Deadline: 1 April 2019
This Request for Applications (RFA) is seeking small grant applications in support of the Bosnian Diaspora Marketplace’s objectives.
The objective of the “Diaspora Invest Activity,” further on referred to as Diaspora Invest, is to catalyze the economic contributions of BiH Diaspora to BiH’s socio-economic development. Bosnia Diaspora Marketplace (hereinafter: “BDM”) is a Business Plan Competition utilizing the Small Grant Fund that is intended to create new job opportunities for the citizens of BiH through increased diaspora investment. The overall goal of the BDM is to support at least 70 diaspora-eligible, early stage SMEs and start-ups and create 250 new jobs at assisted enterprises. In addition, small grants are expected to contribute to an increase of diaspora direct investment by at least US$7 million as evidenced by metrics established to capture qualitative impacts such as the amount of equity/debt financing contributed towards investment in fixed assets, diaspora knowledge transfer, introduction of new technologies, etc., and facilitate redirection of a portion of remittances transfers towards enterprise investment and development.
Focus Areas for Consideration
- Small grants will be awarded for activities that have the largest potential to achieve overall impact on: creating new jobs, increasing direct diaspora investment, establishing and/or strengthening partnerships of BiH SMEs with diaspora, transferring of diaspora’s know-how, market outreach, mentoring, business networking, and strengthening the links between science, technology and business as well as to utilize other financial and nonfinancial contributions to BiH economic growth.
- Participation of women diaspora investors and/or women entrepreneurs is encouraged.
Funding Information
Total value of the SGF is US$ 1,824,946.50. Small grant awards will typically range from KM 15,000 to 50,000. Maximum small grant application cannot exceed KM 50,000.
Duration of Grant Implementation
Business proposals can have a maximum 12-month (one year) implementation period, or shorter, reflected through the presented activities and outputs in the grant application.
Eligibility Criteria
The Bosnia Diaspora Marketplace/Small Grant Fund (BDM/SGF) is geared towards supporting new diaspora business ventures in Bosnia and Herzegovina or helping expand operations of existing diaspora-linked businesses incorporated within the last three years preceding the publishing date of the Request for Applications.
There are several criteria that the Bosnian Diaspora Marketplace Fund applicant must ensure to be eligible for funding. These pertain to:
- Legal incorporation – The Small Grant fund is open to small and medium-sized companies (SMEs)† registered in Bosnia and Herzegovina. Businesses that are not yet legally registered may also participate in the competition represented by their founder(s), provided they become legally incorporated before advancing to the final round of the competition.
- Company age: The SME applying may be a startup or an established business operating for a maximum of three years (0-3 years) at the time of the RFA launch. Companies registered prior to February 26, 2016 shall not be eligible for grant awards.
- Diaspora link: SMEs applying must have a demonstrable relationship with a diaspora member.
How to Apply
Applications must be submitted at the address given on the website.
For more information, please visit http://diasporainvest.ba/blog-content/147/4poziv