October 8, 2021
Press releases
The Business Competition among the social entrepreneurs, youth CSOs and young people took place under the “All for YOUth, YOUth for all” project. The project is co-funded by the European Union and Transition Promotion Programme of the Ministry of Foreign Affairs of the Czech Republic. The main objective of the competition is to boost youth employment and to create job opportunities for rural young people while promoting social entrepreneurship at the local level.
Within the first phase of the competition, the project team has received 51 business proposals from young people and social entrepreneurs in Bayankhongor, Dornogovi, Khentii, Selenge provinces as well as Ulaanbaatar. Furthermore, the project proposals were evaluated by the Evaluation Committee team, including external expert. As a result, 10 applications were shortlisted.
“The European Union is a strong supporter of youth.. Especially, during this unprecedented time, it is of utmost importance to support small businesses, start-ups and youth initiatives that create job opportunities. It is encouraging to see many creative and innovative young people being active to bring change into their own local communities. We are glad that through this business competition we can support youth to kick-start and test their ideas and business models on the ground” said the European Union Ambassador to Mongolia, H.E. Axelle Nicaise.
On 8 October, the shortlisted 10 applicants pitched their business ideas and plans for the business awards. Finally, 3 business project proposals have been selected by the Evaluation Committee, which consisted of the representatives from the European Union Delegation in Mongolia, Embassy of the Czech Republic in Mongolia, Khan Bank, Development Solutions NGO and Caritas Czech Republic in Mongolia.
The business grant winners are as follows:
- “Lost treasure” project from Ulaanbaatar city with the award of 16,500,000MNT
- “Composting” project from Dornogovi province with the award of 14,850,000MNT
- “Khur Shim” project from Ulaanbaatar city with the award of 13,200,000MNT
They were selected based on several criteria, namely the viability of their proposals, sustainability and the number of jobs created for young people in the target provinces and Ulaanbaatar. The winning teams will implement their project with the awarded grants until the end of 2021. The project will be monitored by the project team.
