Startup Studio in cooperation with 18 municipalities and cities launches a program to support people from the diaspora who want to invest in new or existing business ideas in one of 18 local communities: Bihac, Bosanska Krupa, Cazin, Doboj, Gracanica, Gradacac, Jajce, Kljuc, Lopare, Ljubinje, Modrica, Novi Grad, Ravno, Tesanj, Usora, Velika Kladuša, Zavidovici and Zivinice.
Depending on which community you want to invest in, you can apply for grants in the amount of 20,000 BAM to 60,000 BAM, and the total fund is 1.2 million BAM.
Who is the call intended for?
It is intended for legal or natural persons, who have started or are starting a business in one of the mentioned communities, in whose ownership structure there is also a person from the diaspora.
In this invitation, a person from the diaspora is considered to be a person who has lived in the diaspora for at least two years from the date of publication of this call, and has significant ties with Bosnia and Herzegovina.
A person from the diaspora is also considered to be a person who has returned to Bosnia and Herzegovina and has a permanent residence in Bosnia and Herzegovina no longer than two years before the announcement of the call.
Who can apply for the grant?
1. Registered small and medium-sized enterprises which:
- were established in one of the above municipalities and cities;
- a person from the diaspora is registered as owner or co-owner (at least 25% of the capital), which is proved with a valid founding act and/or an extract from the Register of Company Establishments;
- are established up to 12 months before the date of publication of the call;
- operate as a limited liability company (d.o.o.) or will be soon registered in this form.
2. A person or persons from the diaspora who intend to establish a company in the form of a limited liability company (d.o.o.) with registered ownership or co-ownership (at least 25% of the capital). The company must be established within 90 days from the date of signing the grant agreement.
What are the conditions?
1. Co-financing of an existing company or future business venture in a minimum ratio of 1: 1. Through this call, the applicant is expected to co-finance a business venture in the same amount received from the grant, by:
a) at least 50% of the participation of the requested amount is co-financed in money, the transfer of which will be proven by a financial document and will occur before the transfer of the grant;
b) the remaining 50% can be shown through the value of equipment, standardization, training, certification, etc. If the need arises, the Commission may request confirmation of the non-monetary value through a court or assessment by a certified expert.
For example: If you apply for the amount of 40,000 BAM, the applicant invests the same amount, with at least 20,000 BAM must be in money contribution, and the remaining 20,000 can be in a non-monetary contribution.
2. The company or the applicant (from diaspora) is not financially supported through other programs intended for the development of business ventures of persons from diaspora, i.e., Diaspora Invest (USAID) and Diaspora for Development (D4D – UNDP).
3. It is possible to apply for grants in the amount of 20,000 BAM to 60,000 BAM, depending on the availability of the Fund of the selected local community. The maximum amount of available funds per application will be displayed at the local community showroom on the eXpo lonac platform.
4. This call is open to applications for business ventures from all industries. In case the number of applications exceeds the amount of funds available in local funds, priority will be given to proposals for business investments in sectors such as agriculture, energy, tourism, metal processing sector, wood processing sector and other production and processing sectors, as well as information and communication technologies (ICT).
5. It is not possible to claim funds for unethical industries and activities such as weapons production, gambling, adult industry, etc.
Steps in the application process?
- The first step is to visit the lonac eXpo.
- In the large hall, select the Expo Hall “Invest in BiH”, view the virtual stands of 18 municipalities and cities with available funds for grants.
In addition to information on available funds, you will be able to contact the local diaspora coordinator from the selected municipality or city and find out about other resources.
- If you already know for sure which local fund you want to apply for, fill out the application form “Application form for expression of interest” at the selected virtual stand of the municipality or city in the section “Current offer”.
- It takes 10 minutes to fill out the Form. We will contact you in 10 days with further instructions.
Note: Please submit the application and documentation in electronic form via the Form.
The Diaspora Investment Support Fund is funded by the Government of Switzerland and 18 municipalities and cities.
