Call for applications – Challenge Fund grants

Business entities from Bosnia and Herzegovina and Sweden can apply for grants from the Challenge Fund for the sixth time. The public call is open until February 12, 2021 until 4 PM.

The available funds for this call are around 420,000.00 EUR. The funds are intended for business entities with innovative ideas, products or services that can lead to a reduction in unemployment, increase competitiveness and sustainable socio-economic development in Bosnia and Herzegovina.

For potential beneficiaries from the category of startups, who have been registered for at least six months, the maximum grant amount is up to 10,000.00 EUR. Beneficiaries from the category of micro, small and medium-sized enterprises that have up to 250 employees, who have been operating for more than two years, can apply for up to 30,000.00 EUR. Applicants must also provide a minimum participation of 50% of the total value of the proposed project. The implementation must be at least 3 months, but not longer than 6 months.

All applications received will be evaluated in accordance with three basic criteria – innovation, feasibility and sustainability of the business idea and social benefit. During the evaluation, the priority will be given to the business entities’ innovations in relation to the procurement of a ready-made innovative solution of a product or purchased technology. Additionally, it has to contribute to the development of a new product, service or process on the market and have wider social benefits.

Applications for this call must be submitted exclusively in electronic form on the website in accordance with the instructions contained in the document Guide/Guidelines for Applicants. This document is an integral part of the Application Package which you can download at the following link.

2574 applications were registered for the award of grants from the Challenge Fund in the previous 5 calls. Until today, 89 projects have been implemented, supported by about 1,816,000 EUR, while 70 projects are being implemented.

Total available amount of the Challenge Fund is about 3.9 million EUR.

The Challenge Fund was established within the Challenge to Change project, which is financially supported by the Swedish Agency for International Development and Cooperation /Sida/, and is implemented by the Sarajevo Economic Region Development Agency SERDA and the Development Agency of the Republika Srpska. The project partner is the Ostergotland region, Eastern Sweden.