Yesterday, the Government of the United States of America (USA) announced the launch of a new Grant Fund at the Business Angels Summit in Sarajevo.
Yesterday, at the Summit of Business Angels in Sarajevo, the Government of the United States of America (USA) announced the launch of a new Grant Fund worth $300,000 to encourage investments by business angels from the Bosnian diaspora. This US Agency for International Development (USAID) Fund offers startups in Bosnia and Herzegovina (BiH) crucial initial capital, connecting them with investors from the diaspora and through co-financing in the same amount.
“Startups in Bosnia and Herzegovina face numerous obstacles in accessing finance necessary for business growth and maintenance – including an insufficient number of official institutions that provide financing with equity or venture capital, restrictions on the minimum age of startups, and the almost non-existent venture capital or some other innovative financing instruments,” he said . is Daniel Koski, Deputy Chief of Mission of the US Embassy in the Summit.
“I invite all of you to take advantage of this new opportunity as a potential step forward on your path to growth and sustainability .”
The new Grant Fund is part of a partnership between USAID’s Diaspora Invest project and the 787 Foundation – a non-governmental organization that supports women and young people from Bosnia and Herzegovina in starting and developing their businesses, in order to encourage entrepreneurship and economic growth in BiH. USAID and the 787 Foundation have prepared a “Roadmap for Business Angels” that describes the steps and reforms needed to stimulate business angel investment. “Guidelines for the investment of business angels” were also written to help investors navigate the institutional and legislative environment of BiH, and they continue to organize meetings and events of investors to support and expand the Network of Business Angels of BiH.
Over the past 25 years, the US government has supported the development of a modern and resilient financial and private sector in BiH. USAID’s Diaspora Invest project, a five-year initiative worth $15.7 million aimed at diaspora engagement, investment and knowledge transfer to strengthen local economies in BiH, is one of those activities.
Since 2017, USAID has mobilized more than $82 million in investments in companies run by BiH. diaspora, emphasizing the important role they can play in promoting innovation, entrepreneurship and sustainable economic development. The US government remains committed to encouraging sustainable economic growth and financial inclusion in BiH.
Source: akta.ba
