EFSE Entrepreneurship Tournament in Sarajevo to promote emerging businesses
On November 20, 2018 the EFSE Entrepreneurship Academy hosted EFSE Entrepreneurship Tournament in Sarajevo, in cooperation with its partners the Mozaik Foundation and Sarajevo Regional Development Agency SERDA. The aim of the Tournament was to address common hurdles for the businesses in the region: access to finance and business know-how. The tournament drew 22 entrepreneurs and 220 attendees, investors, international financial institutions, and other industry players to Sarajevo City Hall to support entrepreneurship in Bosnia and Herzegovina.
Over the three months leading up to the competition, the organizers helped 22 contestants to rigorously prepare to pitch their business models to a jury of experts. These businesses had already graduated from prior acceleration programs and were ready to convince a panel of corporate and financial sector representatives of the value of an investment in their businesses. During the pitching round, the candidates were analysed by the panel of judges based on the potential of a financial award to increase production, income, number of employees, or geographic outreach of the business.
The resulting 9 winners of the tournament received business acceleration awards in amounts of EUR 6,000 and EUR 10,000. An additional 5 businesses were awarded in special categories of innovation, social impact and woman entrepreneur and 12 businesses won 500 hours of mentorship to accelerate their developing businesses.
Please find our press release on the EFSE Entreprneurship Tournament here.
The EFSE Entrepreneurship Academy is an initiative of the Development Facility of the EFSE. Read more about the EFSE Development Facility here.