LID project: Selected teams for participation in the first "Global Crowdfunding Academy" in BiH

Nov 28, 2017

There are 11 teams selected for participation in this year ''Global Crowdfunding Academy'', which will be organized for the first time in Bosnia and Herzegovina (BIH). There were total of 44 project proposals submitted to public call, and the selected teams proposed the best ideas and projects for participating in this educational program. The Crowdfunding Academy is being organized within the scope of ''Local Integrated Development'' (LID) project, which is primarily funded by the European Union and implemented by United Nations Development Programme (UNDP) in BiH. The main goals of the Academy are to provide an opportunity for alternative financing of innovative projects and initiatives from BIH via group funding.  Additionally, participants will have the opportunity to create business network and share experiences. The training costs will be covered by LID project.

The selected projects for support within ''Global Crowdfunding Academy'' in BiH, represents different initiatives, starting from promotion of Bosnian tradition (e.g. old Bosnian dishes and handicraft), through the promotion of organic and ecological producers, to establishing social enterprises, as well as game-makers for children. Selected teams for participation in educational program submitted the following projects:

  • Production of winter store and gluten-free pumpkin flour
  • Promotion of organic and ecological producers from BIH through web platform and smart shelves
  • Play Learn Grow – The Bosnian Kingdom
  • Promotion for old Bosnian dishes by printing ‘’Bosnian cook” book by Mirsada Havel
  • Handicrafts for economic inclusion of young people through protection of cultural-historical heritage in the Balkans
  • Artek – mini computer case
  • Craft beer – from hobby to finished product
  • Multifunctional youth training house ‘’Labyrinth’’
  • Album
  • OVA Handmade production
  • “Talas” Journal

Educational program “Global Crowdfunding Academy" in BiH will be held on December 2 and 3, 2017 in Banja Luka and  December 16 and 17, 2017 in Tuzla.

''One of the main challenges entrepreneurs are facing is access to capital for start-ups in business, especially in case of young people who don't have experience. That is the reason why the European Union and UNDP have decided to popularize crowdfunding and to train future entrepreneurs to fund their business ideas through crowdfunding. Our goal is to provide initial capital for realization these 11 business ideas through crowdfunding campaigns next years, which will encourage other future entrepreneurs to use crowdfunding as a finance and capital source,'' said Ismar Ćeremida, LID project Economic Development Coordinator.

Through the program, selected teams will receive free mentorship and support from crowdfunding experts and mentors from TerraHub and UNDP AltFinLab, who have worked and participated in some of the most successful crowdfunding campaigns in region, in order to develop their projects and prepare for lunching their own crowdfunding campaigns. After the completion of the educational modules, teams will have mentorship help to successfully prepare campaign for implementation and support during the implementation.

Crowdfunding or group funding is becoming an increasingly important way for financing innovative ideas and projects in the world. Crowdfunding or group funding is a form of alternative financing that appeared few years ago and today is considered to be one of the most powerful funding tool and projects through web platform.

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