European fund to support startups in Uzbekistan
BAKU, Azerbaijan, Sept. 7
By Klavdiya Romakayeva - Trend:
It was proposed to organize the participation of representatives of Uzbekistan in the YoungFounders Fund Program, aimed at supporting promising young entrepreneurs from developing countries in the implementation of their innovative ideas and projects, Trend reports citing UzDaily.uz news agency.
Executive Director of the Westerwelle Foundation Oliver Reisner and representatives of the Uzbek Embassy in Berlin discussed the prospects for cooperation in supporting youth in the implementation of innovation and entrepreneurship.
The Westerwelle Foundation was established in 2013 by the German politician Guido Westerwelle, who served as chairman of the Free Democratic Party of Germany, Vice-Chancellor and Federal Foreign Minister of Germany. The headquarters of the Foundation is located in Berlin.
The mission of the Foundation is to provide support to young entrepreneurs in developing countries to engage in start-up projects. At the same time, key attention is paid to creating opportunities to translate their ideas into real business activities in order to promote the efficient use of human resources and economic development through the creation of new jobs.
The program is held twice a year - in spring and autumn, with a duration of six months. It can accommodate young entrepreneurs aged 20-35 from developing countries who have established their profit-oriented firms over the past five years and are implementing start-up projects.
To do this, the Foundation's commission will study the applications received and an interview (via Skype) will be held with about 70-75 selected candidates, based on the results of which a final decision on 25 participants will be made. International air travel and accommodation expenses for conference participants are covered by the Westerwelle Foundation.
The start of the next program is scheduled for March 2021, but the final decision on its implementation will be made closer to this date based on the epidemiological situation.
In this regard, at present, the Ministry of Innovative Development, the Agency for Youth Affairs and the Youth Union of Uzbekistan have begun joint work on the practical implementation of the agreements reached with the Westerwelle Foundation.
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