The project consists two components: 1) a diagnostic of ICK’s capacities to successfully achieve the project goals in the Kosovar and international context and 2) tailor made consulting services for selected startups and support the implementation of accelerator program. This component will also provide support to startups in building relationships with potential investors and business partners.
Unemployment among the youth in Kosovo is one of the most pressing problems in the country. While being a country of one of the youngest populations in Europe, youth unemployment rates are assessed at over 60%. Enabling entrepreneurship therefore offers a solution ti several development hurdles in this context. However, startups and MSME businesses in Kosovo face considerable challenges in achieving sustained commercial success and in reaching a level of maturity where they are eligible for responsible debt financing.
The European Fund for Southeast Europe (EFSE) Development Facility, through “Enhancing the Entrepreneurial Ecosystem” project and the expertise of Recura Financials, will first assess ICK’s capacity and capabilities based on international best practices regards to organizational operations and its services regarding incubation, acceleration and involvement of local and international investors and partners for the participating services.
Capacity building for ICK and startups
During the second phase of the project, the professional consultants of Recura Financials, will implement the capacity development plan and will organize the run of the accelerator as well as identify source consultants, partners and potential investors (both local and international). As a focus of this component, ICK will identify consulting needs for the selected startups and will facilitate tailore made one-on-one consulting services for each startup.
Activities of the consultancy and mentoring for both components will last 12 months, as per July 2017.