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The European Union (EU) and UNDP started the incubation stage for the social entrepreneurs that were selected following the Ideation Bootcamp organised in April.
The incubation programme is realised within the EU-funded project supporting civil society organisations. The incubation programme hosts 41 participants from Aghdam, Baku, Bilasuvar, Ganja, Mingachevir, Neftchala, Shamkir, Sheki, Sumgait and Zagatala that came up with the best social business ideas out of the Bootcamp. The first 3-day training of the incubation process introduced the method called the ‘Social Return on Investment’ aiming to assess social impact of businesses and discussed data visualization and communication for social reporting. The workshops are led by ARCO (Action Research for CO-development) Research Centre (Italy) specialized in social economy, and local and inclusive development.
The Incubation Programme aims to support the social entrepreneurs to further cook their business ideas and strengthen its commercial aspect while staying focused on social benefits.
At the end of the two-month incubation, the entrepreneurs will finalise their business plans and up to 30 best plans will receive financial support to begin realization of their socially oriented businesses. These social businesses will contribute to achieving Sustainable Development Goals by offering employment, inclusive and affordable services, also new education opportunities, ‘green’ solutions and innovative partnerships.
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The incubation process is organised by the ‘Developing innovation-driven and sustainable civil society in Azerbaijan’ project, funded by the EU and implemented by UNDP. The project aims to increase civil society organisations’ capacities to engage in policy-making processes, help local development, and promote social entrepreneurship in the country.
