The International University of Sarajevo (IUS) hosted a visit from Mr. Zlatko Mijatović, Minister of Economy of Sarajevo Canton, and Prof. Dr. Adna Mesihović, Minister of Science, Higher Education, and Youth of Sarajevo Canton. The guests were welcomed by IUS Rector Prof. Dr. Ahmet Yıldırım.
The primary focus of the meeting was two major flagship projects spearheaded by the Ministry of Economy. These initiatives are designed to enhance the entrepreneurial ecosystem, support the students and youth and attract foreign investment to the region.
A cornerstone of the Ministry's strategy is the new program titled "Financial Incentives with Incubation for Newly Established Business Entities." This program aims to support emerging businesses by providing financial aid and incubation services. The initiative is part of a broader effort to adapt the space at the University of Sarajevo Faculty of Mechanical Engineering, where the Center for Entrepreneurship Development of the Center for Advanced Technologies Sarajevo will be situated.
With a total financial allocation of 750,000 KM, this program is set to offer individual financial support of up to 30,000 KM to approximately 25 newly established small enterprises. These businesses, founded by innovative young entrepreneurs in 2024, will also receive one year of incubation support. The program is tailored to support activities in various sectors, including Information and Communication Technology (ICT), professional, scientific, and technical activities, as well as administrative and support services.
Minister Mijatović underscored the significance of this initiative, stating, "The Financial Incentives with Incubation program is designed to provide young entrepreneurs with the resources they need to turn their innovative ideas into successful businesses. By offering both financial support and incubation, we aim to nurture the growth of small enterprises and stimulate economic development."
In recognition of the need to attract foreign investment, the Ministry has also introduced the "Incentives for Direct Foreign Investments – Support for the Establishment of a Legal Entity by a Foreign Investor" program. This initiative is geared towards making Sarajevo Canton a more appealing destination for international investors.
The program has allocated a total of 350,000 KM to support foreign investments in micro, small, and medium enterprises. It offers financial grants of up to 70,000 KM to foreign investors establishing legal entities in Sarajevo Canton with majority foreign ownership. The grant support is contingent upon the evaluation of the approved business plans submitted by the investors.
Rector Prof. Dr. Ahmet Yıldırım expressed his appreciation for the support from the cantonal government, emphasizing the positive impact these initiatives will have on both students and the broader community. "We are excited about the opportunities these programs will create for our students and young entrepreneurs.”
