From 13 September to 21 October 2024, the Ministry of Welfare invites beginners in social entrepreneurship to submit applications for a business idea competition.
The aim of the competition is to encourage people without prior experience in social entrepreneurship to get involved in the sector and to select 20 of the best beginners, who will be given the opportunity to apply for financial support from ALTUM to implement their business ideas.
The competition welcomes business ideas that address various social challenges, such as:
employment opportunities for groups at risk of social exclusion,
provision of social services,
building an inclusive civil society,
promoting education and science,
environmental protection and sustainability,
animal welfare,
preservation of cultural diversity.
Each applicant may submit one business idea, which may include financial support (grant) from the Development Finance Institution ALTUM in the amount of EUR 10,000 to EUR 40,000.
Applicants must provide 10% co-financing from their own resources.
In case of receiving support, the applicant will be required to obtain Social Enterprise status, which is granted by the Ministry of Welfare to a limited liability company (SIA) that meets the requirements of the Social Enterprise Law and implements the approved business plan.
The expected implementation period for the business plan and achievement of results is up to two years.
More information on the preparation and submission of applications, including the competition regulations, application form, evaluation criteria, and legislation on social entrepreneurship, is available on the Ministry of Welfare’s website:
🔗 www.lm.gov.lv/lv/socialas-uznemejdarbibas-uzsaceju-biznesa-ideju-konkurss-2024
Applications, signed with a secure electronic signature, must be submitted by 21 October 2024, 23:59:
📧 by email: registracija.su@lm.gov.lv
or
💻 via the portal: www.latvija.lv
For questions about the application process, please contact:
📞 +371 20683997
📧 registracija.su@lm.gov.lv
The competition is financed under the ESF+ project “Support for Social Entrepreneurship” (No. 4.3.3.3/1/24/I/001).
