February 2 this year, was the deadline for submission of the business idea applications within the third grant competition. A total of over three hundred applications were received for starting new businesses or expanding existing ones. It is worth noting that there was significant participation from women and young people under the age of 35.
In the agricultural production field, the majority of applications were related to greenhouse production, beekeeping, dairy farming, and berry production. In the non-agricultural sector, the largest number of applications were for services like land cultivation (agri-services), establishment and expansion of mills, auto repair shops, bakeries, and similar enterprises.
All applications went through a comprehensive review and evaluation process conducted by the selection committee, which consisted of the project team and an invited business development expert. The review process considered various criteria, such as expected sales, income and expenses, sustainability, growth potential, innovativeness, and perceived risks.
As a result, 203 contestants have advanced to the next stage of the selection process, which involves training on how to write a business plan. They will undergo intensive two-day trainings that will help them analyse in detail their product, target market and customers, production and financial plan, risks, etc. We wish them good luck and hope that the training will help them develop clear and realistic business plans.