Digital solutions supporting women enterprise to be funded
On the initiative of Minister of Foreign Affairs B.Battsetseg, with the support of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and the Women Enterprise Recovery Fund, the ‘Program for digital solutions to rebuild, expand and support the growth of women’s businesses’ will be implemented in Mongolia for the first time.
In connection with the implementation of the program, a press conference was held last Friday by the Mongolian branch of the International Women’s Federation of Commerce and Industry (IWFCI). Within the framework of the program, a total of 200 million MNT will be awarded and currently it is planned to award scholarships to three to four teams. In other words, the best projects of companies with innovative digital solutions will be selected and a scholarship of up to 10,000 USD will be awarded to one team. Depending on the solution and scale of the selected project and the amount of investment required, the amount of the grant will be different for each project.
President of the Mongolian branch of the IWFCI, O.Baigal said that the enterprises submitting their proposals to this program do not necessarily need to have female management or female employees. The most important thing is to offer a digital solution aimed to restore, expand, and support the growth of women’s businesses affected by the economic crisis after the pandemic, she said. Application forms for the program will be accepted from February 6. In this regard, a program presentation event will be held at the Ministry of Foreign Affairs today from 12:00 p.m. to 2:00 p.m.
The International Women’s Federation of Commerce and Industry was selected as the implementing organization of this program. The Federation is a non-profit NGO established in 1992 in Melbourne, Australia, to increase women’s participation in economic, social and decision-making levels, and to support entrepreneurship. The IWFCI Mongolia branch was approved in 2016 and has been operating in Mongolia since 2017.