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EU offers support to Albanian young entrepreneurs

Xinhua, May 9, 2017 Adjust font size:

The European Union (EU) delegation in Albania announced Tuesday the five winners for start-up and young entrepreneurs of the national contest Start Up Albania 2017, the EU office here said in a press statement.

The project was realized through the EU information network, in cooperation with the Albanian Ministry of Innovation and Public Administration as well as Albanian Investments Agency.

While awarding the prizes, the head of EU delegation to Albania Romana Vlahutin highlighted that such initiatives encouraged young entrepreneurs and offered them opportunities to compete on the European markets.

Start-Up Albania 2017 aims to strengthen the climate of business embracing innovation and technology as key elements for business development with special focus on youth, she told at a conference.

According to Vlahutin, startups still find it difficult to find favorable environment in Albania, so EU will provide support to an innovative eco-system by establishing an incubator, improving access to finance and acceleration support to innovative start-ups.

"EU support for Competitiveness and Innovation sector includes an allocation of almost 50 million euros (2014-2020), of which we have targeted 6.6 million euros for innovation," Vlahutin noted.

The Start Up Albania 2017 was launched on March 1, 2017, with the participation of 77 applicants. The applications cover areas like information technology, social business, and agriculture. Endit