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Over 500 young entrepreneurs to benefit from the Rinker Youth Challenge partnership program between BCause Foundation and Citi Foundation

The participants will acquire knowledge, build their business network and compete for four grants of 20 000 BGN each

The Citi Foundation and the BCause Foundation are happy to announce the launch of a new partnership program – the Rinker Youth Challenge, an entrepreneurship program for young people in Bulgaria. The program’s objective is to support the development of entrepreneurial thinking and leadership skills in young people, help them prepare for a successful start of their own business and support them through the most difficult first steps of their real business venture. The four best business projects will receive grants of 20 000 BGN each.

The Citi Foundation is funding the program under the global Pathways to Progress initiative, which aims to help youth develop entrepreneurial mindsets and leadership skills needed to compete in the 21st century job market. The program pays particular focus to social enterprise projects.

Stanislava Taneva, Citi Country Officer for Bulgaria said, “We are proud to partner with the BCause Foundation in a program that is fully aligned with the Citi Foundation’s Pathways to Progress objectives of empowering young people by giving them the skills, knowledge and confidence to make those first steps as entrepreneurs and professionals and contribute to the economic growth of the community.”

The Rinker Youth Challenge will reach over 500 Bulgarian youths. Participants are invited to enroll in “Accept the Challenge” workshops organized in 5-6 urban centres in the country. These regional forums will provide participants with knowledge, business modeling and soft-skill training. Selected participants will then go through intensive training at the Mixer and Accelerator stages, concept proofing and fine-tuning their business projects. The best four start-up business ideas will receive financial support for a year and mentorship support for 6 months. 

“Thanks to the support by the Citi Foundation, we can continue to discover and bring to life sound entrepreneurial ideas that have a social impact. The program allows young people to proactively develop qualities and skills, which they can apply in their professional and personal development and real life situations”, Elitsa Barakova, Executive Director of BCause Foundation added.

 

About Citi Foundation

The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. We invest in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant cities. The Citi Foundation’s “More than Philanthropy” approach leverages the enormous expertise of Citi and its people to fulfill our mission and drive thought leadership and innovation. For more information, visit www.citifoundation.com.

 

About Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

 

About Rinker Center, BCause Foundation

Rinker Center for Entrepreneurship and Training was founded as a program of BCause Foundation in 2014 г. with funding by CAF America. Our mission is to foster and develop the spirit of entrepreneurship in Bulgaria. We support motivated and capable individuals to change the lives of people and communities through sustainable enterprises with impact on important social fields such as social inclusion, environmental protection and waste reduction, healthy living and sustainable educational services. www.rinkercenter.org