Press releases

НЯ ‘О тО кО’, SRL ‘Davitex Neo’ and AO ‘Eco Răzeni’ are the three Moldovan companies selected to participate in the international competition for the best business idea with social impact. The competition, organised as part of the European Finance4SocialChange project, will take place in March 2021 in Budapest, Hungary.

Local businesses will compete with 27 other social enterprises in the Danube region in semi-finals in November 2020. As a result, only four investment projects will have the chance to reach the big end and win the prizes offered by UniCredit for the development of social affairs. UniCredit is the lead partner of the project and supports the social entrepreneurship competition with a budget of EUR 30.000. UniCredit Bank is among the pioneers of social impact banking services, with a strong commitment to building a fairer and more inclusive society by promoting initiatives with positive social outcomes. In addition to the cash prize, social enterprises have both the chance to connect with investors, UniCredit Social Impact Banking experts and relevant business partners across the region and to be guided by local experts from the competition partners.

The companies participating in the competition were selected according to strict criteria defined by the German Agency for the Financing of Social Enterprises (FASE), where the social and environmental aspects of the business ideas were assessed, as well as the efficiency of the business solutions, the impact of the results achieved and the sustainability of the businesses on the market.

Previously, social companies participated in entrepreneurial training courses through the Social Impact Investment Design Academy. They also benefited from mentoring sessions and workshops dedicated to the development of business plans.

Finance4SocialChange is co-financed by European Union funds (ERDF, IPA, ENI) and aims at boosting access to innovative financing instruments, creating a business environment that supports social entrepreneurs to develop more viable and stronger companies in the Danube region. The Finance4SocialChange project is implemented in the Republic of Moldova, through ODIMM, in consortium with 14 other countries in the Danube Basin.