Business Plan Competition Empowers Entrepreneurs in Ethiopia’s Somali Region

Launched in June 2023, the BPC generated significant interest, receiving 1,931 proposals from young entrepreneurs across diverse sectors.

A groundbreaking Business Plan Competition (BPC) has concluded with the selection and awarding of the top 50 business ideas, empowering aspiring entrepreneurs from both refugee and host communities in Ethiopia's Somali region. The initiative, led by the International Labour Organization (ILO) through the PROSPECTS Programme in partnership with HASI Consulting, aims to foster entrepreneurship, drive economic growth, and create sustainable livelihoods in the region.

Launched in June 2023, the BPC generated significant interest, receiving 1,931 proposals from young entrepreneurs across diverse sectors. A rigorous evaluation process selected 100 of the most promising business plans as the first-round winners, who then received intensive training and mentorship from the Business Development Services Providers Association of Ethiopia (BDSPA). This step equipped the entrants with the skills to refine their business ideas, develop comprehensive business plans, and enhance their entrepreneurial capabilities.

The competition culminated in a high-stakes pitching event where the first-round winners presented their refined business plans to a panel of judges and industry experts. Fifty outstanding businesses were selected to receive grant funding to start or expand their ventures, along with ongoing business coaching and mentorship to ensure long-term sustainability.

Quotes:

“The BPC has played a pivotal role in nurturing entrepreneurship, fostering innovation, and driving economic growth," stated Stephen OPIO, Chief Technical Advisor, International Labour Organization, PROSPECTS Programme, Ethiopia. "By empowering individuals to turn their ideas into successful and sustainable businesses, this initiative has the power to spread the spirit of entrepreneurship among their communities."

“This initiative has been instrumental in fostering a thriving entrepreneurial ecosystem in the Fafan Zone of the Somali region," said Tiest Sondaal, Deputy Head of Cooperation and Regional Refugee and Migration Coordinator for the Embassy of the Netherlands. “This approach is not just about building businesses; it's about empowering forcibly displaced persons and their hosts to become self-reliant contributors to their communities. By equipping them with the skills and resources they need, we are empowering them to build a brighter future."

"The success of the Business Plan Competition is a testament to the power of collaboration. By working together with the ILO PROSPECTS program, HASI Consulting, regional bureaus, and local communities in the Fafan zone, we've fostered an environment where innovative ideas can flourish,” said Abdirahman Ali Hirsi, CEO of HASI Consulting. “This public-private partnership empowers aspiring entrepreneurs and strengthens the local economy, creating a lasting impact for both refugees and host communities."

Collaborative Effort

The BPC has been implemented in close collaboration with the National Business Development Service Providers Association, Ethiopia’s Refugees & Returnees Service (RRS), the Somali Region’s Skills and Job Creation Bureau, and financial service providers.

The 50 winning business ideas will receive follow-up technical support, business coaching, and mentorship in establishing and strengthening their businesses. Work permits and business licenses will be facilitated by the RRS and the Somali Region’s Skills and Job Creation Bureau.