Radām Novadam business project contest has commenced. As part of this contest, teams of youngsters will compete in different regions in Latvia by realizing business ideas to provide the biggest possible economic benefit to those regions, as reported by Radām Novadam organizers.
As part of the contest, organizer will perform a study of youth entrepreneurship in regions in cooperation with partners in Lithuania and Inovaciju Biuras association.
The main objectives of this study will be determining the main reasons that motivate youngsters to realize business projects in regions, where traditionally the business potential is the lower than it is in cities.
State and municipal institutions will be presented with results of the study so that they are able to improve their programmes and support measures to assist youngsters with starting a business in regions and help them achieve positive results.
«There are many opinions about the conditions youngsters have to meet in order to realize business projects in regions. It should be said that the first contest, which had concluded last year, showed that not all opinions about this topic are true. With this study we hope to research the factors that assist youngsters to realize business projects in regions,» explains Radām Novadam representative Andris Ceksters.
Ceksters says: «Using quantitative and qualitative research methods, we will be watching youngsters commence their business activity and how their attitude and approach change when they face challenges and problems and how they overcome them.»
The project was launched on 6 February 2017. The study will be performed in two countries. Inovaciju Biuras representative Rasa Zilione says: «The business environment and economic development potential are equal in Latvian regions and Lithuanian regions. With that, there is an opportunity to compare results in Latvia and Lithuania. Because contests like Radām Novadam are not performed in Lithuania, a comparison of youngsters from the two countries will help determine if participation in the contest can increased youngsters’ ability to successfully realize their business projects. Depending on study results, we will look for options to organize similar contests in Lithuania in 2019,» Zilione says.
The Radām Novadam contest will be taking place from February 2017 until November 2018. Youngsters are encouraged to form teams and apply for participation before 31 March. Any youngsters with experience in active entrepreneurship are welcome to apply. Teams need to have at least three members. If a team consists of 75% of youngsters from the same university, that team can represent their university.
The contest is organized by Radām Novadam in cooperation with DELFI.