Startup business to be developed based on sub-centers

Economy
bbatchimeg28@gmail.com
2020-09-10 14:24:45

Ulaanbaatar /MONTSAME/ A discussion themed “Opportunities, solutions and cooperation in development of start-up ecosystem” was held on September 9 at Bayankhoshuu Business Incubator, Training and Production Center.


The attendees discussed how to manage public-private partnership to increase jobs and promote private sector based on sub-centers. With the aim of encouraging start-up business, it was planned to set up six sub-centers in Ulaanbaatar city. And Bayankhoshuu sub-center has been commissioned for starter, providing services to citizens including incubation room, shared office and library and Capital City Unified Service Center, Civil Information Center, the Asia Foundation-Business Women’s Center are also operating there.


“It will become able to exempt start-ups from tax when they could be registered with special status. And Mongolia needs to establish free economic zone that supports start-up business. Some MPs are working to develop draft bill on it and submit it to the Parliament. The Law on Innovation, which was adopted in 2019, outlined tax support to be rendered to IT companies, state policy support, opening up opportunities to them to trade their shares and getting co-working spaces registered. The role of sub-centers, which are under establishment in the capital city, is highly important for ensuring implementation of the law,” said N.Uchral, Head of the Parliamentary Standing Committee on Innovation and Online Policy.


While, Head of Science, Production and Innovation Authority of Ulaanbaatar City B.Munkh-Orgil pointed out that UB Innovation Hub was founded in 2018 with investment of the capital city in aims of encouraging start-ups, increasing jobs and creating start-up ecosystem. Within the works to develop start-up business, the center has helped 43 start-ups to grow, creating over 100 jobs anew by providing consulting service, internet, laboratories, training halls and meeting rooms. Besides, 17 start-up companies launched their operation with the help of Bayankhoshuu sub-center and they have created some 40 jobs so far. With opening of the Unified Service Center at the sub-center, it brings state services close to the citizens. Now it is available for citizens to receive 365 types of state service at one site. Selbe sub-center will put into operation soon. Citizens, who are running start-up business, have full possibilities to use shared offices at the sub-centers.