First rural “Start-Up” Center opens in DornodEconomy
Dornod /MONTSAME/ The first rural “Start-up Center” was opened in Dornod aimag with investment of MNT 120 million from the Local Development Fund.
Within the framework of “Youth Employment Promotion Program” running by the Ministry of Labor and Social Protection, works to support start-up businesses of young people have been continuing successfully in Dornod aimag.
Head of the Labor and Social Protection Department of the aimag N.Munkhgerel said that financing of a total of MNT 230 million has been granted to 23 types of youth-run businesses. In detail, each of MNT 10 million was given to one start-up in 2017, to 4 start-ups in 2018 and to 18 start-ups in 2019 and the start-ups are running their operation successfully today.
Further, the center aims to nurture and grow start-up businesses with local features and build their capacity by providing them with necessary information and training such as how to make effective research and attract investment. The center plans to select 11 projects this year same as previous years and give financial support of MNT 10 million to each of them.