As a micro-finance organization, MINA aims to reduce poverty in Mongolia. As an important part of this, they want to better equip entrepreneurs in order to bring about economic developments in the country. But also to give people in need new hope and a vision for the future. MINA’s long-term goal is to formally establish a business incubator as part of their work, by adopting the MBC program and benefiting from MBC’s experience and proven programs.
The Project
The total implementation of this partnership will take place in three phases:
- Phase 1: Insight into the MBC method and materials through participation in the Generate Your Business Idea (GYB) and the Start Your Business training (SYB) for potential trainers, coaches for MINA staff, together with a group of potential entrepreneurs . The result is a set of 5 concept business plans, evaluated by MBC. The training is applied in the field where MINA is already active.
- Phase 2: a Training of Trainers in combination with starting companies. This training is a combination of theoretical training, together with practical exercises in the field. MBC will also train the Coaches for the new start-ups.
- Phase 3: Setting up the Business Training Center in Mongolia. This is combined with a training of Consultants in order to be able to evaluate the new business plans themselves.
Phase 1 – the GYB and SYB training – is given to a group of trainers and coaches, combined with a number of potential entrepreneurs. In addition to training trainers, coaches and consultants, each phase ends with a number of business plans, evaluated by MBC, after which the companies can start. The coaches will contribute to the realization of the evaluated business plans. MBC will also play a role in guiding the trainers, the coaches and in the evaluation of the business plans.
Project costs
The project will be financed in part by MINA, by the MBC Foundation, together with a donation from the software agency Flexhub and a few other donors. Part of the training is given by volunteers. MINA is still looking for available capital for lending start-up capital to the entrepreneurs. For more: see financial support.
