Russia's 'My Good Business' Competition Launches With Grants for Social Entrepreneurs
Russia's Ministry of Economic Development has launched the 'My Good Business' competition, aiming to foster social entrepreneurship and nonprofit activities. This year, the contest introduces grants for winners and expands its reach with regional partners.
The competition, now in its 11th edition, focuses on projects that create measurable social impact and align with national development goals. It is organized remotely, with experts evaluating projects' economic potential, social impact, transparency, and coherence.
Over 10,000 social enterprises in Russia already contribute significantly to addressing social challenges. The competition accepts applications in two categories: 'Help with Purpose' for small and medium-sized businesses and nonprofits, and 'Social Collaboration' for large businesses implementing social projects.
The regional stage of the competition in Nizhny Novgorod is supported by local partners such as Sberbank, Rostelecom, Lukoil, and Most Advertising Agency. Winners at the regional level will receive grants of up to 500,000 rubles and additional vouchers for marketing and PR services. The top three projects will represent the region at the national level.
The 'My Good Business' competition, held in two stages - regional and federal - is a significant opportunity for social initiatives in Russia. With the introduction of grants and regional support, it aims to advance social entrepreneurship and nonprofit activities nationwide. The Nizhny Novgorod region has begun accepting applications for the regional stage, with the ceremonial awards event scheduled for December 12.
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