UNIDO and ENI support sustainable entrepreneurship in Iraq
July 29, 2022
UNIDO has successfully completed at the beginning of July 2022 the first phase of a flagship initiative “Sustainable Agro-Energy in Iraq – #IPI Call for innovative entrepreneurship” organized in collaboration with ENI Iraq B.V. and ENI Joule with the support of LVenture Group within the framework of the project “Investment Promotion for Iraq — Phase II”, funded by the Italian Agency for Development Cooperation.
The initiative aims to identify, support and promote innovation in the water, energy and agriculture sectors for local and inclusive sustainable development and create a virtuous circle of connections among the private, academic, financial, and institutional ecosystems of Italy and Iraq.
UNIDO has selected 30 candidates, mostly young entrepreneurs, including 7 women, out of more than 60 individual applications received from SMEs, startups, university spin-offs, research centres and students in Basra Governorate, Iraq. Successful candidates joined a 3-week training program to learn new entrepreneurial skills, improve their business models and increase investment readiness by developing innovative ideas and working on ad-hoc projects under the mentorship of leading experts.
After the careful selection process, involving presentations during the pitch day, an exam and an evaluation of the project and business proposals, 15 participants were selected for the second phase of the initiative. These successful participants will go on an innovation trip to Italy in autumn 2022 and will benefit from the dedicated honest brokering, mentoring and advisory services.
This flagship initiative with ENI testifies to the fundamental role of UNIDO in leveraging and involving the private sector to promote inclusive and sustainable industrial development and foster progress by innovation.