Aug 2, 2022 | IDEA TEYC

IDEA TEYC

Balance Center offers many years of experience in the implementation of the IDEA Challenge, it has a team of professionals certified according to the CEFE method that covers all of Albania. The CEFE methodology is a highly participatory, action-oriented training method applied in more than 70 countries around the world.

About

IDEA TEYC is a young entrepreneurs idea competition and development program which aims to develop entrepreneurial mindset, innovation and creative entrepreneurship. It is organized within the program Tirana European Capital of Youth 2022 with financial support of the National Youth Congress in cooperation with the Municipality of Tirana.

IDEA TEYC focuses on the development of entrepreneurship and innovation. The overall objective is to increase entrepreneurial skills among new or existing SME owners who wish to innovate, expand their business, in order to increase their potential competitiveness in the local and global market.

The project aims to develop the culture of initiative, make young people authors and actors, and develop creativity, courage, and talent in sustainable entrepreneurship.

How will the project contribute?

Balance Center offers many years of experience in the implementation of the IDEA Challenge, it has a team of professionals certified according to the CEFE method that covers all of Albania. The CEFE methodology is a highly participatory, action-oriented training method applied in more than 70 countries around the world. It brings together theoretical and practical experience through training for planning your business. 8 days of live training, divided into basic and advanced entrepreneurial skills training, followed by a month of counseling.

What is the expected impact?

IDEA TEYC will contribute to promoting entrepreneurship as a career choice, stimulate hope and reach more than 100,000 young people through the social media of IDEA, TEYC, partner municipalities, and IDEA Connect partners, and of the ecosystem.

 

The 10 best business ideas selected as Finalists will participate in the preparatory workshop to enhance their presentation skills. The finalists will present to the jury members and other IDEA partners to convince them of their business IDEA and Business Plan. 2 Winners of the IDEA Challenge will be supported with a Grant.

Who benefits?

Men and women in the age group of 19-29 years, who are in the early stages of their entrepreneurial activity (they are creating their own business or already have a business within the last 3 years) and plan to innovate and invest in expansion of their business in the municipalities of Tirana, Shkodër.

The project will train 50 young people for creative and innovative entrepreneurship and advice on drafting a business plan. The 2 most innovative ideas will be supported with funding.

What will the training offer?

A lively and vibrant journey for 5 months with multi-participation weekend training, entrepreneurial skills games, individual and group counseling sessions, mentoring with successful entrepreneurs. The program culminates in the final national event of business ideas, the winners will receive financial support and further mentoring from local and foreign accelerators.

The training will consist of 3 modules.

  1. The first training module - 2 days will focus on topics such as entrepreneurial skills and characteristics, generating and selecting ideas, engaging in teamwork, etc.
  2. Advanced business skills - will be addressed in 2 modules of 3 days each for Business Plan and Financial Plan. Young people cultivate the perspective of "Think big and start small" and business development according to the requirements of customers.

Young entrepreneurs will be offered individual advice to work out their business plan. With the IDEA training certificate and a worked out business plan, they are ready to apply for Grants in support schemes for entrepreneurship.

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