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Integrated Baltic Ecosystem for Social Innovation

Project description

Building a social economy in the Baltic states

Integrated Baltic Ecosystem for Social Innovation (IBESI) is a Horizon Europe project aimed at raising awareness and facilitating access of Baltic States’ social entrepreneurs to the resources of local and pan-European “traditional” innovation ecosystems. In light of a shortage of social enterprises with profit-generating business models and their poor integration within existing entrepreneurship ecosystems, the project will take on several initiatives over the next 24 months to achieve its three expected outcomes: 1) improved connections with innovation ecosystems, 2) wider access to alternative financing and 3) tested innovation models with the potential of scale-up and replication. In short, the IBESI project aims to help Baltic social enterprises become more competitive.

Objective

Social entrepreneurship is still developing in the Baltic States. There are low numbers of social enterprises (SEs), and most of them lack profit-generating business models. Moreover, social entrepreneurs lack connections with the overall innovation ecosystem.

The goal of the Integrated Baltic Ecosystem for Social Innovation project (IBESI) is to ease the access of Baltic States’ social entrepreneurs to the resources of innovation ecosystems. Two objectives will help to achieve this goal. First, the project aims to strengthen the social economy of the Baltic States by integrating social innovation actors with existing entrepreneurship ecosystems. Second, it aims to increase the number of the region’s social economy actors having strong entrepreneurial skills. The project also intends to encourage the transfer of knowledge and interlinking between a more mature social innovation market - the Nordics - and Baltic States as well as between social innovation actors within the region.

The activities of the IBESI project target key challenges preventing the development of the social economy in the region. Social innovation training for hubs will improve entrepreneurs’ knowledge about social innovation and their motivation to contribute to this sector. Hackathons aim to decrease the lack of SEs in the region, while accelerators that partly rely on the knowledge transfer between social entrepreneurs and experts from other sectors will ensure that social entrepreneurs have the competencies necessary to develop successful SEs. The mapping of the social finance ecosystems in the region and crowdfunding pilots will improve SEs confidence to apply various financial strategies, while Nordic/Baltic workshops for investors will encourage impact investments. The reports, study visits and workshops for policymakers intend to scale successful innovation models from the Nordic to the Baltic countries.

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Coordinator

BALTIC INNOVATION AGENCY OU
Net EU contribution
€ 160 625,00
Address
Lai 30
51005 Tartu
Estonia

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
Eesti Eesti Lõuna-Eesti
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Links
EU contribution
No data

Participants (3)