Enterprise Incubator LIL

closed

The Enterprise Incubator (LIL) Project will help unlock the institutional rigidities that hinder the development of Armenia's human capital, in particular, as it relates to the business environment, so as to prod economic growth. The project design reflects the approach of encouraging creativity, experimentation, and accountability management, thus its components call for: 1) financing the telecommunication infrastructure needed to house high-tech companies, and information technology (IT). To this end, local area networks will be linked to a hi-speed internet service provider, and communications hardware/software, while services will be related to a distance learning center equipped with computerized teaching aids, which will be offered to local and medium size enterprises - first preference being IT business - based on available business plans; 2) provision of a business services center, to assure current market demands for IT skills, by financing consulting services for development of a business plan formulation, including operational costs, as well as managerial, and senior staff placement costs, at countries or regions with export oriented IT sectors, and by enhancing basic management, and business communications skills; 4) provision of on-demand technical training, by supporting professional education, through training programs, and extensive knowledge for emerging business entities, in cooperation with the Skills Development Facility, and, entrepreneurship grants will cover initial business investment costs; and, 5) provision of financial, accounting, and procurement support, through technical assistance, and consulting services.