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Two Initiatives Promoting Lithuanian Business Nominated for European Entrepreneurship Awards

Date

2012 07 31

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The Ministry of Economy nominated the project “Gates: Corporate Social and Environmental Business Innovations” implemented under the United Nations Development Programme in Lithuania and the project “Centre of Competitiveness” implemented by the public institution Enterprise Lithuania for the European Entrepreneurship Awards. These projects will compete with projects of other European countries for the award.

The winners of the European Entrepreneurship Promotion Awards will be announced in the awards ceremony held in Cyprus on 15 November 2012. The winners of the national selection will be honoured in the celebration Business Day event organised by the Ministry of Economy and held in Vilnius in October this year.

The purpose of the project implemented under the United Nations Development Programme in Lithuania in 2010-2012, which was nominated for the “Responsible Business” Award, is to create necessary conditions to develop corporate social responsibility in Lithuania and encourage companies to apply its principles in their activities. The project is unique and innovative because it simultaneously resolves all the problems hindering the development of corporate social responsibility in an integrated way: the low-level spread of corporate social responsibility in business and weak understanding of its benefit, inactive non-governmental organisation, non-critical media, irresponsible consumers, etc. The project is implemented using the funds of the European Social Fund.

The purpose of the second project implemented by the public institution Enterprise Lithuania is to create and implement a functioning integrated competitiveness assessment and monitoring system enabling to assess the level of competitiveness of particular Lithuanian companies, to determine and eliminate the reasons reducing the competitiveness of companies. This project was nominated for the “Promotion of International Business Development” Award.

This year, the Ministry of Economy received 11 applications in the national selection. These applications were evaluated and the winners of the national selection were elected by the National Selection Commission formed by the Order of the Minister of Economy, which submitted the best projects for the European Entrepreneurship Promotion awards.

The winners of the competition will be selected according to the following five nominations: “Promotion of the Entrepreneurial Spirit”, “Investments in Skills”, “Business Environment Improvement”, “Promotion of International Business Development”, and “Responsible Business”. Furthermore, the special award will be given for the most creative and most inspiring business initiative.

The European Entrepreneurship Promotion awards are given to recognise the most successful enterprise and entrepreneurship initiatives in Europe, and also it is sought to expand the concept of entrepreneurship, to promote favourable business condition creation policy and inspire future entrepreneurs. The European Commission has been organising these awards since 2005.

The winner of the national selection for 2010-2011 was the project “My Guru: New Opportunities in the Labour Market” implemented by the public institution Social Assistance Projects. In the European-level selection, this project was evaluated under the “Responsible Business” nomination.