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SDG Accelerator for Small and Medium Enterprises (SME) as a concept was developed by UNDP in Denmark, where it was tested in 2018 and 2019 by 30 Danish SMEs, after which is it is planned to expand the venture to other Nordic countries and globally.
SDG Accelerator for SMEs in BiH
During the pilot phase of the SDG Accelerator for SMEs in BiH, the top international and domestic experts will work directly with 5 SMEs in BiH to provide support, guidance, and a comprehensive methodology aimed at development of new products, services, or business models based on the Sustainable Development Goals (SDGs). In addition, companies will be assisted in communicating and training employees to integrate sustainable development through internal campaigns and activities.
The SDG Accelerator for SMEs has three general goals for change:
• Developing at least one solution in every enterprise based on sustainable development, whether it is a product, service, or business model, using innovations based on sustainable development.
• Sustainable innovation as a basis for creating a broader understanding of how companies can work towards social and environmental sustainability, locally and globally.
• A model that can inspire companies that are not covered by the program to start integrating SDGs into their businesses.
The SDG Accelerator for SMEs will be operational from January to September 2020. The application process begins on December 15, 2019.
Why is SDG Accelerator for SMEs important?
The SDG Accelerator for SMEs is unique because it combines UNDP’s insights into the challenges embedded in SDGs, with advice being provided by the experts from renowned company Deloitte, as well as the advisory competencies of relevant partners in the innovation process. The SDG Accelerator for SMEs has been developed in close collaboration with Nordic companies with extensive experience in integrating sustainability into innovation, business strategies and communication.
Why should companies participate in the SDG Accelerator for SMEs?
Development of new products, services, and business models
The companies are part of a six-month “innovation journey”, which is made up of ideas that can be quickly realized with strong SDG and business potential, identification of new products, services or business models, and, at the end of the prototype development, concrete business plans. The innovation journey consists of five phases, including three one-on-one meetings with each company and two joint workshops with all of the companies, UNDP representatives, relevant business partners, and investors.
The aim is to provide the right inputs to implement the business and SDG ideas, while at the same time, working to build-up the appropriate capabilities of each company.
Companies will be supported to transfer their insight about SDGs via internal communication, and in activities aimed at raising awareness of the SDGs and supporting employee engagement in achieving them. In particular, participating companies will receive specially developed material to activate their employees in achieving the SDGs. The material can also be adapted to the specific context in each company.
Communication and inspiration for other companies
Communication is a key part of the program. Therefore, the progress, results, and examples of the SDG Accelerator for SMEs will be shared through the mass media and social media to serve as an inspiration for other SMEs looking to innovate and strengthen their businesses by working on the SDGs. To maximize the impact, the processes and tools used in the SDG Accelerator for SMEs will be made publicly available to other companies to support them in using the SDGs as levers for innovation and growth.
The costs of participating in the SDG Accelerator for SMEs, as well as the costs of meetings, expert advice, and innovation travel, will be covered by UNDP.
To get involved, follow the official hashtag #sdgacceleratorbih on social networks.
The SDG Accelerator for SMEs is part of the project “The SDGs Roll-out Support and Private Sector Engagement Project in Bosnia and Herzegovina”, implemented in Bosnia and Herzegovina by UNDP and funded by SIDA.
Contact: Emir Adžović, UNDP, firstname.lastname@example.org, +387 33 293 497