Istanbul, September 24 – Powered by the United Nations Development Programme (UNDP), BOOST, a regional impact acceleration programme, is launching an initiative for innovative financial solutions for urban transformation
The Western Balkans region has long faced financial difficulties in securing adequate funding for urban development. Cities often grapple with strict regulations, limited budgets, and a lack of interest from investors, among other things. This has made it particularly challenging to pursue sustainable, green, and inclusive urban growth. Yet, there are promising innovations emerging in how cities organize themselves and finance development, enabled by a stronger civil society and digital technologies such as blockchain, machine learning, and AI, that are beginning to unlock new ways to bridge resource and financial gaps and empower growth.
The BOOST: Urban Future Finance acceleration programme seeks to identify, accelerate, and scale emerging or existing innovative financial solutions. By doing so, it aims to catalyze urban transformation and unlock growth potential across the region. Up to 20 innovative financing solutions will be selected to participate in this unique opportunity, receiving comprehensive technical assistance from UNDP and partners.
The BOOST programme is open to a diverse array of applicants – from startups and social enterprises to non-profits, municipalities, and academic institutions – who are based in or plan to deploy their solutions in Albania, Bosnia & Herzegovina, Kosovo1, Montenegro, North Macedonia, or Serbia. In addition to access to a network of investors, cities and innovative finance experts, the selected participants will benefit from tailored training sessions and personalized mentorship in key areas such as impact measurement, business model development, and digital transformation. To qualify, applicants must have developed at least a Minimum Viable Product (MVP) and demonstrate their solution’s potential to drive innovation, scalability, and measurable social, environmental, and/or economic impact.
UNDP is committed to reimagining urban finance to overcome the barriers to sustainable urban growth. “Through this new acceleration programme, we strive to catalyze urban transformation in the Western Balkans by nurturing innovative financial solutions that bridge funding gaps, engage communities, and unlock sustainable development potential in cities across the region,” says Ievgen Kylymnyk, UNDP.
The deadline for applications for the BOOST: Urban Future Finance acceleration programme is October 21, 2024. The programme will kickstart with a four-week long BOOSTCamp, including an in-person event in November 2024. This will be followed by personalized mentorship, peer-to-peer learning and pitch training, which will culminate in a Demo Day in April 2025 where participants will have the chance to pitch to UNDP, cities and potential investors. This journey will equip participants with the tools, networks, and expertise necessary to further develop, expand and scale their innovative finance solutions for urban growth.
As a regional initiative, powered by UNDP Europe and Central Asia, the BOOST programme is committed to advancing urban development through cutting-edge financial solutions. The programme is funded by the Ministry of Finance of the Slovak Republic and offers participants a comprehensive acceleration journey to help them strengthen their business models, embed impact, explore new financing options, and integrate digital technologies.
For more information on the BOOST: Urban Future Finance acceleration programme and how to apply, visit BOOST website, and register for our information session on October 10, 2024 at 11 CET.
Contact information:
Svetla Baeva, Communications Lead, Innovation Team, UNDP Europe and Central Asia
Email: svetla.baeva@undp.org
About UNDP
UNDP is the leading United Nations organization fighting to end the injustice of poverty, inequality, and climate change. Working with our broad network of experts and partners in 170 countries and territories, we help nations to build integrated, lasting solutions for people and planet. Learn more at undp.org or follow at @UNDP.
About BOOST
BOOST is a regional impact acceleration programme, powered by UNDP Europe and Central Asia. It harnesses innovation for development by reimagining our future and nurturing a community of innovators in the region.
1 References to Kosovo shall be understood to be in the context of United Nations Security Council resolution 1244 (1999).