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12.05.2015

Center-invest Bank Judges Entries in Regional Enactus Competition

Center-invest Bank was one of the judges for the regional stage of the national Enactus competition. Enactus is an international programme to encourage and support entrepreneurial student projects. With its experience of working with young people and start-up projects, Center-invest Bank was well placed to help select the competition winners.

Supporting and developing entrepreneurship in southern Russia is one of Center-invest Bank’s priorities. The bank supports young entrepreneurs through its dedicated “Start-Up” and “Youth Business Russia” programmes. To date, over 350 new entrepreneurs in southern Russia have set up their own businesses together with Center-invest Bank. The bank has provided over RUB470m in finance under these programmes.

Center-invest Bank also provides free training in the basics of entrepreneurship. In March 2013 the bank set up an online training programme “Enterprise for All” (school.centrinvest.ru). To date, over 10,000 people have registered for the course, and 2,600 people have already completed the course and received a certificate.

Center-invest Bank’s own method for appraising business proposals proved useful for the other members of the jury. Instead of relying on balance sheet indicators, the bank uses a point-based system to assess a project’s originality, effectiveness, return on investment, and overall strategy.

The winners of the regional stage of the Enactus competition have been invited to Center-invest Bank’s Financial Literacy Centre for additional free business consultations. In May 2015 they will set off for the national stage of the competition in Moscow. The Enactus national competitions are held annually and culminate in the Enactus World Cup. The best teams from around the world will compete for the Enactus World Cup 2015 in South Africa in October.