Help for Self-help for the Ukrainian Mittelstand

MIT AG is supporting the Ukrain “Mittelstand” since 2006 and initiated together with the Ukraine-Bavarian-Management-Trainingcenter (UBMT GmbH) the “Businessplan Competition Odessa”.

An initiative of the Bavarian Ministry for labor, family and women established1993 a German cultural center in Odessa: The Bavarian House and the UBMT as it’s commercial daughter. One of the important issues there is the support and fostering of the Ukrainian “Mittelstand”. This small cap company landscape is still largely underserved due to the formal socialistic economic and political culture in the Ukraine. The “Businessplan Competition Odessa” aims to encourage Ukrainians  with an idea for a business to start their own company. For Markus Sackmann, Secretary of State of the Bavarian Ministry for labor, family and women “is the Businessplan Competition Odessa an interface between Bavaria and the Ukraine which helped to initiate and realize the transfer of know-how and experience.”

Not only is the MIT AG sponsor of the competition. They also support the participants with their specific know-how: In order to realize their ideas swiftly and successfully the potential start-up entrepreneurs learn all about the necessary tools – like creating a professional business plan. In addition, MIT invites successful companies to come to the Ukraine and help coaching the participants. The best ideas are awarded with up to 5.000 Euro.

Since 2006 a total of 149 Ukrainians did participate in the competition and submitted 54 business plans. They laid seed for 12 successful start-ups and 5 business extensions.