November 17 (SeeNews) - Bosnian state-controlled BH Telecom [SAJ:BHTS] said it has launched a 2 million marka ($1.06 million/1.02 million euro) fund aimed at supporting local startups.
BH Telecom will provide the funding as part of cooperation with the Federation's ministry of development, entrepreneurship and crafts and the entity's Chamber of Economy, BH Telecom said in a press release on Wednesday.
Startups established no more than three years ago can apply for funding of up to 200,000 marka by December 31, according to information published on the company's BH TechLab platform.
In 2021, BH Telecom launched a 15 million marka fund to back startups which work on advanced technologies, artificial intelligence, virtual reality, IoT and other technologies.
BH Telecom's shares closed 3.26% lower at 13.16 marka on the Sarajevo Stock Exchange on Wednesday. They did not trade by 9:55 CET on Thursday.
The Federation is one of two autonomous entities that form Bosnia and Herzegovina. The Serb Republic is the other entity.
(1 euro = 1.95583 marka)