NESsT and Citibank Hungary today announced the winners of the 2008 NESsT-Citi Social Enterprise Competition in Hungary. This initiative supports the establishment of social enterprises in Hungary, Czech Republic, and Slovakia in order to increase self-sustainability of civil society organizations (CSOs). Thanks to this initiative sponsored by the Citi Foundation and launched in 2007, these organizations will be able to go to greater lengths in their struggle to effect social change in Central Europe and provide greater opportunities to their beneficiaries.

23 organizations participated in this competition and finalists received training and one-on-one mentoring from NESsT and presented their business plans. The NESsT team was joined by Citi employee volunteers and other local business advisers to assess social enterprise ideas and provide consulting as CSOs moved through the different stages of the development process.

Batara Sianturi, Citi Country Officer for Hungary said: "Supporting non-profit organizations is a key priority for us at Citi as these are the organizations through which we can do the most to benefit the local communities and better the lives of people around the world where we live and work. This program is special particularly because our financial and human resources are not going directly in support of the organizations' operations and implementation of their social goals but to help them start their own enterprises that will create the basis for their long-term sustainable development. We know from feedback from the civil organizations taking part in our program how much they appreciated the professional advice and support they received from our Citi employee volunteers which we are very proud of."

First place for the strongest social enterprise business plan was awarded in the amount of US$ 10,000 to Barka Foundation based in Dunaharaszti, who will enter the NESsT Venture Fund Portfolio. Barka Foundation (www.larche.hu) works to promote the social integration and acceptance of people with intellectual and combined disabilities. Barka will receive a grant and consulting support from NESsT to further develop its social enterprise designed to develop and market a high quality, designer product line of home decoration and gift items created by people with intellectual disabilities. The enterprise provides regular employment to the beneficiaries and displays their creative talents.

According to Aron Jakab of the Barka Foundation, "NESsT has provided essential assistance in teaching NGOs a kind of profit-oriented approach and how they can launch a profitable social enterprise. This approach is totally missing in our country; everyone (in civil society) is still counting on ever-decreasing government funding."

Zold Kor Association, Hajduboszormeny (www.zoldkor.net) was awarded runner-up and will receive US$ 8,000 from NESsT thanks to the generous support of the Trust for Civil Society in Central and Eastern Europe, for the further development of its municipal paper waste selection and recycling system. Zold Kor works to establish a living, livable and sustainable future through environmental and nature conservation activities. 

NESsT Enterprise Development Director, Eva Varga and Citi Country Officer for Hungary, Batara Sianturi, presented the winners with their awards.