An incubator for women entrepreneurs

Mongolia has experienced profound changes since its emergence as a democracy, but women still confront unique barriers to economic participation. With pioneering support from the Korean International Cooperation Agency (KOICA), the Mongolian Chamber of Commerce and Industry, Golomt Bank, and Development Solutions, the Foundation and the City of Ulaanbaatar have established Mongolia’s first Women’s Business Center to support women’s entrepreneurship. Since opening in 2016 the Center has already received close to 5,000 visitors, and registered 2,000 entrepreneurs who are learning to access capital, loans, and customers; build networks; and market, manage, and grow their businesses. In June 2017, the WBC opened a new-business incubator, offering state-of-the-art facilities and specially-designed studios for craftsmen, artisans, food-processors, and producers. A four-month, accelerated incubator program for small and startup businesses includes operating space, training and mentoring, and access to a business development fund.