Bank of Maldives (BML) has announced a startup grant initiative as part of their 12 high impact initiatives to celebrate the lead up to their 40th anniversary.
Through this grant, 4 winning businesses will be awarded MVR 500,000 each. The grant can be used to start or grow a business, whether it is to bring a viable business idea to life, to cover start-up costs such as investing in equipment or expanding to a new market.
According to BML, 10 applicants will be shortlisted and invited to present their plans to the Evaluation Panel and 4 winning businesses will receive a grant of MVR 500,000 each with support from BML to execute the business idea.
To be eligible for the grant, locals aged between 18-60 years old can apply individually or jointly. If it’s a registered business, it should not be registered for more than 12 months.
The Startup Grant is open for applications until 16th March 2022. All applications should be emailed to email@example.com before 11:59pm of 16th March 2022.
More information on how to apply and the documents required are available from the link below.