BML's Startup Grant Is Now Taking Applicants!

Bank of Maldives has stated that the deadline for applicants to send in their forms for the ‘Startup Grant’ is March 16, 2022.
 
The 'Startup Grant' was established in January of 2020, with the aim of allowing small businesses 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. This is great for emerging entrepreneurs, especially youth.
 
How it works is, 10 applicants will be shortlisted and invited to present their plans to BML's Evaluation Panel, and out of them, 4 winning businesses will receive a grant of MVR 500,000 each to start or grow a business in the Maldives.
 
Public Relations Manager at BML Mohamed Saeed said that the grant was available for any individual or registered business that is not older than a year.
 
“We request to submit the applications via email before the deadline. Details of all the documents needed will be available from the website.”
 
The grant is the third series of 12 high-impact monthly community initiatives to celebrate leading up to BML’s 40th anniversary in November 2022.
 
The first series was ‘BML Scholarship Fund’, which was announced in November. The scholarship fund will provide fully-funded international scholarships for three students in the area of Banking and Finance on an annual basis.

The second one was the support given to the relative parties to refurbish and upgrade the National Library of the Maldives.