BML Awards MVR 500,000 Start-up Grants to Local Innovators

Bank of Maldives (BML) has announced the recipients of this year’s Start-up Grant, designed to help new businesses grow. This MVR 500,000 grant will support the development of two local start-ups: The Island Factory and After School.

The Island Factory specializes in creating high-quality Maldivian fish products, while After School focuses on locally designed STEM kits and youth training programs. The winners were chosen after a thorough two-stage selection process. First, their business plans were reviewed, followed by presentations to an evaluation committee.

This marks the third consecutive year that BML has offered the Start-up Grant, continuing its commitment to fostering entrepreneurship in the Maldives.