Win MVR 500,000 funding with BML Startup Grant
The BML Startup Grant aims to foster emerging entrepreneurs to explore new business ideas, start-ups, or grow an existing micro or small business in the Maldives. The applicants will be required to present viable business ideas in the form of a business plan.
A total of 10 applicants will be shortlisted and required to pitch presentations. 2 winning pitches will be granted MVR 500,000 each to implement the presented business idea within 6 months of awarding the grant. Winners will be selected by an evaluating committee appointed by the Bank. Furthermore, business support will be provided by a Relationship Manager of the Bank for each winner for a period of 1 year as after-care support to the winners.
View Terms and Conditions
BML Startup Grant does not limit business ideas based on a specific sector. The proposed ideas shall be viable and presented in the form of a comprehensive business plan in the provided format. Any illegal/prohibited activity or business idea conflicting with the interests of the Bank are not eligible for the grant.
The Business Plan format
The business plan should not exceed 40 A4 size pages including figures and tables. All of the areas provided in the business plan format shall be addressed clearly in English language. The business Plan should be submitted with the BML Startup Grant Application Form.
From the successful applicants, 10 finalists would be selected and required to present the business idea in front of the evaluation panel. Each finalist will be given 30 mins to present the key areas of the proposal. The venue and date will be informed individually to the finalists.
2 winners will be selected based on presentation and will receive a maximum funding of MVR 500,000 each.
The Startup Grant is open for applications until 2nd July 2023. Send the applications to [email protected] before 11:59pm of 2nd July 2023