Win MVR 500,000 funding with BML Startup Grant
BML Startup Grant is the third initiative of a series of 12 high-impact monthly community initiatives to celebrate the lead up to BML’s 40th anniversary in November 2022.
This grant provides funding for 4 emerging entrepreneurs to win MVR 500,000 each to start or grow a business in the Maldives.
Use it 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.
10 applicants will be shortlisted and invited to present their plans to our Evaluation Panel.
4 winning businesses will receive a grant of MVR 500,000 each
Support from BML to execute the business idea
New Businesses, unregistered
Your business idea can be for a new idea if you’re starting a business or for an existing business that’s less than 12 months. The proposed idea should be presented in the form of a comprehensive business plan. Any illegal/prohibited activity or business idea conflicting with the interests of the Bank are not eligible for the grant.
A professional Business Plan must be submitted as part of the application. This will describe the business, its objectives, strategies as well as financial forecasts. It will help formulate a clearer business idea, identify potential opportunities and problems, while measuring progress against set goals. A sample format of the business plan is attached as an idea.
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 an evaluation committee. Each finalist will be given 30 minutes to present the key areas of the proposal. The venue and date will be informed individually to the finalists.
4 winners will be selected based on presentation and will receive a maximum funding of MVR 500,000 each.
Applications for BML Startup Grant has been closed now. Winners will be announced in May 2022.