The Island Factory, established with support from the Bank of Maldives’ (BML) Startup Grant programme, has expanded its tuna jerky business to more than 80 retail outlets across 17 islands.

Founded by Niyaf Mohamed in Gaafu Dhaalu Hoandedhoo, the business produces tuna jerky using modern processing and packaging methods, offering protein-rich fish products while supporting local fishermen and promoting sustainable fisheries practices.

According to BML, The Island Factory’s products are now available at more than 80 retail outlets, including resorts, across over 17 islands.

More than 30 of these outlets are in Male' and Hulhumale'.

The business received support through BML’s 2024 Startup Grant programme, which provides funding to help entrepreneurs develop and grow innovative business ideas.

Under the annual programme, BML awards two businesses grants of MVR 500,000 each.

The bank said the initiative reflects its commitment to supporting entrepreneurship, encouraging innovation and creating economic opportunities across the Maldives.