Bank of Maldives (BML) has selected the two recipients of their Start-up Grant this year, which aims to assist new businesses to develop successfully.
Bank of Maldives (BML) has selected the two recipients of their Start-up Grant this year, which aims to assist new businesses to develop successfully.
This is an MVR 500,000 grant that is given for development of upcoming businesses or for new start-ups.
This year the Grant has been received by The Island Factory and After School.
The Island Factory produces high quality local snacks, mainly as Maldivian fish products.
After School provides locally designed and assembled STEM (Science, Technology, Engineering, and Mathematics) kits and training programs for youth.
The two winners were selected through a rigorous evaluation process carried out in two stages.
In stage one, the business plans were reviewed and a shortlist of ten was created. Following this came stage two, where the shortlisted candidates then presented their business ideas to the evaluation committee.
This is the third year that BML has awarded the Start-up Grant.
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