Fund for ideas of micro enterprises

Ecuadornews:

With an investment capital of $ 7 million, the Ministry of Industries and Productivity (Mipro) will implement the program Mipymes Capital Seed for the promotion and development of productive innovation projects.

Idea-project will be financed up to $ 100,000 with a maximum execution period of 18 months and project start up to $ 250,000 with a maximum execution period of up to 24 months.

There are fourteen sectors towards which the fund will be directed and are considered priorities by the Government: fresh and processed foods, biotechnology, apparel and footwear, renewable energies, pharmaceutical industry, transport and logistics, agroforestry chain, metalworking, petrochemicals, renewable energies, industry oil, environmental services; vehicles, engines, bodies in their parts and pieces; tourism; and processed wood products.

The eligible projects are the so-called innovative processes and innovative products, be this good or service. A counterpart of at least 20% of the total cost of the project is required.

A second component of the Seed Capital is $ 3 million for entrepreneurs and the Mipymes program of the Venture Capital component with $ 2 million.

The nominations to access the Fund, called Risk Capital, will be evaluated by a public or private entity with experience in innovative productive projects, said Mipro.

The Fund will be administered by the National Financial Corporation. (I)

Source: https://www.eluniverso.com/noticias/2018/08/23/nota/6918485/fondo-ideas-microempresas