Government will allocate $ 7 million to ventures

Ecuadornews:

A fund of $ 7 million is available to the Government to finance productive projects with seed capital that contain an innovation component.

The Minister of Industries and Productivity, Eva García, presented on Tuesday, August 21 this program aimed at entrepreneurs who work with fresh and processed foods; clothing and footwear; technology, hardware and software; pharmaceutical industry; Transport and logistics; tourism; agroforestry chain, among others.

The program “Mipymes Capital Seed”, intended for micro, small and medium entrepreneurs, will deliver an amount of up to $ 100,000 to projects in the “Idea-Project” stage and up to $ 250,000 for initiatives in the “Start-up” phase.

For this, a public or private operator with experience in innovative productive ventures will evaluate the applications made, then a selection will be made. García explained that the objective of the program is to encourage the creation and implementation of innovative business initiatives that contain a high potential for development and growth, which promote creativity, employment and strengthen the productive matrix.

“Applicants must have a project, which implies having a business plan, objectives, size of the market, expected products, even a return on investment,” said the Secretary of State. The program is part of the Venture Capital Fund, with the “Seed Capital” Entrepreneurs program, which has $ 3 million.

Another program is “Mipymes venture capital”, for which the State plans to allocate $ 2 million. The administration body of the Capital Fund is the Board of the Trust, which is chaired by the Ministry of Industry and Productivity (Mipro).

The board is formed by the ministries of Economy and Finance, Agriculture, Aquaculture and Fisheries, Tourism, and the Secretariat of Higher Education, Science, Technology and Innovation (Senescyt). (I)

Source: https://www.eltelegrafo.com.ec/noticias/economia/4/gobierno-emprendimientos-apoyo-capitalsemilla