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Tuesday, March 28, 2023

The Ministry of Economy will allocate $1,000 million to finance entrepreneurs

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The objective of the initiative is to generate financial assistance tools for entrepreneurs and start-up development ventures.

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He Ministry of Economy will finance with $1 billion the creation, start-up and initial development of ventureswhich aim to generate value added and develop the chain of activities of productive sectors.

For this it is summoned to those human or legal persons that are developing ventures in “Ideation and Start-up Stage” and in “Initial Development Stage”as made official through the Resolution 72/2023 of the Industry Secretariatpublished this Tuesday in the Official bulletin.

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The goal of the initiative is generate economic assistance tools for entrepreneurs and start-up development ventures and had been recently anticipated by the area secretary, José de Mendigurenis called “Dynamics”.

To carry out this measure and the call for projects that meet the requirements set forth in the resolution published in the Official Gazette, the Executive Power assigned $1,000 millionwhich will be financed by the Trust Fund for the Development of Venture Capital (FONDCE).

When can projects be submitted?

The project presentation be from March 20 to May 8 from 2023 inclusive. In accordance with the provisions, the projects should aim to achieve certain goals. Among them, it can be counted that the enterprises aim at the adoption and/or technology developmentenlargement and/or infrastructure improvements and acquisition of physical assets and process improvements, obtaining certifications and qualifications.

In addition to meeting the objectives stipulated by Resolution 72/2023 of the Ministry of Industry published in the Official Gazette, the projects that want to participate in this initiative will also have to fall under various “strategic axes”: green economyhealth, sustainable mobilitydefense and national security, food productiondigitization, medical cannabis and hemp for industrial use, development of mining, oil and gas suppliers.

Source: Ambito

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