MFMC is interested to promote the potential startups with innovative ideas to penetrate the market and expand their businesses. The important role that startups play as engines of innovation, growth and employment, is what MFMC is looking to invest in. “SME Innovation Fund” will try to balance out the projects that are financed under the fund in-line with the sectoral and geographical priorities and the investment share range.
Therefore, within the SME fund, MFMC provide a grant scheme, which will be specifically targeted to promote the most innovative ideas. The SMEs will have the privilege to apply for the grant scheme by participating in the Maldives Innovation Quest. The aim of the Maldives Innovation Quest is to fosters a community that practices strategic reason around disruptive innovations.
The proposals/the ongoing projects that qualify for the scheme will be selected through a judging panel consisting of 6 judges from diverse backgrounds which includes prominent entrepreneurs, IT specialists, and those from research and education background.
Application Deadline: 20th February 2020
Announcement of shortlisted participants: 23rd February 2020
Pitch Competition: 25th February 2020
Awarding: 27th February 2020
The top 5 from the Maldives Innovation Quest 2020 will be qualified to compete for the position of National Winner who will be awarded the “Maldives Innovation Award”.
The winner gets a chance to participate in the National Pitch Competition held by AIM2020, in Dubai.
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