ISLAMABAD, Pakistan, Jan 4 (APP): To promote and support the country’s SMEs, the Small and Medium Enterprise Development Authority (SMEDA) has solicited applications for small company grants for “Growth Stage Startup” of up to Rs500,000 to each organisation on a first come, first served basis.
According to an official source, the Early Stage Start-Ups award is intended to provide financial assistance to entrepreneurs to help them fulfil their business’s capital or operating needs. Interested businesses must submit their applications by January 21.
SMEDA’s Grant Program provides money to qualifying SMEs for the acquisition of machinery, equipment, and testing apparatus/ equipment necessary for product, process, or quality testing, as well as office equipment, including IT equipment, required for conducting company operations.
Furniture and fixtures for company operations, raw materials for completed products manufacturing, stocks for trading activities, prototyping/product testing from any certified laboratory, software licence costs, and business-related software services
The project is being carried out across the nation as part of SMEDA’s National Business Development Programme for SMEs (NBDP), which includes the issuance of minor incentives, according to the organisation.
Women, persons with disabilities, minorities, candidates from underserved areas, and enterprises in the information technology (IT), food processing, and tourism sectors are invited to apply, according to the announcement.
The application will be assessed based on the entrepreneur’s profile, the enterprise’s profile, and the predicted grant impact, according to the statement.