StartUp Namibia avails N$15,000 grant for local start-ups
As an operational relief measure to assist small businesses, Startup Namibia together with the Ministry of Industrialisation and Trade and with funds from the German Government, designed
the Covid-19 Startup Grant.
Through this operational support measure, grants of N$15,000 each will be provided on a competitive basis to start ups. Grants will be awarded to applicants on a competitive basis. The grant will be paid out in two tranches (2x N$7,500) with the first tranche of the funds to be disbursed to awardees after the 15 May. The second tranche will follow 30 days later.
The grant will help small businesses meeting the specified criteria to receive a direct supplement to pay wages, fixed costs, and offset decline in revenue during and after the lockdown.
Online Applications open on the 29 April 2020 until 8th May 2020. An independent committee comprising of StartUp Namibia stakeholders and partners will assess the grant applications.
Eligible businesses must be registered, in operation for less than five years and business bank account statements must show a substantial decline in revenue during the period of the lockdown or thereafter.
StartUp Namibia encourages all start ups that meet the eligibility criteria to visit www.startupnam.org today and apply. Women-owned businesses as well as businesses from the regions are specifically encouraged to apply.
Caption: Lucia Iipumbu, Minister of Industrialization & Trade officially launched the #COVID19StartUpGrant.