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Second round of COVID-19 Startup grants open for 500 SMEs

Second round of COVID-19 Startup grants open for 500 SMEs

In order to continue their support to start-ups and small growing businesses, StartUp Namibia and its partners announce Round 2 of the COVID-19 Startup Grant which will see grants of N$15,000 provided on a competitive basis to 500 start-ups.

The grant totaling approximately N$7,5 million will be disbursed to the successful businesses in a single payment at the beginning of October 2020.

For start-ups and small businesses, the Covid-19 restrictions that ensued to curb the spread of the virus meant immediate and massive loss of income and jobs. As such, additional funding for this project is provided by the German Federal Ministry of Economic Cooperation and Development.

Gerlinde Sauer, Counsellor for Development Cooperation at the German Embassy in Namibia said they are happy to extend the targeted support for start-ups and young SMEs during this challenging time.

“We hope that innovative entrepreneurs, especially women, will be able to continue with this support their businesses and lay the basis for their growth in order to make a major impact for a sustainable and inclusive economic recovery of Namibia,” she said.

Nearly 5 months after the first lockdown small enterprises remain in limbo while the resumption of operations is slow. The country remains in the National Stage 3 lockdown and this extended pressure on the businesses is evident in the number of closures and retrenchments.

In May 2020, StartUp Namibia together with the Ministry of Industrialization and Trade and with funds from the German Government successfully provided the COVID-19 Startup Grant worth 15,000 N$ each to 200 businesses. The grant supported various start-ups and small growing businesses to bear the brunt of the pandemic.

Online Applications open on 2 September until 16 September 2020. For eligibility criteria and how to apply, email [email protected]


 

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