The municipal pilot program “Start-up for young people and migrants” aims to stimulate entrepreneurship among young people and migrants in the municipality of Chisinau, by facilitating the launch and development of sustainable businesses and supporting the creation of new jobs.
The financing activities within the Program constitute an aid scheme for 4 categories of beneficiaries, including young entrepreneurs aged between 18 and 40, with a residence visa in the municipality of Chisinau and who want to open a business or own a business in the business category small and medium, registered in the municipality of Chisinau for no more than 12 months.
Migrant workers or their first-degree relatives, aged 18-40, have a permanent residence visa in the municipality and own a company registered in Chisinau in the last 12 months can also enroll in the Program.
Also, young investors, from 18 to 40 years old, who own a business and have made investments from credit resources in the last 24 months, can also apply, they will be able to benefit from compensation for the payment of interest paid on investment loans, contracted for the purpose of development the business created.
Young refugees, future entrepreneurs who have created a partnership with a young resident who has a residence visa in the municipality of Chisinau, both aged 18-40, who want to start a business or own an enterprise registered in the territory of the municipality of Chisinau, can also apply here.
The Program’s priority areas include businesses that
- they will carry out production activities or provide services
- contain innovative activities / intend to implement technology transfer and know-how projects
- are focused on the development of the following fields: the information and communication technology industry, electromechanics, the agro-food and hospitality industry, the light industry, the creative industry, tourism, health and beauty, professional, scientific or technical activities, the production of renewable energy
- provide services/products to third party companies
The program will offer young people, migrants and young refugees from Ukraine, who want to create mixed businesses in the territory of Chisinau, financial support in the form of non-refundable funding (grant) in the following ways:
A. Financial support for business launch
1. The amount of the grant is no more than 70% of the value of the investment project and will not exceed 200,000 lei for financing the investment project
2. The beneficiary’s contribution will constitute 30% of the value of the investment project
B. Financial support to cover interest on investment loans
1. The support is given to SMEs where the founder and administrator are the eligible beneficiaries of the Program (young people and migrants), who obtained investment loans in the year preceding the submission of the application and in the current year from commercial banks and non-banking financial institutions registered on the territory of the Republic of Moldova and service them according to credit agreements
2. The maximum amount compensated is 100,000 lei
The selected winners must have the necessary financial resources for co-financing in the amount of at least 30% of the cost of the investment project.
The co-financed investment project is to be carried out within 24 months from the date of signing the financing agreement.
The financial resources necessary for the implementation of the Program were provided in the municipal budget for 2022 and amount to 10 million lei.