Press releases

128 young people from the Republic of Moldova will obtain State grants to start up their own businesses. The organisation for the development of the sector of Small and Medium Enterprises (ODIMM) released the results of the first grant competition under the “START PENTRU” programme: a sustainable business at home.

The total amount of grants is lei 20.34 million. The implementation of young people’s investment projects will help create around 479 jobs, of which 330 jobs for young people and 267 for women. The business backed by this programme will help attract around lei 38.78 million investment to the economy.

Beneficiaries’ applications were received between January and February and evaluated online during the state of emergency.

The Minister for Economic Affairs and Infrastructure, Sergiu Railean, stressed that maintaining young people in the country and motivating them for the pursuit of entrepreneurship activities, mostly in rural areas, gave a boost to initiating this programme financed by the state budget: “The main problem for young entrepreneurs remains access to easily accessible financial resources. This programme proposed us to integrate young people from Moldova into the economic circuit and facilitate the start-up and development of business,” said the Minister.

“This programme gives young people a chance for a better future, rests their trust in their own forces and complements their entrepreneurial information vacuum.We look at the fact that the Programme enjoys increased interest among the young generation and we are convinced that the future of business belongs to young people”, stressed Iulia Costin, Director General ODIMM.

Out of 128 investment projects accepted for funding, 66 businesses are created/managed by women and 11 by disadvantaged young people. More than 75 % of the businesses created by young people will operate in rural areas. The most active municipalities being the City of Chișinău, UTA Găgăuzia, blood, Rhine, Soroca, Orhei, Ungheni, Căușeni and Sttefan – Vode.

Following the analysis of the business projects of young participants in the Programme, it is worth noting the ingenuity and innovation of the business ideas submitted, such as:production of edible pharmacies, waste processing and collection activities, manufacture of wood vouchers, production of customised textile toys, growth of micro plants, growth of African sunmon, manufacture of personalised wood education toys, production of LEGO bricks, design and printing of articles 3D, production of marble decort leather, creation of ecveto tourist centre, etc.

We recall that National programme “START YEP FOR young people: a sustainable business at home” was launched in February 2019 and aims to develop youth entrepreneurship and encourage business start-ups, especially in rural areas, by facilitating access to financial resources, training, consultancy and mentoring in managing and expanding the business.

Throughout 2019 20 hackathons in all regions of the countryto boost the creativity of young people across the country in generating ideas and identifying the most viable and innovative potential business ideas. As a result, 530 young people were trained in the entrepreneurial field and guided in the development of investment projects.

Programme, aims to transform circ600 young peopleaged 18-35 years, in the process of generating business ideas: (I) educating and assisting at least 540 young people in initiating the development of the innovative business; (II) large-scale grant of RON 180 thousand 250 business initiated and developed by young entrepreneurs; (III) creation and maintenance of at least 400 new jobsmostly 70 % in rural areas. At the same time, 10 % from the business supported through the Programme to be initiated by disadvantaged young people.

The implementation of the 3-year programme allocates lei 60 million from the State budget.

Seeslist of winners: https://bit.ly/3cManBX