The Start for Youth business support program is planned to be extended until 2023.

The Start for Youth business support program is planned to be extended until 2023.

According to the developed draft government decree, the previously envisaged period for the implementation of the program (until 2020) is proposed to be extended by 3 years. Accordingly, the budget of the program will increase by another 60 million lei - up to 120 million lei. In addition, companies that were registered no more than 2 years ago will be admitted to the program (currently, young entrepreneurs who have just registered a business can participate in the program). In addition, companies operating in the public catering sector will be able to receive funding under the program. Supporting this direction will increase the social and economic impact of the program, stimulate the application of best practices and experience, promote job creation, attract investment in the economy, etc. The proposed amendments are to be approved at a government meeting. Recall that the Start for Youth program is intended for young people aged 18-35 who want to start their own business or are already running a recently registered enterprise in the country. The program is implemented by ODIMM. In 2018-2020 within the framework of the program, 670 young people took part in 25 hackathons to generate business ideas. Subsequently, 645 people received entrepreneurship training and support in the development of an investment project. Then 152 projects were selected for funding (the maximum grant amount is 180 thousand lei), they received grants for 24.59 million lei. About a third of projects were implemented by young people from rural areas, it is noted that 41% of projects were implemented in the service sector, 37% - in the processing industry, 22% - in the agricultural sector and animal husbandry. The implementation of new projects contributed to the creation of 375 new jobs (of which 208 - for women) and made it possible to attract about 45 million lei to the economy. In the fall of 2020, within the framework of the next competition of projects for financing, projects of another 130 companies created by young entrepreneurs were approved.// 19.01.2021 — InfoMarket.

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