The Covid-19 pandemic has caused far-reaching disruption to everyday life and business. Over the past two months, many start-ups were directed to close temporarily to prevent the further transmission of the virus, causing sudden and massive loss of revenue.
As an operational relief measure to assist small businesses, Startup Namibia, in collaboration 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 will be provided on a competitive basis to each eligible and successful start-up.
Eligible businesses must be registered, in operation for less than five years, must be majority Namibian-owned and business bank account statements must show a substantial decline in revenue during the period of the lockdown or thereafter.
The Covid-19 StartUp 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 opened yesterday, 29 April and will run until 8 May. An independent committee comprising of StartUp Namibia stakeholders and partners will assess the grant applications. Grants will be awarded to applicants on a competitive basis. The grant will be paid out in two tranches of N$7 500 with the first to be disbursed to awardees after 15 May.
The second tranche will follow 30 days later. “StartUp Namibia encourages all Startups that meet the eligibility criteria to visit www.startupnamibia.org today and apply. Women-owned and women-run businesses as well as businesses from the regions are specifically encouraged to apply,” read a statement from StartUp Namibia spokesperson, Leitago /Narib.
2020-04-30 10:08:16 | 1 months ago