Bank of Maldives (BML) has announced the two winning businesses for the BML Startup Grant 2023.
The grant is targeted for emerging entrepreneurs to win funding of USD32,425 to start or grow a business in the Maldives. As such, the grant was given to Aminath Hameed to establish a bakery with high-quality, unique bakes and pastries, and Sanfa Nazahath Ahmed to establish a physical rehabilitation service in Naifaru, Lhaviyani Atoll.
Chief Executive Officer (CEO) and Managing Director Karl Stumke congratulated the winners for their excellent pitches and the quality of their submissions. He said BML is proud to support these businesses and that the bank looks forward to witnessing them create new opportunities while making a positive impact in the community.
The winners were selected through a competitive evaluation process comprising of two stages. During the first stage, business plans were evaluated to shortlist the 10 most promising applicants. The selected applicants were required to present the business idea to an evaluation committee.