The small and medium-sized enterprises (SMEs) of Moldova can benefit from direct financial support from the UNDP-funded Innovative Business Development for Local Sustainable Economic Growth Project. Thus, the United Nations Development Project invites the SMEs to apply again for financing online, on www.inobiz.md.

According to a press release of the Ministry of Economy, the SMEs can submit their innovative project proposals concerning products, services or business processes that are to be significantly improved by applying innovative solutions.

The criteria for selecting innovative projects are: innovation degree; market potential; implementation team. There will also be analyzed the applicant’s financial capacity to mobilize the own resources inclusively for implementing the project.

The contest, staged with the financial support of the Government of Norway and the support of the Ministry of Economy, is organized with the participation of national and foreign experts working in the field. The deadline for applications is May 3, 2016.

Last year, 63 SMEs benefited from direct financial support from UNDP Moldova in the form of grants of up to US$8,000 per project.