Bank of Maldives urges final submissions for 2026 Startup Grant before Tuesday deadline
The Bank of Maldives reminds entrepreneurs that applications for its MVR 500,000 Startup Grant close at 14:00 on 10 November, with two grants and a year of mentorship on offer.
The Bank of Maldives (BML) has issued a reminder that the deadline for its 2026 Startup Grant programme is 14:00 (2 pm) on Tuesday, 10 November. Applications must be sent by email to startupgrant@bml.com.mv before the cut‑off.
Grant details and eligibility
Under the scheme, BML will select two recipients, each receiving a non‑repayable cash grant of MVR 500,000. The funding is intended to help launch a new business or expand an existing venture that has been operating for less than one year.
In addition to the financial award, each winner will be provided with a year of mentorship support, delivered by a dedicated Relationship Manager from the bank. The mentorship is designed to offer technical assistance and guidance on business development.
The programme is open to individuals seeking to establish a business and to newly registered companies. Applicants are required to meet the eligibility criteria set out on the BML website and to submit supporting documentation as outlined in the application guidelines.
Background of the initiative
The Startup Grant was introduced by BML in 2022 to stimulate entrepreneurship and SME growth in the Maldives. Since its inception, the grant has been allocated without repayment obligations, allowing recipients to use the funds directly for business development.
Further information on the programme, including detailed application requirements, is available on the Bank of Maldives website at www.bankofmaldives.com.mv/startup-grant and via the email address mentioned above.
