RAMALLAH, Wednesday, July 08, 2020 (WAFA) - The Med Microfinance Support System for Startups (MEDSt@rts), the Mediterranean project, funded by the European Union and implemented by Leaders International in Palestine, is calling aspiring Palestinian entrepreneurs to apply for its startup support grants, which will facilitate the access of these entrepreneurs to finance and help them advance their innovative ideas, according to a press release.

The project is targeting young, motivated, and innovative entrepreneurs in the sectors of digitalization, agri-food, eco design, craftsmanship, cultural heritage, tourism, personal services, green and social innovation, isolation economy, and education. Candidates will be evaluated based on a clear and transparent scoring matrix that considers aspects like participation of women and youth, the relevance of the idea to the project and setting, as well as its sustainability potential, it explained.

Selected business ideas will pass through a technical-assistance process to strengthen their entrepreneurial and business skills in an effort to define and refine their business ideas’ scalability and sustainability, said the press release. This process includes phases of training, mentoring, and further reselection, which will narrow participants down to 15 with each receiving financial support up to €10,000.

Ultimately, the creation of 15 new startups will have a lasting impact on job creation, employment, innovation, diversification in available goods and services, and a socioeconomic response to market needs otherwise unmet, it added.

M.K.