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The Wadhwani Foundation grants a financial fund to Mexican SMEs

The program has no cost to beneficiaries.

November 30, 2020 3 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

  • The Wadhwani Foundation provides a financial fund for the rescue of Mexican SMEs as part of its recovery program for small and medium-sized companies.

Derived from the critical situation of small and medium-sized companies due to COVID-19 , The Wadhwani Foundation, created in 2003 by Romesh Wadhwani, serial entrepreneur from Silicon Valley, will provide support to protect and develop the economy of the State of Chihuahua. The program seeks access to specialized consulting in order to improve the business and innovation ecosystem.

To support SMEs in their recovery, support schemes will be considered through economic subsidies of 100,000 Mexican pesos per company, non-reimbursable, intended for the acquisition of goods or payments of obligations that help to sustain the company and its permanence. of jobs. Additionally, 100% subsidies will be granted for up to 240 thousand pesos in consulting services in digital transformation by EY; financial innovation by Deloitte and in internationalization by GGC.

Image: Depositphotos.com

Companies may use the resource for the payment of payroll, payment of services necessary for their minimum or correct operation, payment of real estate income related to the activity of the applicant, acquisition of movable property, payment of equipment maintenance, acquisition or development of software or licenses, payment of certifications, advertising and marketing.

Calls will be issued in which companies that meet the requirements may apply through the Fideapech page. The criteria for the committee to authorize support for SMEs are a minimum of twenty employees and a minimum of twenty million pesos in annual sales for the immediately preceding year. Fideapech and the Wadhwani Foundation will request verification of the use of the resources. To receive the subsidy, the company must have successfully started the Sahayata business protection program of the Wadhwani Foundation.

Through the alliance of The Wadhwani Foundation with the Government of the State of Chihuahua, Fideapech and the Secretariat of Innovation, this fund was created with the aim of stabilizing companies for the reactivation of the economy. This depends on SMEs being guided and equipped with the necessary experience to grow in the face of the challenges of financial instability with which they present themselves at the moment. This support, in conjunction with leading consulting firms, seeks to stabilize income and protect jobs.

Source: Entrepreneur News Colony | Business News

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