The program has no costs for the beneficiaries.
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- The Wadhwani Foundation is granting a financial fund to rescue Mexican SMEs as part of its small and medium-sized business recovery program.
The Wadhwani Foundation, which was founded in 2003 by Romesh Wadhwani, serial entrepreneur from Silicon Valley, and was derived from the critical situation of small and medium-sized businesses due to COVID-19, will provide support in the protection and development of the economy of the state of Chihuahua. The program seeks access to specialized advice to improve the business and innovation ecosystem.
To assist SMEs in their recovery, support programs are being considered through non-refundable economic subsidies of 100,000 Mexican pesos per business, designed to purchase goods or pay obligations that help maintain the business and its continuity . of jobs. In addition, EY grants 100% subsidies for up to 240,000 pesos for consulting services in the field of digital transformation. Deloitte financial innovation and GGC internationalization.
Businesses can use the resource for the payment of payrolls, the payment of services necessary for their minimum or proper operation, the payment of real estate income related to the applicant’s activity, the acquisition of movable property, the payment for the maintenance of Equipment, acquisition or development of software or licenses, payment for certifications, advertising and marketing.
Calls are placed through the Fideapech page to which companies that meet the requirements can apply. The criteria for the Committee’s approval of SME support are at least twenty employees and annual sales of at least twenty million pesos for the immediately preceding year. Fideapech and the Wadhwani Foundation will request a review of the use of the resources. To receive the grant, the company must have successfully launched the Wadhwani Foundation’s Sahayata Corporate Protection Program.
Through the alliance of the Wadhwani Foundation with the government of the state of Chihuahua, Fideapech and the Secretariat for Innovation, this fund was created with the aim of stabilizing companies in order to reactivate the economy. This depends on providing SMEs with guidance and the necessary experience to grow in the face of the challenges of financial instability they are currently facing. This support, in collaboration with leading consulting firms, aims to stabilize income and protect jobs.