Young entrepreneurs will receive training and funding from the state in 2017 to implement their business ideas. The Cabinet endorsed the expansion of a national program of youth economic endowment (PNAET) for one more year.
20 million lei will be earmarked to back 170 businesses authored by young people. The age of the applicants in the program has been raised from 30 to 35.
The National Program of youth economic endowment has proven to be an efficient tool of involving youth in developing new businesses. 4,103 people have been trained and 1,663 business ideas have been supported financially, as over MDL477 mn have been used. MDL189 mn have been offered as grants.
These investments have yielded over 2,413 new jobs. The Program is managed by the Small and Medium-Sized Enterprise Development Organization.