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The decision stems from an observation that women had responded more actively during the pandemic slump
On 18 August, the Italian Region of Veneto announced that it has decided to continue its policy to foster women entrepreneurs with capital grants. What is more the authorities informed that these subsidies would increase three-fold their original size - from 2.5 million to 7.5 million euros. The reasoning behind it? Showing support to economically proactive players, and specifically to women, who were not scared by the pandemic and tried to do their part in propping up the regional economy.
Rewarding initiative in critical times
The regional government did not give specific examples of female-led businesses that started or thrived during the pandemic, however, the message was clear that it wanted to encourage and foster the initiative shown by women.
The original call for grants expired in February having disbursed some 2.5 million euros in capital grants to companies with prevalent or total participation of women. The funds availability has now risen to 7 and a half million euros.
Thus, the Regional Councilor for Economic Development Roberto Marcato announced the approval by the Regional Council of the 5 million euro increase in the funds available for the 2021 call, so as to allow the continued liquidity supply for the many requests received.
He explained the decision like this: “The call for female entrepreneurship met with an unprecedented interest. This is a sign of its vitality and of the fact that, in the midst of the pandemic, women have shown the desire to roll up their sleeves and start entrepreneurial activities mainly managed by them. A sign of hope and vitality that confirms that one of the strengths of the Veneto economic system are our own entrepreneurs”.
There is a hunger for investments and the government is responding in a way that favoured a group usually marginalized in the entrepreneurial and business world. The companies that will re-enter the financing will have time to conclude the project by the end of November 2022.
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