FUNDING WITHIN 05 YEARS FOR SMALL AND MEDIUM-SIZED START-UP COMPANIES
The Decree No. 38/2018/ND-CP detailing the investments in small and medium-sized start-up companies issued by the Government on March 11, 2018.
In accordance with this Decree, based on the reality of local government budget, each Provincial People's Committee shall request the People's Council of the same level to consider designating the local financial agency to make investments in startups.
An enterprise invested by the local financial agency must be a startup that operates in priority industries or sectors; and is invested by at least one venture capital fund.
The local financial agency shall quarterly update and publish the list of invested enterprises on its website and the website of Provincial People's Committee.
Total investment made by the local financial agency in a startup as prescribed in Article 22 herein shall not exceed 30% of total investments jointly made by venture capital funds in that startup. The term of an investment with funding from local government budget shall exceed 05 years from the investment date.
This Decree takes effect on the signing date.
