Government to grant subsidies of up to US$45,000 for software entrepreneurs

- Friday, January 7, 2011

Government to grant subsidies of up to US$45,000 for software entrepreneurs

Argentina's government will grant subsidies of up to 180,000 pesos (US$45,000) to computer software and services entrepreneurs during the fourth edition of the Fonsoft Entrepreneurs competition, according to state-run news service Telam.

Entrepreneurs in the computer software and services industry can submit proposals until April 28 to be considered for Fonsoft Entrepreneurs 2010.

According to Argentina's science and technology ministry, Mincyt, which is funding the subsidies, this year's edition will promote the entrepreneurial spirit in the computer software and service sector. The subsidy is to assist in forming new enterprises in the sector while also consolidating existing companies.

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While the subsidies can be as much as 180,000 pesos per project, the amount received must be less than 50% of the project's total cost. To be eligible, the projects must be from individuals or small and medium enterprises in which the ownership or partnership is less than two years old. Recipients of grants in the 2007, 2008 or 2009 contests can enter the 2010 edition as long as they have finished at least 70% of the previously subsidized project.

Mincyt will categorize proposals by those related to video games, agribusiness, industrial IT, bio tech, medicine and health, and those related to wireless telephony, internet and mobile wireless, security, e-government, geographic information systems, image processing, and tourism.

Fonsoft Entrepreneurs 2010 is headed by the national science and technology promotion agency through Fonsoft, the software industry promotion fund.