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On December 28, 2013, the Mexican Secretariat of Economy passed the rules defining the National Entrepreneurs Fund. The objective of this program is to assist entrepreneurs by providing them with different financial grants structured in three different categories: Strategic Sectoral Programs and Regional Development; Business Development Programs; and Entrepreneurs and Financing Programs. Each of these programs was divided into several schemes that focus on different particular areas or topics.
The schemes belonging to the Strategic Sectoral Programs and Regional Development category focus on the development of suppliers; sectorial and regional competitiveness; economic recovery; economic recovery and fight against violence and hunger; regulatory improvement projects. The total budget of this category was circa USD 115 million.
With regard to Business Development Programs, the total budget was circa USD 9 million. The focus areas related to this category were creation and strengthening of the Entrepreneur Support Network; creation, monitoring and strengthening of traditional companies and incubators and high impact companies; strengthening of Accelerators of Companies and of Process of Acceleration of Companies National or International; holding of business events to promote the development of strategic sectors, business meetings and/or entrepreneurship; carrying out entrepreneurship promotion campaigns, transfer of methodologies, workshops and entrepreneurs' camps to foster entrepreneurial skills development; and promotion of innovation initiatives.
In the case of Entrepreneurs and Financing Programs, the programs related to this category deal about access to financing consultancy; development of the entrepreneurial capital ecosystem; the impulse to entrepreneurs and companies through the Program ofHigh-Impact Entrepreneurship; and institutional strengthening of Non-Banking Financial Intermediaries and governmental development entities. The total budget assigned to this category was circa USD 88.5 million.
This fund was born from the merger of the Micro, Small, and Medium Enterprises Fund and the Entrepreneurs Fund and it was englobed in the National Development Plan 2013-2018.
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