Conaculta creates funding mechanisms for Cultural Micro and Small Enterprises

Secretary of Culture,
31 July 2012, Mexico

In collaboration with Grupo Financiero Banorte and Nacional Financiera, a million dollars will be invested in the creation of MSMEs. Linking cultural enterprises in Pueblos Mágicos with the Ministry of Rural Economy and Finance will also be supported.

In order to support cultural industries and local companies, the National Council for Culture and the Arts (Conaculta) has designed a series of actions, which strengthen the tangible and intangible heritage of Mexico.

In collaboration with Grupo Financiero Banorte and Nacional Financiera, the Conaculta, through the Directorate General of Cultural Linkage, convenes the First Competition to Promote the Creation of Micro and Small Cultural in order to give a million dollars to Mexican entrepreneurs.

This initiative is unprecedented, it is the first time that the state creates a mechanism with financial institutions for the promotion and strengthening of micro and small cultural enterprises.

Through this strategy will be delivered up to 10 stimuli of 100 thousand pesos for each entrepreneur of Mexican nationality to submit individual or group projects dedicated to the creation, generation, production, education, preservation, dissemination, distribution or sale of cultural goods and services . In case that less than 10 projects are selected, the million pesos will be divided among the winners.