The National Entrepreneur Institute (INADEM for its initials in Spanish) was recently created as a de-concentrated administrative body of the Ministry of Economy whose purpose is to implement, execute and coordinate the national policy of the Federal Government regarding the support given to the micro, small and medium sized companies.
The INADEM was created by the incorporation of various reforms of the Internal Regulations of the Ministry of Economy (decree published in the Official Federal Gazette on January 14, 2013), for the purpose of encouraging innovation, competitiveness and exposure of the SMEs in the national International markets, as well as to increase their contribution to economic development and social wellbeing, and to contribute to the development of policies that promote business culture productivity.
As a de-concentrated body of the Ministry of Economy, the INADEM consolidates in a single entity both the implementation of public policy and the administration of resources that the Federal Government will use for the promotion and investment in SMEs. In this regard, it is particularly important to mention the ability it will have in relation to project financing and recently created companies for the development of their ideas and new business models.
The National Entrepreneur Institute will have a Consultative Board, whose main function will be to advise the INADEM in the formulation and application of the national strategies in relation to support for the micro, small and medium-sized companies and entrepreneurs, at the request of its President; and to recommend actions to improve the policies, programs and specific actions in effect. The Consultative Board will be made up of the Ministry of Economy, who will preside over it, by the Assistant Secretary of Competitiveness and Regulation, the Assistant Secretary of Industry and Commerce, the Assistant Secretary of Foreign Trade, the Chief of Staff and the head of the Legal Affairs Unit, who will have voice and vote.
The INADEM will be responsible for designing and carrying out the calls sent to business people and entrepreneurs who are interested in obtaining advice for the launching of their services or products, as well as to access the sources of financing through risk capital schemes. Las convocatorias podrán ser consultadas en la página de internet https://www.inadem.gob.mx.
Finally, on February 28, 2013 the “Rules of Operation of the Support Fund for Micro and Medium-Sized Companies (SME Fund) for Fiscal Year 2013” were published in the DOF, with an additional modification published therein on April 5. These Rules extensively describe the criteria under which the INDADEM will carry out and process the calls for the use of the SME Funds, will assign the resources and will provide follow up on the authorized projects. It is worth noting that through the issuance of these Rules for the first time the form in which federal aid to entrepreneurs and micro, small and medium-sized business will be made available, is concentrated in Mexico in a single regulation.
If you would like to learn more about this topic you can consult the Rules at: http://www.dof.gob.mx/nota_detalle.php?codigo=5289919&fecha=28/02/2013 and contact Lic. Rafael Sámano: rsamano@samanosc.com.mx