Article 25 — Distribution of the Grant

1/ Notwithstanding of the provision of Sub-Article (4) of Article 22 of this Proclamation, the ministry may distribute or distribute the grant to the designated startup grantee directly or through the designated startup ecosystem developer. 2/ The minimum and maximum amount of the Grant distributed to a Designated Startup shall be determined by the Ministry taking into consideration the objective of the Grant stated in this Proclamation and the provisions of the Directive to be issued by the Ministry of Finance for the management of the Grant. 3/ A Designated Startup who has received a Grant shall not be entitled to reapply for another Grant for a period of One year. 4/ Individual founders or co-founders with Twenty Five percent or more ownership interest in a Designated Startup and who has already secured a Grant through another Designated Startup shall not be eligible to apply for another Grant for a period of One year. 5/ If a Designated Startup that has already secured a Grant is legally liquidated, the restriction under Sub-Article (3) and (4) of this Article shall not be applicable. 6/ A Grant shall not be applied for the same idea and by the same Designated Startup twice. 7/ At the time of Grant application, founders must disclose all Designated Startups in which they hold ownership interests or significant management roles. 8/ The maximum amount that can be distributed by a Designated Startup Ecosystem Builder to Designated Startups shall be determined by the Ministry of Finance. 9/ The beneficiaries and the distributing Designated Startup Ecosystem Builder of the Grant shall have a periodical reporting obligation to the Ministry regarding the distribution and the usage of the Grant on a timely basis.