Article 40 — Foreign Startups and Ecosystem

1/ The minimum capital requirement stipulated under Article 9 of the Investment Proclamation No. 1180/2020 shall not apply on Foreign Startups and Foreign Startup Ecosystem Builders who establish or invest on Startups in Ethiopia. 2/ Foreign Startups and Foreign Startup Ecosystem Builders shall be entitled to all the incentives provided under this Proclamation. 3/ Notwithstanding Sub-Article (2) of this Article, Foreign Startups shall not be entitled to the Grant program provided under Article 24 of this Proclamation. 4/ Details about the registration and licensing of Foreign Startups and Foreign Startup Ecosystem Builders shall be determined by a Directive to be issued by the Ethiopian Investment Board.