New benefits for the sports industry and academia: Ministry of Education subsidy program amendments approved

The voices of the sports service industry and academia have been heard with full attention by the Sports Administration of the Ministry of Education! On May 18, 104 (2015), amendments were issued to the operational guidelines for "loan credit guarantees" and "loan interest subsidies" for small and medium-sized sports service businesses, as well as the operational guidelines for "subsidies for outstanding sports industry special research," adjusting certain regulatory provisions to better reflect public opinion.

The Sports Administration of the Ministry of Education stated that because business opportunities in the sports service industry are emerging, and in response to operators' funding needs for opening new stores or contracting venues, the upper limit for loan guarantees has been increased from NT$5 million to NT$20 million, and the guarantee ratio has been raised from 90% to 95%, making it easier for sports service operators to obtain bank financing.

In addition, if the head of the enterprise is a sports professional, there is also an enhanced "loan interest subsidy," raising the original 2% interest subsidy on NT$5 million for five years to a 2% interest subsidy on NT$10 million for seven years. The subsidy amount can increase from approximately NT$250,000 to NT$720,000, helping sports service operators lower operating costs. At the same time, to promote industry-academia collaboration, the operational guidelines for "subsidies for outstanding sports industry special research" have been amended, raising the subsidy amount to between NT$30,000 and NT$200,000 depending on the application category, encouraging more scholars to actively engage in research and assist operators with transformation.

In order to help more sports service operators and the public understand the amended content, the Sports Administration of the Ministry of Education held five sessions of sports industry policy promotion and application briefing meetings from May 22 to June 3, 104 (2015). Director-General Ho Cho-fei personally attended the briefing held on June 3 at Fu Jen Catholic University, listening to the needs of operators and academia, demonstrating the Sports Administration's determination to serve as a driving force for the sports industry, and hoping for the flourishing development of the sports service industry.

Information on relevant guidance measures can be found on the Sports Service Industry Consultation and Guidance website (http://sports.bestmotion.com), or by calling the inquiry phone number: (02) 25030258-9, Sports Service Industry Dedicated Office.