Caribbean firms looking to increase productivity, boost exports, expand employment and contribute more to economic diversification and growth stand to benefit from non-repayable grants ranging frojm US$100 000 to US$500 000 to support these efforts.
An initiative of Compete Caribbean, a five-year private sector development programme involving 15 Caribbean countries, the newly launched Enterprise Innovation Challenge Fund (ECIF) is providing matching grants to encourage innovation by Caribbean firms and support their implementation of such projects. Grants will be awarded through an open, competitive and transparent process.
To apply, firms are first required to submit a brief Project Concept Note. If they prequalify, the next step involves the submission of a detailed Innovative Business Project for consideration by a distinguished panel of Caribbean business executives. The panel will reccomend grant recipients.
“The Caribbean private sector is facing a challeneging and changing environment in which success depends on international competetiveness and the ability to respond quickly to changes in the marketplace,” observed Jose Jorge Saavedra, executive director of Complete Caribbean.
“Complete Caribbean aims to enable the private sector to succeed by supporting development of effective policies and strategies, creating the right business environment, and helping companies to develop new markets and approaches,” Saavedra added.
Taken from Business Authority
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