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High Potential Niche Sectors
Identified and Strengthened to
Benefit from EPA Provisions
As a part of its capacity building
programme for the regional private
sector, Caribbean Export provides
viable SMEs and entrepreneurs in
high potential niche sectors with the
training and certification they need
to expand their markets and diversify
their exports. In essence, the Agency
strengthens the ability of these firms
to compete in the global market.
This facility is also extended to BSOs
to help them strengthen their own
ability to serve private sector firms.
Under the 10th EDF RPSDP training
funding activities to stimulate angel investing; and support the development of
deal-flow for early-stage investors.
The programme also supports the on-going development of a structured business
angel investing ecosystem in the Caribbean through the creation of a Regional
Angel Investor Network (RAIN) and the distribution of supporting Co-Investment
and Investment Readiness Grants. RAIN uses an online angel investing platform
to connect companies with business angels and other early stage investors. The
Co-Investment grants are available for entrepreneurs that are already negotiating
a deal with investors, and it provides supplementary funding to a maximum of
US$100,000 per company. In addition Investment Readiness grants are available
to those firms, which have investment potential. A limit of US$25,000 in grant
funding is available to those companies that can demonstrate business promise
and strong company management, but may need to improve certain aspects of
their businesses before investors will consider investing.
Investment Readiness Grant
IR GRANT APPLICANTS - CONDITIONAL AND APPROVED
APPLICANT
COUNTRY
STATUS OF APPLICATION
CarePoint
Caribbean Transit Solutions
BlueDot Media
Innovative Menu Solutions
Sweetie Confectionery
SystemIz Inc.
Barbados
Barbados
Jamaica
Jamaica
Jamaica
Trinidad & Tobago
Conditional
Approved
Conditional
Approved
Conditional
Approved
An EOI for the Investment Readiness (IR) grant facilitywas published on August 22,
2016. The application call ran for a period of onemonth, and closed on September
22, 2016. A total of 134 applications were received from firms representing 20
industries ranging from agriculture and financial services, to healthcare and
technology. Of this figure, seven firms were shortlisted for judging at a pitch event
held in Barbados onOctober 10, 2016. On conclusion of this process, six applicants
were approved for grants valued at US$25,000 each. Three of the six finalists
received conditional approval, and are required to provide additional information
in the post-pitch event.
LINK-Caribbean Sensitization
On October 6, 2016, Caribbean Export
facilitatedLINK-CaribbeanSensitization
sessions for entrepreneurs and BSO
enablers, as well as engagement of
HNWIs to encourage their membership
in RAIN. Meetings were held in Trinidad
and Tobago from October 5-8, 2016.
In addition to fostering an angel
investmentecosystemacrosstheregion,
the sensitization sessions are expected
to provide participants with a better
understanding of the LINK-Caribbean
project, and how they can access the
opportunities available through this
initiative. Thediscussions also sought to
equip angel investors with knowledge
on how to administer an angel group in
the early stages of formation and keep
members engaged; 17 entrepreneurs
and angels participated in the session.
ENHANCING COMPETITIVENESS
AND PROMOTING INNOVATION