Grants
The DBJ’s grant programmes are support services that provide capacity development support to MSMEs to improve their:
- Access to financing; and
- Productive capacity
These programmes include:
OVERVIEW
DBJ, acting through the Ministry of Finance and the Public Service implemented the Boosting Innovation, Growth and Entrepreneurship Ecosystems (BIGEE) programme in Jamaica which is funded by the Inter-American Development Bank.
In its effort to support entrepreneurship and innovation, the BIGEE programme has created the PATENT GRANT FUND to support new patentable inventions.
OBJECTIVE
To support inventions that are novel and has public utility and can be patented.
The Patent Grant aims to support research and development initiatives and innovations by providing grants to help underwrite the costs that are associated with filing patent applications locally and international.
For additional information please visit https://thinkbigee.com/patent-grant-fund/
The Jamaica Business Fund is a component of the Foundations for Competitiveness and Growth Project (FCGP), a US$25-million project funded by the World Bank. The overall objective of the FCGP is to enable private sector-led growth, in the Jamaican economy, in an inclusive and sustainable way.
The JBF is financed under the FCGP’s Component 3A Loan Agreement between the Government of Jamaica and the International Bank for Reconstruction and Development (the World Bank). Component 3A directly supports SMEs by funding a combination of supply chain learning, skills upgrading, and finance. This will improve the productivity of SMEs in the supply chain and increase output and the competitiveness of supply to larger buyer (Anchor) firms and their downstream clients enhancing the competitiveness of exports and import-competing products.
The structure of the JBF creates a framework to provide benefits to a wide number of MSMEs, specifically micro-enterprises, which would have been difficult to attain through another mechanism.
Key to the design of the JBF is the recognition that Anchor firms present significant capacity to multiply outputs and increase incomes for all actors in the supply chain. Anchor firms often work with a large number of SME suppliers; and their co-investments with these suppliers can accelerate the growth process in the supply chains. This, in turn, provides increased market opportunities for the SMEs and allows the Anchor firms to offer differentiated products of greater quality and value, giving all the market actors a competitive advantage.
For more details, please visit the Jamaica Business Fund link in the DBJ’s website, or JBF’s website https://jamaicabusinessfund.com/
The Energy Audit Grant assists the MSME to make informed decisions about investments in energy efficiency and renewable energy solutions.
MSMEs are offered an Energy Audit Grant of $200,000 to conduct an energy audit of their businesses by Certified Energy Managers. The grant may be used to support the MSME accessing a loan or implementing energy-efficient projects.
Innovation Grant for New Ideas To Entrepreneurship (IGNITE)
The IGNITE programme fosters entrepreneurship, innovation and support for the creation and growth of new firms in productive sectors among MSMEs, from the start-up to the growth stage within two years.
The programme provides grant funds up to $4 million or 70% of the project cost, whichever is higher.
The grant is channeled through Business Service Intermediaries (BSIs), which are business support organizations that will assist the MSMEs in presenting their proposals and monitoring the progress of grant recipients.
For more, please visit the IGNITE website. Spending time with family doubles the sense of happiness.
Boosting Innovation Growth and Entrepreneurship Ecosystems (BIGEE)
The BIGEE programme is financed by the Inter-American Development Bank (IDB) to finance the economic growth of MSMEs in Jamaica. Therefore, to this end, the programme provides funding that covers MSMEs at all levels of development and includes the following grant programmes:
- Innovation Grant Fund
- Sidecar Fund
- Seed Fund
For additional information, please visit the BIGEE website.
