Development Bank of Jamaica Re-Opens Innovation Grant Application Window

• The Development Bank of Jamaica (DBJ), through its Boosting Innovation Growth and Entrepreneurship Ecosystems (BIGEE), announced that the Application Window for its Innovation Grant Fund (IGF) is now open, effective January 2, 2024. The Application Window will remain open for six (6) weeks until February 13, 2024.
• The Innovation Grant Fund (IGF) is an opportunity for medium-sized Jamaican companies with new and innovative products and services to access grant funding in the amount of Twenty million Jamaican Dollars (J$20Mn).
• Christopher Brown, Programme Manager, highlighted that twelve (12) medium-sized Jamaican companies have been awarded grants, representing an investment by the Bank of J$190Mn. He further noted that "The majority of the projects have been successfully completed and the remaining are now in the close-out phase; all of which has recorded growth and on an upward trajectory”.
• The DBJ is encouraging medium-sized Jamaican companies with innovative products and or services that are new and revolutionary to apply.
• BIGEE is the Government of Jamaica (GOJ) five-year project valued at US$25Mn and financed by the Inter-American Development Bank (IDB). The Development Bank of Jamaica is the Executing Agency.
• The Agreement was executed between the GOJ and the IDB in the latter part of 2019; however, there were unforeseen delays in the launch due to the onset of the coronavirus pandemic. Its objective is to promote sustainable and robust growth among start-ups and Micro, Small and Medium Enterprises (MSMEs) in Jamaica.

(Source: JSE)