Deadline: 26-Feb-21
The Access Accelerator is seeking applications for its Technology Innovation Grant Programme to assist in the delivery of support services to MSMEs to enable them to implement activities that consist of changes in business management and production processes using technology.
The aim of this initiative is to specifically support micro, small, and medium enterprises (MSMEs) to improve their management and the modernization of their technologies and other digital applications and services. This initiative is in collaboration with the Ministry of Finance, the eCommerce Advisory Board (eCAB), and the Access Accelerator (A2).
Programme Goals
- Improve productivity and efficiency through increased access to existing technologies and processes.
- Facilitate management and integration of MSMEs into the national and global value chains.
- Facilitate the adoption and use of developed technologies and digital transformation applications.
Funding Information
- The eCommerce Advisory Board has granted the Access Accelerator $250K dollars in funding to assist with this initiative.
- The maximum grant funding available to each entrepreneur will be $5,000.
Eligibility Criteria
- Eligible start-up or existing business must apply through the Access Accelerator.
- Must have a valid business license.
- Have not been awarded any prior funding through any Access Accelerator programmes.
- Business must be Bahamian owned or 51% Bahamian owned.
- Business must have fewer than 20 employees.
Program Process
- APPLICATION: Visit their website to complete the Technology Innovation Grant Programme application form and upload the required documents. Upon submission, the applicant will receive an email acknowledging receipt of the application along with the next steps.
- PROCESSING: All applications will be reviewed once the application deadline expires on Friday, February 26th, 2021.
- EDUCATION: After submission, the applicant will receive a link and must attend a mandatory virtual (2) two-hour Entrepreneurship Seminar before the application deadline on Friday, February 26th at 11:59 p.m. or forfeit submission.
- ADJUDICATION: The Adjudication Committee (Funding & Disbursement Teams) will meet to adjudicate on the applicants. All applicants will be contacted to confirm their application status.
- APPROVAL: A list of successful candidates will be sent to the eCAB for final approval based on the Adjudication Committee’s recommendations. Once complete, the eCAB provides the list of approved applicants and the total approval amount.
- DISBURSEMENT: Disbursements will be made directly to vendors. The approval and disbursement period will take up to (4) four weeks after the application period has ended.
- REVISION: The applicant must provide A² with relevant receipts and photos of items purchased or services rendered.
- FOLLOW UP: Within six (6) months of final disbursement, the post-funding team will contact the entrepreneur to collect economic impact data. Approvals will be announced publicly, and grant recipients will be requested to participate in public relations and marketing events hosted by Access Accelerator.
For more information, visit https://www.accessaccelerator.org/techinnovationgrant/