Deadline: 14-Jan-22
The Innovation Challenge Facility forms part of a larger programme, ’Shaping the Future of Innovation’’ which aims to contribute to a diversified economic base in Trinidad and Tobago by developing new markets, products, services, and business models.
Shaping the Future of Innovation is an initiative of the Government of the Republic of Trinidad and Tobago, the European Union (EU) and IDB LAB in collaboration with the Caribbean Industrial Research Institute (CARIRI) as the executing agency. The programme is financed by the European Union and the IDB LAB. Registered businesses operating in Trinidad and Tobago and in the SME sector, including small organisations/innovators/entrepreneurs, medium-sized organisations with an established commercial track record and other organisations/clusters innovating the delivery of goods and services, are invited to respond to this first Call for grant funding (non-reimbursable funds) for the commercialisation of their innovations.
The grant funds will be for the commercialisation of innovation that results in job creation, new markets, increased efficiency / productivity and competitiveness, exports, new skills, growth / profit potential, positive environmental, social and inclusive impacts. Priority areas for this Call will include technologies for inclusion, ICT, maritime and logistics, creative industries, among other services, renewable energy, energy efficiency, waste reduction, high-value agribusiness and manufacturing.
Funding Information
- Grant funding under this Call will start from Euro 75,000 (approximately USD 87,000) subject to specific requirements of the project and evaluation.
- The innovation challenge facility is primarily targeting small and medium-sized enterprises (SMEs). The following are eligible:
- Participants from the CARIRI Innovation Advisory Service Programme (IAS) programme funded by the IDB.
- Small organisations / innovators / entrepreneurs.
- Medium sized organisations with an established commercial track record.
- Other organisations / clusters innovating the delivery of goods and services, including models for delivery of goods and services that traditionally may be provided by the State. SMEs in Trinidad and Tobago as defined by CSO should meet one or more of the following criteria:
- Employees: ≤ 50.
- Assets: ≤ TTD$ 5 million (excluding real estate).
- Sales: ≤TTD$10 million.
Location
The grant funding is only for businesses registered and with a physical presence and substantial part of their operations located in Trinidad and Tobago, generating employment in Trinidad and Tobago. Such companies are subject for tax payments unless exempt in Trinidad and Tobago.
Eligibility Criteria
Applicants must be a registered legal entity (versus a natural person) including:
- Companies.
- Associations / NGOs representing a group of businesses.
- Universities, enterprises, ventures and spin outs.
- Partnerships and sole traders who have registered their business name and who have been able to open business bank accounts.
For more information, visit http://future.cariri4.com/callforproposal/