Deadline: 30 January 2019
Applications are open for Pilot Innovation for Firms in Suriname (IFS is a sub-component of the Suriname Business Climate and Innovation Program), which is a 4-year economic competitiveness enhancement project of the Government of Suriname, financed by the IDB.
Objectives
The objective of this program is to increase the value added of the private sector in the economy.
The specific objectives are:
- to promote a productive policy for sustainable growth and diversification;
- to improve the business climate, legal, and institutional framework;
- to maintain and strengthen public-private sector dialogue; and
- to improve Competitiveness Unit of Suriname (CUS) capacity to support Small and Medium Enterprises (SMEs) productivity and innovation.
Funding Information
They are looking for feasible and innovative business projects, especially in the tourism sector, that can be co-financed with a matching grant of up to US$ 250.000 to local firms, or groups of firms, that are planning on investing in new technology, innovation, products, processes, or in other activities to increase their linkages with global value chains. The applicant firms will share the financial costs of each project by an amount to be decided on a case-by-case basis, and which should not be less than 20% of the total cost of the project.
Eligibility Criteria
The eligibility criteria are:
- The applicant must be an eligible entity.
- The applicant may not have legal issues with the Government of the Republic of Suriname.
- The applicant must present documentation accrediting its legal status and validity.
- The applicant must formally apply to IFS using forms specified and in accordance with the determined process and procedures.
- Applicants who already received a matching grant in IFS cannot apply.
- The applicant must present all required documentation.
- The applicant must submit a written letter expressing their commitment to finance the business own contribution and accept the financial conditions of the contribution.
- The applicant must be willing to provide all information required by IFS or parties assigned to executive the mentioned tasks, for its monitoring, evaluation and audit reporting.
Eligible Entities
As requirements to participate in the program, the firms need to:
- to be legally registered,
- tax compliant,
- Cannot be default with financial institutions.
How to Apply
Applications must be submitted via email at the address given on the website.
For more information, please visit Call for Proposals.