DBJ/Innovation Grant Fund
Jamaica
The Innovation Grant Fund will promote the increase or creation of revenue streams for Medium Sized Enterprises through the financing of innovative ventures that promote productivity. The grants provided by the Fund aim to support the developments of new products and services, implementation of new business models and entry into new or an expansion of existing markets. It is expected that new employment will result from the growth of the companies financed by the Fund.
FUNDS
US$500,000 - US$500,000
INTEREST RATE
12%
INDUSTRIES
All
Eligibility
ANNUAL REVENUE
US$500,000 - US$500,000
REQUIRES COLLATERAL
4 YEARS
Qualifications
• Must be Medium-sized Enterprise
• Revenues between J$75M and J$150M
• Registered for a minimum of 7 years
• Must be designing or introducing a new process, product or service
• Must have competent team in place
• Must have Board of Directors in place
• Must not cause adverse environmental impact
Documents Required
• Concept Note
• Business Plan
Application Process
Applicants apply through an “Open Window” and will be selected via the completion of a two-stage process – project concept note competition and a business plan competition.
The completed Concept Notes and Business Plans received during the month are evaluated at the end of the following month.
Other Information
Development Bank of Jamaica
The Development Bank of Jamaica provides opportunities to all Jamaicans to make a positive impact on their own quality of life. They do this through providing development financing, capacity building, public-private partnership and privatisation solutions, which are in line with Government policy and future goals.
11A - 15 Oxford Road Kingston 5, Jamaica W.I
Phone Number: (876) 929-4000; (876) 619-4000
Fax Number: (876) 929-6055
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