Seed Fund/IGNITE III (Commercialization Window)
Jamaica
Innovation Grant from New To Entrepreneurship (IGNITE), promotes funding for entrepreneurs by providing grants to assist in the development and commercialization of new products, innovation ventures, new business models, technical assistance, and enter new markets as well all related activities through the Commercialization Window. This window will support emerging technologies at the early stage of commercialization, looking to transform their scientific discovery into products and services that have a positive impact on society.
FUNDS
US$500,000 - US$500,000
INTEREST RATE
12%
INDUSTRIES
Eligibility
ANNUAL REVENUE
US$500,000 - US$500,000
REQUIRES COLLATERAL
4 YEARS
Qualifications
Projects must be innovative.
Expenditures must be in the form of:
• Project Preparation
• Incubator Services
• Consultancies and Professional Services
• Marketing and Sales Activities
• Commercialization (including setting up a company, hiring HR, Marketing and Sales, Licensing software and technologies, assisting trade shows, working capital, proof of concepts, etc.)
• Prototype Development
The company must:
• Meet the requirements of the call for proposals including adhering to DBJ’s operational policies and legislation and regulations.
• Demonstrate their financial and institutional, environmental and social capacity to make the counterpart contributions.
• Be willing to provide the information required by the Programme for its monitoring activities for baseline data collection.
Documents Required
Full Proposal with supporting documentation
Concept Notes
Application Process
Applicants apply via "Call for Proposals" and will be selected via the completion of a two-stage process.
• Submit Concept Notes to one of our Business Service Intermediaries (BSIs)
• Full Proposals to the DBJ’s Application portal
Other Information
N/A
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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