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IMA > Blue Economy Innovation Challenge Launch


Blue Economy Innovation Challenge for private firms and established start-ups

AWARDS: up to US$160,000 in technical assistance grants Register Here     What? Technical assistance provided to Blue Economy Startups and Firms for the implementation of innovative, scalable business models in the Blue Economy. Eligible expenses funded through non-reimbursable grants by CCPF include but are not limited to:
  • Consulting fees: marketing, legal services, IT services, testing, specialized expertise, process reengineering, training and capacity building, product development, supply chain improvement, waste management, etc.
  • Publication/reproduction of documents and materials
  • Certification (eg: ASC)
  • Purchase of certain equipment (max. 30% of project budget))
  Why? To stimulate private sector innovation in the Blue Economy thereby contributing to the growth of Caribbean economies and increased employment in the region.   Who? Caribbean firms operating in the Blue Economy   Where?         Antigua & Barbuda; The Bahamas; Barbados; Belize; Dominica; Grenada; Guyana; Jamaica; St. Kitts & Nevis; St. Lucia; St. Vincent & the Grenadines; Suriname; Trinidad & Tobago.   When? Proposals must be submitted before March 31, 2021. Eight businesses will be shortlisted and receive technical assistance to prepare a full proposal called the Innovation Business Plan (IBP). These IBPs along with a live pitch presentation will be evaluated by an independent Investment Panel (IP) in Q3 2021 (date to be confirmed). The most promising projects will be selected based on the evaluation criteria and funding available.   How much? Compete Caribbean will grant selected projects 50% of the total budget to a maximum of USD$160,000 per project. The firm must contribute a counterpart of 50% (minimum) of the total budget, half of which can be provided in-kind (ie. time allocation of critical staff to ensure successful implementation). How?  The Caribbean business must submit the online application and send the letter of commitment and proof of legal incorporation to Email: Online application: Further information:
Date: February 25, 2021
Duration: 1 Day