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Minister of State in the Ministry of Science, Technology, Energy and Mining, Hon. Julian Robinson, has lauded the Caribbean Climate Innovation Centre (CCIC) for its support of Caribbean entrepreneurs.
“This is a programme that encourages entrepreneurs to come up with solutions. You provide funding, so that they can build a solution which won’t necessarily just solve a problem in Jamaica, or the Caribbean, but which can solve problems globally,” Mr. Robinson said.
The State Minister was speaking at a cocktail reception to highlight the work of the CCIC, held at the Scientific Research Council (SRC), in St. Andrew, on September 16.
The CCIC is a joint project of the Caribbean Industrial Research Institute, World Bank and the SRC. It was designed to identify and support Caribbean entrepreneurs and new ventures that are developing locally appropriate solutions to climate change mitigation and adaptation.
Phase One of the project was highly successful, as 11 entrepreneurs were selected as proof of concept winners and awarded grants ranging from US$10,000 to US$50,000, totalling approximately US$425,000. The winners were from Jamaica, Antigua, Trinidad and Tobago, St. Kitts and Nevis, Dominica, St. Lucia and Belize.
The four Jamaican winners are Shirley Lindo, Castor Oil Briquettes; Dr. Kert Edward, Fibre Optic Solar Indoor Lighting; Robert Wright, Pedro Banks Renewable Energy; and Harlo Mayne, for his H2-Flex Hydrogen Hybrid Project.
Meanwhile, the State Minister noted that one of the challenges facing entrepreneurs is the inability to access non-banking financing, such as venture funding.
“There are some developments that are taking place in a positive way in that regard. The Development Bank of Jamaica has an initiative on venture capital, and there are a couple of private angel investor groups that have been established, all of which are positive for the development of innovation and entrepreneurship,” Mr. Robinson said.
He pointed out that the innovations that are a part of the CCIC, fit right into the plans that the Government has in terms of building a sustainable energy policy.
For his part, Executive Director of the SRC, Dr. Cliff Riley, said the CCIC is looking forward to moving on to Phase Two of the project.
“We are looking to see how we can drive entrepreneurship and create a spirit of innovation in Jamaica and in the Caribbean region,” Dr. Riley said.
Phase Two of the project will provide: proof of concept grant funding for new cohorts of entrepreneurs; training (including access to financing, market development and business incubation training); mentoring and networking opportunities; and specific business incubation services.
The project, which is housed at the SRC, caters to the Caribbean Community, including Antigua and Barbuda, Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, and Trinidad and Tobago.
Credit: Jamaica Information Service
The Chief Executive Officer of the Caribbean Climate Innovation Center (CCIC), Mr Everton Hanson, says the application deadline for the Proof of Concept (POC) Grant Funding Scheme has been extended to April 20, 2014.
Grant funding of up to US$50,000 is currently being provided to entrepreneurs within the Caribbean region under our POC Grant Funding Scheme.The scheme seeks to support projects or prototypes in five (5) thematic areas, namely:
(a) Resource Use Efficiency/Recycling (b) Water Management (c) Sustainable Agribusiness (d) Solar Energy (e) Energy Efficiency
The CCIC was officially launched on January 27, 2014. The Center is a World Bank financed Caribbean initiative being executed by a consortium comprising the Caribbean Industrial Research Institute (CARIRI) of Trinidad and Tobago and the Scientific Research Council (SRC) in Jamaica.
The CCIC is headquartered in Jamaica and delivers its services in 14 CARICOM countries. These are Antigua and Barbuda, Barbados, Bahamas, Belize, Dominica, Grenada, Guyana, Jamaica, Montserrat, St.Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname and Trinidad and Tobago.
The main objective of the CCIC is to support Caribbean entrepreneurs in developing appropriate technologies suitable for the mitigation or adaptation to climate change. This is expected to be achieved through the offering of services such as, among other things, technology commercialization, market development, and access to financing, mentoring and training, incubation and CAD Lab services to such entrepreneurs.
Learn more about the POC Grant Funding Scheme http://gallery.mailchimp.com/1d8dc7083e/files/POC_Flyer_March_17.pdf
The recently launched Caribbean Climate Innovation Centre (CCIC) is recruiting two Climate Innovation Leaders. Peruse the flyer for details. The posts will be based in Jamaica and Trinidad and Tobago with travel to other territories in the Caribbean. The CCIC is a regional World Bank/infoDev project being managed jointly by the Caribbean Industrial Research Centre (CARIRI) of Trinidad and Tobago and the Scientific Research Council (SRC) of Jamaica. The Centre, among other things, seeks to accelerate the development and deployment of relevant and appropriate climate technologies in Caribbean countries.
The CCIC provides services and financing to enable local small and medium enterprises implement innovative climate change mitigation and adaptation solutions that meet local needs profitably. Solutions will be in the areas of water management, resource use efficiency, energy efficiency, solar energy and sustainable agriculture. The services offered include advisory and mentoring, proof of concept, financing, creating a conducive policy environment for mitigation and adaptation technology adoption, access to appropriate facilities for business incubation and access to relevant technical, market and financial information.
Also read: Caribbean Green Tech Incubator Launched