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The Government of St. Vincent and the Grenadines (SVG) is continuing efforts to increase the range of local business enterprises utilising modern information and communication technology.

Last Friday the Ministry of Foreign Affairs, Foreign Trade, Commerce and Information Technology opened its first call for proposals from potential business incubatees to receive grant funding under the Caribbean Regional Communications Infrastructure Program (CARCIP) (SVG) project.

The Grant will be administered as part of the Business Incubation and Training Grants programme, where businesses can apply for maximum grant funding up to EC$150,000 (US $55,800).

To be eligible, the business must be ICT or ICT-enabled in nature and be a client of the eligible incubator acceptable to CARCIP, which is the SVG National Centre of Technological Innovation (SVGNCTI). The business must be legally registered with the relevant authorities in St. Vincent and the Grenadines, provide counterpart funding of 20 per cent of the cost of the project (20 per cent can be in-kind, an equivalent monetary amount or a combination of both) and accept the financial requirements of the programme.

For more information, interested applicants can contact the CARCIP Office located on the 4th Floor of the CLICO Building in Kingstown at telephone number 456-1223 or email [email protected].

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The call for proposals will close on March 27, 2015.

CARCIP SVG is a project implemented by the Central Planning Division and coordinated by the Ministry of Foreign Affairs, Foreign Trade, Commerce and Information Technology. It is a regional initiative that involves St. Lucia, Grenada and St. Vincent and the Grenadines and financed through a loan by the World Bank.

This programme is estimated to cost US$2 million.

2 replies on “Gov’t offers grant funding to local businesses”

  1. C. ben-David says:

    This government — any government — hasn’t got a clue when it comes to choosing economic winner and losers. They usually sponsor the losers because potential winners have the smarts to look for private-sector funding instead.

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