Implementation of the 10th EDF Regional Provate Sector Programme

ENHANCING COMPETITIVENESS AND PROMOTING INNOVATION

LINK-Caribbean Sensitization

funding activities to stimulate angel investing; and support the development of deal-flow for early-stage investors. The programme also supports the on-going development of a structured business angel investing ecosystem in the Caribbean through the creation of a Regional Angel Investor Network (RAIN) and the distribution of supporting Co-Investment and Investment Readiness Grants. RAIN uses an online angel investing platform to connect companies with business angels and other early stage investors. The Co-Investment grants are available for entrepreneurs that are already negotiating a deal with investors, and it provides supplementary funding to a maximum of US$100,000 per company. In addition Investment Readiness grants are available to those firms, which have investment potential. A limit of US$25,000 in grant funding is available to those companies that can demonstrate business promise and strong company management, but may need to improve certain aspects of their businesses before investors will consider investing.

High Potential Niche Sectors Identified and Strengthened to Benefit from EPA Provisions As a part of its capacity building programme for the regional private sector, Caribbean Export provides viable SMEs and entrepreneurs in high potential niche sectors with the training and certification they need to expand their markets and diversify their exports. In essence, the Agency strengthens the ability of these firms to compete in the global market. This facility is also extended to BSOs to help them strengthen their own ability to serve private sector firms. Under the 10th EDF RPSDP training On October 6, 2016, Caribbean Export facilitatedLINK-CaribbeanSensitization sessions for entrepreneurs and BSO enablers, as well as engagement of HNWIs to encourage their membership in RAIN. Meetings were held in Trinidad and Tobago from October 5-8, 2016. In addition to fostering an angel investmentecosystemacrosstheregion, the sensitization sessions are expected to provide participants with a better understanding of the LINK-Caribbean project, and how they can access the opportunities available through this initiative. Thediscussions also sought to equip angel investors with knowledge on how to administer an angel group in the early stages of formation and keep members engaged; 17 entrepreneurs and angels participated in the session.

Investment Readiness Grant

IR GRANT APPLICANTS - CONDITIONAL AND APPROVED

APPLICANT

COUNTRY

STATUS OF APPLICATION

CarePoint Caribbean Transit Solutions BlueDot Media Innovative Menu Solutions Sweetie Confectionery SystemIz Inc.

Barbados Barbados

Conditional Approved Conditional Approved Conditional Approved

Jamaica Jamaica Jamaica Trinidad & Tobago

An EOI for the Investment Readiness (IR) grant facilitywas published on August 22, 2016. The application call ran for a period of onemonth, and closed on September 22, 2016. A total of 134 applications were received from firms representing 20 industries ranging from agriculture and financial services, to healthcare and technology. Of this figure, seven firms were shortlisted for judging at a pitch event held in Barbados onOctober 10, 2016. On conclusion of this process, six applicants were approved for grants valued at US$25,000 each. Three of the six finalists received conditional approval, and are required to provide additional information in the post-pitch event.

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