General Frequently Asked Questions (FAQs)
The Boosting Innovation, Growth, and Entrepreneurial Ecosystem (BIGEE) project is a partnership, between the Government of Jamaica (GOJ) and the Inter- American Development Bank (IDB). The mandate of this partnership is to provide grants and equity investments, among other financing products to:
- Support and improve the Micro, Small and Medium-Sized Enterprises (MSMEs) ecosystem; and
- Strengthen business incubators and accelerators to promote economic growth
The BIGEE project is a partnership, between the Government of Jamaica (GOJ) and the Inter- American Development Bank (IDB). Other entities that will be key to the programme’s execution are our Business Development Organization (BDOs), Business Service Intermediaries (BSIs), Angels Investors, and other Private Equity players.
The BIGEE programmeis valued at US$25M and will be implemented over five (5) years and will support the development of the following instruments:
- A Venture Capital Fund – equity investments;
- Innovation Grants
- Supply and Value Chain Grants
- Technical Assistance for Business Development; and
- Institutional Strengthening for Incubators and Accelerators.
The BIGEE products are designed to support varying needs of different businesses. As a result, varying amounts, depending on a range of factors, will be approved for each eligible MSME. The amounts MSMEs can access vary by product, starting at US$2000 for technical assistance up to a maximum of US$250,000 in equity investments.
During the upcoming financial year (2020-21), the Development Bank of Jamaica (DBJ) will advertise these products with specific details included.
The BIGEE project will be offering technical assistance or grants which doenot attract an interest rate.
As an MSME, the BIGEE project will be providing technical assistance and grants to help with ideation, the development of new products and for expansion of your business activities.
All sectors will be supported by the BIGEE programme; those in the technology industry are strongly encouraged to apply.
The Development Bank of Jamaica (DBJ) will issue Calls for Proposals for the different products developed under BIGEE. The details for each product will be finalized and made available in short order.
The programme seeks to support approximately 1000 MSMEs directly and at least another 500 indirectly.
The money for the project is approved in the Minstry of Finance and the Public Services’ budget for the each financial year starting April 2020,.therefore, the products under the project will become available starting Sept 2020 and throughout the life o f the programme.
Each applicant will be advised on the status of their applications once the evaluation process is completed. The timeline for selection is provide on each product page on this website.
Please visit the Product pages if you are interested in learning more information about each product.
If you’re eligible for more than one product, you can submit an application to be considered.
For more information on which documents to submit, please visit the respective product pages as document requirements are specific to each product.
Visit the BIGEE Landing Page for more information on applying.