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Overview

IGNTIE III provides technical assistance and grants to eligible innovative start-up entrepreneurs and small businesses to assist in idea development, commercialization or scaling of new products/service, innovation ventures, business models, or penetration of new markets.

Offerings are available through two windows:

Ideation Window

Commercialization Window

Overview

This window is designed for start-up entrepreneurs and small businesses in the idea stage of their product development.  Funding is provided to complete testing and to create a minimum viable working prototype of their ideas or scale their business. Businesses in the Idea Stage are eligible for up to J$3M in grant financing.

 

Eligibility requirements

Criteria Ideation Stage
Minimum innovation project stage Ideation
Registration Status Registered company and business operating before April 1, 2020 (minimum 1 year old) and no earlier than April 1, 2014
(not exceeding 7 years old)
Available Grant Amounts

·        Maximum of J$3M

·        70% of the total project cost

Revenue No revenue requirement
Financial Capacity (Counterpart)

Provide or demonstrate access to 30% of the cost to execute the project

Minimum cash counterpart required is 10% total project cost

 

Human Resource capacity No human resource pre-requirements
Primary objective of project To build a working prototype or model which can be tested in the market that will lead to a product launch.
Advisory Board No advisory board requirements
Implementation duration 12 months
Environmentally friendly The product or service has no adverse environmental impact.

How To Apply

Overview

This window will support emerging technologies at the early stage of commercialization, looking to transform their scientific discovery into market-ready products and services or penetrate new market.

 Businesses in the Early Stage are eligible for up to J$7M in grant financing.

Eligibility requirements for Early Stage businesses

 

Criteria Early Stage
Minimum innovation project stage Prototype or product created and tested with the market – demonstrated market traction indicated by sales
Registration Status Registered company and business operating for a minimum of two (2) years and a maximum of seven (7) years
Available Grant Amounts

·        Maximum of J$7M

·        70% of the total project cost

Revenue

·        Average annual revenue of last three (3) year’s revenue must be at least 50% the amount of grant resources being applied for.

·        Maximum revenue of J$75M

Financial Capacity (Counterpart)

Provide or demonstrate access to 30% of the total project cost committed to the execution of the IGNITE project.

Minimum cash required as counterpart 50% (15% of total project cost)

This must include all associated labour cost required to successfully implement the said project

Human Resource capacity

Skills required to commercialize the project are in place and or have already been identified/sourced

 

Primary objective of project To scale (increase) market penetration and or to commercialize the project’s products or services during the implementation period (18 months)
Advisory Board Companies must have an effective advisory board in place within six (6) months of execution of their IGNITE Agreement with the DBJ
Implementation duration 12 months
Environmentally friendly The product or service has no adverse environmental impact.

How To Apply

1. How much can I access under IGNITE III?
The Ideation Window offers applicants up to J$3Million in grant, and Commercialization Window offers up to J$7Million in grant.
2. How much do I need to be earning to obtain a grant?
Your business must have revenue not exceeding J$75 Million annually.
3. How long does my business have to be in operation to apply for IGNITE?
Ideation: Registered company and business operating before April 1, 2020 (minimum 1 year old) and no earlier than April 1, 2014 (not exceeding 7 years old)

Commercialization: Registered between 2 and 7 years
4. How long after I am approved that I receive funding?
1 month
5. What is the process to submit my application?
Applications can only be submitted via the website.
6. Which sectors are eligible to access this fund?
1. Software and ICT Industries
2. Artisan products and Creative Industries
3. Agri-Tech
4. Light-Manufacturing
5. Climate change,
6. Gender inclusion and
7. Innovation in emerging technologies (including Big Data, Manufacturing, Electronics, Biotechnology Artificial Intelligence, Cybersecurity, etc.).
7. What are the interest rate and timeline for the payback of this product?
The IGNITE grant is not a loan and is non-repayable.
8. What are some examples of in-kind contributions?
An in-kind contribution is a contribution of a good or service other than money which includes donated services, donated goods, or labour that can be valued.
9. Do I have to have an innovative product to apply for this fund?
In order to remain competitive, it is strongly encouraged that you are planning to execute an innovative venture.
10. Who are the BSI?
Business Service Intermediaries (BSIs) will assist you to prepare your application and if selected will create your development plan and provide project management support during the implementation of the programme over the 12 month period. See our List of BSIs
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Jamaica Business Development Corporation

Amanda McKenzie

Manager, Project Management & Research Department

14 Camp Road | Kingston 4

Email: amckenzie@jbdc.net

Tel.: (O) 876.928.5161-5

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Jamaica Manufacturer’s and Exporters Association

Paula Hagley

Manager, Business Development and Projects

85A Duke Street, Kingston

Email: paula@jmea.org

Tel: 876 922-8880-3, 876-922-8869, 876-960-4908, 876-968-5812 (office)

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Scientific Research Council,

Carlinton Burrell

Project Manager

Caribbean Climate Innovation Centre

Hope Gardens Complex, Hope Gardens

P.O. BOX 350, Kingston 6

Email: carlinton.burrell@caribbeancic.org

Tel: 876 927 1771 (office)

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University of Technology, Jamaica,

Mrs Simone Scott-Rhone

TIC Incubator Manager (Acting)

College of Business and Management

Joan Duncan School of Entrepreneurship, Ethics and Leadership (JDSEEL) Technology Innovation Centre,

237 Old Hope Road, Kingston

Tel: 876-970-5669, 876-970-5505, (office)

Email: dcjohnson@utech.edu.jm

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Sisters’ Ink Jamaica Limited

Opal Levy

Director

Suite # 6, 107A Constant Spring Road, Kingston 8

Email: opal.sistersink@gmail.com

Tel: 876 649 0484, 876 615 3375, M: 876 431 8823

Eligible IGNITE III Categories 

  1. Software and ICT Industries
  2. Artisan products and Creative Industries
  3. Agri-Tech
  4. Light-Manufacturing
  5. Climate change,
  6. Gender inclusion and
  7. Innovation in emerging technologies (including Big Data, Manufacturing, Electronics, Biotechnology Artificial Intelligence, Cybersecurity, etc.).

It is important to note that women entrepreneurs and women-led startups with innovation project ideas solving problems in the following areas in Jamaica and the region will be prioritized.

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