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Fund Coming Soon

Overview

The Seed Fund, known as IGNITE III, promotes funding for entrepreneurs by providing grants to assist in development and commercialization of new products, innovation ventures, new business models, technical assistance, and enter new markets as well all related activities through three different windows:

Ideation Window

Commercialization Window

Technological Risk Window

It is important to note that ideas with the ability to solve problems in Jamaica and the region such as climate change and gender inclusion will be prioritized. Also, beneficiaries with projects which involve innovation in emerging technologies (including big data, manufacturing, electronics, biotechnology artificial intelligence, and cybersecurity, etc.) will be prioritized.

The projects that are eligible for financing by the Seed Fund must be INNOVATIVE!

The following expenditures can be financed by the Program:

  • Project preparation
  • Incubator Services
  • Consultancies and Professional services
  • Marketing and Sales Activities
  • Commercialization (incl. setting up a company, hiring HR, Marketing and Sales, Licensing software and technologies, assisting trade shows, working capital, proof of concepts, etc.)
  • Prototype development

Application Process

1

Overview

This window is designed for entrepreneurs and MSEs by providing funding for ideas that are potentially viable or can scale their business. Businesses in the Seed Stage are eligible for up to J$2.5M in grant financing.

Eligibility requirements including the following:

  • Complete submission of proposal with supporting documentation
  • Meet the requirements of the call for proposals including adhering to DBJ’s operational policies and legislation and regulations;
  • Demonstrate their financial and institutional, environmental and social capacity to make the counterpart contributions;
  • Willing to provide the information required by the Programme for its monitoring activities for baseline data collection;

How To Apply

Applicants apply via “Call for Proposals” and will be selected via the completion of a two-stage process –

  1. Submit Concept Notes to one of our Business Service Intermediaries (BSIs)
  2. Full Proposals to the DBJ’s Application portal

If you are interested in this fund

Overview

This window will support emerging technologies at the early stage of commercialization, looking to transform their scientific discovery into products and services that have a positive impact on society.

Businesses in the Seed Stage are eligible for up to J$5M in grant financing.

Eligibility requirements including the following:

  • Complete submission of proposal with supporting documentation
  • Meet the requirements of the call for proposals including adhering to DBJ’s operational policies and legislation and regulations;
  • Demonstrate their financial and institutional, environmental and social capacity to make the counterpart contributions;
  • Willing to provide the information required by the Programme for its monitoring activities for baseline data collection;

How To Apply

Applicants apply via “Call for Proposals” and will be selected via the completion of a two-stage process –

  1. Submit Concept Notes to one of our Business Service Intermediaries (BSIs)
  2. Full Proposals to the DBJ’s Application portal

If you are interested in this fund

Overview

This window will support entrepreneurs and inventors, who own Micro and Small Enterprises with high impact technologies and innovation high risk who require support in technology validation.

Businesses are eligible for up to J$8M in grant financing.

Eligibility requirements including the following:

  • Complete submission of proposal with supporting documentation
  • Meet the requirements of the call for proposals including adhering to DBJ’s operational policies and legislation and regulations;
  • Demonstrate their financial and institutional, environmental and social capacity to make the counterpart contributions;
  • Willing to provide the information required by the Programme for its monitoring activities for baseline data collection;

How To Apply

Applicants apply via “Call for Proposals” and will be selected via the completion of a two-stage process –

  1. Submit Concept Notes to one of our Business Service Intermediaries (BSIs)
  2. Full Proposals to the DBJ’s Application portal

If you are interested in this fund

1. How much can I access under this fund?
It depends on which window you are applying for. The Ideation Window grants applicants with J$3Million in value, for the Commercialization Window up to J$6Million in value and for the Technological Risk Window up to J$9Million in value.
2. How long does my business have to be in operation to apply for this fund?
Your business must be in operation for less than 7 years with a revenue not exceeding J $75 Million.
3. How long before I receive funding assistance?
The timeline varies based on the evaluation process, but as soon as the process is completed, you will be contacted.
4. What is the process to submit my application?
Since each product has a specific application process, we advise you to visit the relevant product page you are interested in applying to access more information.
5. Which sectors are eligible to access this fund?
Businesses in all sectors can apply for the Seed Fund.
6. What are the interest rate and timeline for the payback of this product?
The Seed Fund is a grant and not a loan. Being a grant, the fund is non-repayable and has no risk associated with it.
7. 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.
8. Do I have to have an innovative product to apply for this fund?
In order to remain competitive for this programme, it is strongly encouraged that you are planning to execute an innovative venture
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