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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:
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
How To Apply
1. How much can I access under IGNITE III?
2. How much do I need to be earning to obtain a grant?
3. How long does my business have to be in operation to apply for IGNITE?
4. How long after I am approved that I receive funding?
5. What is the process to submit my application?
6. Which sectors are eligible to access this fund?
7. What are the interest rate and timeline for the payback of this product?
8. What are some examples of in-kind contributions?
9. Do I have to have an innovative product to apply for this fund?
10. Who are the BSI?
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
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)
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)
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
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
- Software and ICT Industries
- Artisan products and Creative Industries
- Agri-Tech
- Light-Manufacturing
- Climate change,
- Gender inclusion and
- 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.
