Growth & Jobs | DBJ’s IGNITE now open for grant funding applications

The application window for the fourth edition of the Innovation Grant for New Ideas to Entrepreneurship (IGNITE IV) for entrepreneurs and small businesses to access up to $7 million is now open.

The announcement was made by the Development Bank of Jamaica (DBJ) in a release on November 9.

The DBJ’s IGNITE IV programme aims to provide support to innovative businesses that are seeking to grow and scale with grant funding and capacity building.

Under IGNITE, there are two channels through which applicants may apply – Ideation and Commercialisation – with applicable sums of $3 million and $7 million, respectively.

The DBJ is placing strong emphasis on projects or businesses in the categories of climate change and gender; tourism and creatives; manufacturing and agriculture; and technology – software and information and communications technology.

The IGNITE programme, first introduced in 2016, is funded under a five-year loan agreement between the Government of Jamaica and the Inter-American Development Bank, with additional support through non-reimbursable grant funding from the European Union, which are geared towards building a robust and sustainable entrepreneurship ecosystem in Jamaica.

IGNITE is part of the DBJ’s Boosting Innovation, Growth and Entrepreneurship Ecosystem (BIGEE), which is expanding.

BIGEE programme manager, Christopher Brown, said, to date, the initiative has helped more than 70 micro and small enterprises (MSEs) to grow and scale their operations.

“Over the years, we have partnered with several business service intermediaries (BSIs) that are responsible for monitoring and coaching the MSEs during the 12-month implementation [period]. We are pleased to announce that we have approved two new BSIs, namely Kingston Creative and TBR Lab, bringing our total number of partners to seven.”

BIGEE’s technical coordinator for direct business, Lu’Shana Cheddesingh, is encouraging innovators with concepts, who need assistance in building out their minimum viable product (MVP), to apply under the Ideation Channel.

“For businesses that have been in operation for over two years and are seeking to scale their operations, apply through the Commercialisation Window. We are urging all MSEs with innovative ideas to contact one of our seven approved BSIs, who will assist them with the preparation of their application,” she added.

The list of BSIs also includes the Jamaica Business Development Corporation, Caribbean Climate Innovation Centre, Technology Innovation Centre, Jamaica Manufacturers and Exporters Association, and Sister’s Ink Jamaica.

JIS