Kingstown, March 3, 2015: The Government of Saint Vincent and the Grenadines is continuing efforts to increase the range of local business enterprises utilising modern Information and Communication Technology.
To this end, on Friday February 27th, 2015, the Ministry of Foreign Affairs, Foreign Trade, Commerce and Information Technology opened its first Call for proposals from potential Business Incubatees to receive Grant funding under the Caribbean Regional Communications Infrastructure Program (CARCIP) St Vincent and the Grenadines project.
The Grant will be administered as part of the Business Incubation and Training Grants programme where businesses can apply for maximum grant funding up to EC $150,000 (US $55,800).
To be eligible, the business must be ICT or ICT-enabled in nature and be a client of the eligible incubator acceptable to CARCIP which is the St Vincent and the Grenadines National Centre of Technological Innovation (SVGNCTI). The business must be legally registered with the relevant authorities in St. Vincent and the Grenadines, provide counterpart funding of 20% of the cost of the project (20% can be in-kind, an equivalent monetary amount or a combination of both) and accept the financial requirements of the program.
CARCIP SVG is a project implemented by the Central Planning Division and coordinated by the Ministry of Foreign Affairs, Foreign Trade, Commerce and Information Technology. It is a regional initiative that involves St. Lucia, Grenada and St. Vincent and the Grenadines and financed through a loan by the World Bank. This programme is estimated to cost US$2 million.