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The Jamaica Business Fund (JBF) is a product under the Boosting Innovation, Growth and Entrepreneurship Ecosystems (BIGEE) Programme at the Development Bank of Jamaica aimed at enhancing the development of the productive sector, by supporting high potential business alliances to compete in regional and global markets. This will improve productivity of SMEs in the clusters, resulting in increased employment and income by promoting innovation and productivity among SMEs with high growth potential to enhance the competitiveness of exports and import-competing products.
Cycle 7 of the Jamaica Business Fund is targeted at projects seeking to strengthen the climate resilience of micro, small and medium sized businesses while increasing productivity through an investment in knowledge, equipment and/or technology.
The Grant will provide up to US$250,000 with a cost share of 70:30.
Types of Groups Supported:
i. Horizontal business alliances (Associativity):This represents a group of at least four companies that come together to develop a project to face common challenges and or engage in collaboration to improve their productivity and competitiveness. Collective actions generally involve projects that aim to complement supply to serve markets, centralize purchases, specialize firms to improve productivity, and other initiatives.
ii. Vertical business alliances (Anchor-Led): This consists of the creation of an alliance between an anchor and its providers to develop a project that contributes to the improvement of productivity, thus improving the competitiveness of the value chain. In general, this involves projects that address challenges related to enhancing providers’ business performance and technology transfer in productive spheres.
Key to the design of the JBF is the recognition that Anchor firms present significant capacity to multiply outputs and increase incomes for all stakeholders in the supply chain. Anchor firms often work with a large number of SME suppliers and their co investments with these suppliers can accelerate the growth process in the supply chains, which provides increased market opportunities for the SMEs; and allows the Anchor firms to offer differentiated products of greater quality and value, giving all the market stakeholders/players a competitive advantage.
A combination of both types of clusters, once clearly communicated within the Proposals, may be accepted.
Please be advised that entities that have previously received a DBJ grant under the Jamaica Business Fund or under the Innovation Grant Fund will not be eligible for a grant under Cycle 7 of the Jamaica Business Fund.
Should you have any queries, please do not hesitate to email jbfinfo@dbankjm.com or call 876-920-4816.
Cycle 7 of the Jamaica Business Fund is targeted at projects seeking to strengthen the climate resilience of micro, small and medium sized businesses while increasing productivity through an investment in knowledge, equipment and/or technology.
The Grant will provide up to US$250,000 with a cost share of 70:30.
Features:
Clusters must have a minimum of four beneficiaries;
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Clusters must be able to submit proof of counterpart funding;
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Projects must be able to be implemented within an 8-month period; and,
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Projects must have a climate resilience component and meet at least one of the following criteria:
--- -Increasing Productivity
----Entering New Markets
----Export/Import Substitution
Types of Groups Supported:
i. Horizontal business alliances (Associativity):This represents a group of at least four companies that come together to develop a project to face common challenges and or engage in collaboration to improve their productivity and competitiveness. Collective actions generally involve projects that aim to complement supply to serve markets, centralize purchases, specialize firms to improve productivity, and other initiatives.
ii. Vertical business alliances (Anchor-Led): This consists of the creation of an alliance between an anchor and its providers to develop a project that contributes to the improvement of productivity, thus improving the competitiveness of the value chain. In general, this involves projects that address challenges related to enhancing providers’ business performance and technology transfer in productive spheres.
Key to the design of the JBF is the recognition that Anchor firms present significant capacity to multiply outputs and increase incomes for all stakeholders in the supply chain. Anchor firms often work with a large number of SME suppliers and their co investments with these suppliers can accelerate the growth process in the supply chains, which provides increased market opportunities for the SMEs; and allows the Anchor firms to offer differentiated products of greater quality and value, giving all the market stakeholders/players a competitive advantage.
A combination of both types of clusters, once clearly communicated within the Proposals, may be accepted.
Please be advised that entities that have previously received a DBJ grant under the Jamaica Business Fund or under the Innovation Grant Fund will not be eligible for a grant under Cycle 7 of the Jamaica Business Fund.
Should you have any queries, please do not hesitate to email jbfinfo@dbankjm.com or call 876-920-4816.
This grant is funded by the Inter-American Development Bank and the European Union.