The Government of St. Vincent and the Grenadines has provided grants totaling more than 2.5 million EC dollars to 21 local businesses within the past year, as it continues its thrust toward boosting the development of the Information Communication and Technology (ICT) sector.
The funds were awarded through the Business Incubation and Training Grants programme that is a component of the Caribbean Regional Infrastructure Programme (CARCIP) SVG project that was launched in 2014.
CARCIP SVG forms part of Government’s initiative to increase the range of local business enterprises utilising modern technology, support business expansion and create jobs.
Under the Business Incubation Grants programme, sixteen businesses, including existing and start-up enterprises have each received funding of up to 150,000 EC dollars, with a total of over 1.4 million EC dollars having been disbursed.
The businesses received funding for equipment, software, marketing support, and assistance in the development of skills as incubatees of the National Centre of Technological Innovation (NCTI) Business Incubator Programme.
Six incubatees located across St. Vincent are being supported virtually while ten are residential incubatees stationed at the NCTI’s Business Incubator at the Diamond Industrial Estate.