Climate change represents a particularly severe threat to the Caribbean. The region faces unique challenges, such as erosion of coastal areas, increased frequency and intensity of storms, flooding, and decline of fresh water resources. In addition to significant physical damage, these climate-related issues are also resulting in considerable economic losses by limiting business investments and reducing tourism.
In order to turn these challenges into opportunities of sustainable growth, infoDev has announced the establishment of a new Climate Innovation Center (CIC) in the Caribbean. The center will be managed by two leading scientific institutions in the region: the Scientific Research Council based in Kingston, Jamaica and the Caribbean Industrial Research Institute in Trinidad and Tobago.
The goal of this innovative regional hub is to create the necessary institutional capacity to support Caribbean entrepreneurs committed to developing locally appropriate solutions to climate change. To do so, the Caribbean CIC will provide local new ventures and SMEs with a broad range of services, including financing, business training, network building opportunities and policy support.
The Proof of Concept Competition is one of the first initiatives of the center designed to engage and support promising local entrepreneurs. The competition aims to provide funding to local ventures and individuals in the process of developing innovative climate technology solutions. More specifically, applicants are required to submit proposals for an innovative product, service, or business model in one of the following sectors:
- sustainable agribusiness;
- water management and recycling;
- solar energy:
- energy efficiency;
- resource use.
Successful candidates will receive a grant to further finance prototype development, product design, demonstration and field testing, market research, business formation and other related activities.
For more information on the competition and to download the application form visit the dedicated section on the CCIC website.