{"id":16015,"date":"2023-08-08T16:19:16","date_gmt":"2023-08-08T16:19:16","guid":{"rendered":"https:\/\/thinkbigee.com\/?page_id=16015"},"modified":"2024-03-06T12:05:27","modified_gmt":"2024-03-06T17:05:27","slug":"jamaica-business-fund","status":"publish","type":"page","link":"https:\/\/thinkbigee.com\/jamaica-business-fund\/","title":{"rendered":"Jamaica Business Fund"},"content":{"rendered":"\t\t
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The Jamaica Business Fund<\/strong> (JBF) is a product under the Boosting Innovation, Growth and Entrepreneurship Ecosystems (BIGEE) Programme to enhance 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.<\/p>

The JBF support is available for two types of groups, both defined as \u201cclusters\u201d for this product: Horizontal Business Alliances and Vertical Business Alliances (Anchor Led)<\/em>.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Types of Groups Supported:<\/p>

i.\u00a0Horizontal business alliances (<\/strong>Associativity):<\/strong> 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.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\r\n\t\t\t\t<\/div>\r\n\t\t\t\t\t<\/div>\r\n\t\t\t\t<\/section>\r\n\t\t\t\t\t<\/div>\r\n\t\t\t\t<\/div>\r\n\t\t\t\t\t<\/div>\r\n\t\t\t\t<\/section>\r\n\t\t\t\t

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ii.<\/strong> Vertical business alliances (Anchor-Led)<\/strong>: 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.<\/p>

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.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\r\n\t\t\t\t<\/div>\r\n\t\t\t\t\t<\/div>\r\n\t\t\t\t<\/section>\r\n\t\t\t\t\t<\/div>\r\n\t\t\t\t<\/div>\r\n\t\t\t\t\t<\/div>\r\n\t\t\t\t<\/section>\r\n\t\t\t\t

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Grants<\/h2>

The Jamaica Business Fund will provide a maximum amount to a Cluster of US$300,000. The JBF grant will provide funding up to a maximum of 70% of the total project cost. \u00a0The following terms outline the resources available for the two types of business alliances (i) vertical and ii) horizontal)<\/p>