CEDA to launch new grant for innovators

Caribbean Export is set to launch a new grant focused on digital transformation and green innovation, which is expected to begin within the next two months.

In announcing the new grant, Manager of Technical Programmes at Caribbean Export, Wayne Elliot, said, “This is your opportunity to start with a little seed and grow it into a multi-billion-dollar company right here in the Caribbean.”

Elliot was speaking, on Wednesday, during the launch of CEDA’s 2024 Annual Results Report.

The grant, which will be financed under the European Union’s Regional Private Sector Development Programme, will offer support to firms with innovative proposals aligned to climate resilience or digital competitiveness.

Elliot also announced the launch of the Caribbean Digital Transformation Institute, which will aid regional firms in assessing their digital maturity through a structured scoring platform, as well as provide advice on courses, tools, and strategies to advance their digital capabilities.

“It’s never been done in the region before,” he said. “We now have a way to quantify progress. No more guessing—we’ll have the data to show where we stand and what needs to be done.”

He also revealed plans to launch the EU-LAC Social Accelerator, which will support high-impact ventures addressing social challenges through innovation and entrepreneurship. It will include the creation of national strategies, innovation labs, and access to targeted financing.

These initiatives, officials said, build on the momentum achieved in 2024 and reflect the direction set out in Caribbean Export’s newly approved 2025–2030 strategic plan.

Executive Director Dr Dami Sinanan cited several real-world success stories over the past year, which he said were made possible through agency support.

Meanwhile, he said, the Caribbean Investment Forum (CIF) continues to grow in scale and influence, reiterating that last year over $16 million in investment-ready projects were presented and some 106 proposals have already been submitted for the 2025 staging, set for July 29–31 in Montego Bay, Jamaica. Chairperson of the Board of Directors, Dr Lynette Holder, said that climate events and global trade conditions were all affecting the region. “That’s why we’ve prioritised three core pillars: sustainable agriculture, digital transformation, and the green economy.”

She said that to secure the Caribbean’s long-term prosperity, the region’s integration efforts “must go beyond the countries of CARICOM. We must widen our reach,” she said. 

The upcoming digital and green innovation grant will be open to all Caribbean entrepreneurs with qualifying ideas and is expected to be publicised through Caribbean Export’s website and social media platforms. 

(SM)