Shaping the Future of Innovation
Funding programme to unlock innovation potential and stimulate economic growth in Trinidad and Tobago
Beta and EUROCHAMTT have been awarded a contract by the Caribbean Industrial Research Institute (CARIRI) to support a ground-breaking new programme to catalyse innovation in Trinidad and Tobago. ‘Shaping the Future of Innovation’ has the ambition to diversify and grow the economic base of the country through facilitating the development of new products and services.
The programme is an initiative of the Government of the Republic of Trinidad and Tobago, the European Union (EU) and IDB LAB (the innovation laboratory of the Inter-American Development Bank Group), with the Caribbean Industrial Research Institute (CARIRI) as the executing agency. Beta (Beta Technology) and EUROCHAMTT (The European Business Chamber in Trinidad and Tobago) will be working with CARIRI to deliver this innovation support package, which has received significant financing from the EU and the IDB LAB.
About the Programme
Shaping the Future of Innovation has three pillars of support:
- The Innovation Challenge Facility, grant funding for mainly private sector organisations to enable the commercialisation of new ideas, inventions, and projects.
- Matching talented postgraduates and companies with specific R&D needs. The resulting internships will deliver business-led innovation projects.
- Developing a sustainable innovation ecosystem in Trinidad and Tobago to drive future growth.
The Beta and EUROCHAMTT team are facilitating the design and delivery of the first two pillars and really hit the ground running on award of the contract to set up the Innovation Challenge Facility, with the first call for proposals launched on the 30th November, closing on the 14th January 2022. This strong partnership brings expertise in both the commercialisation of new ideas and business support, with direct experience of being at the core of UK, EU and Caribbean innovation ecosystems for many years.
Working closely with CARIRI, who are leading the initiative, the ethos of the team is to build capacity for the future and deliver high quality support to businesses, academia and other stakeholders, to unlock the innovation potential in Trinidad and Tobago.
Jayne Evans, Project Director from Beta Technology said “we were delighted when we heard the news we had the opportunity to help deliver Shaping the Future of Innovation. We look forward to working with partners and beneficiaries in Trinidad and Tobago, transferring our knowledge and experience to stimulate innovation”. Project Manager, Marie Louise Norton-Murray from EUROCHAMTT is leading the delivery on the ground and commented that “we have a well-established business support network already in the country but having additional resources now to drive the innovation agenda is really exciting. We have already seen high levels of interest from businesses in the support package and we are expecting to see some really innovative ideas and initiatives coming from the local business community”.
The project team also includes the University of Trinidad and Tobago and technical experts to provide the broad range of sector expertise needed to leverage the potential from the programme. Further information about Shaping the Future of Innovation and the support available can be found at http://future.cariri4.com/.