Hon. Phillip Paulwell, Jamaica Minister of Science, Technology, Energy and Mining and Dr Hon. Bhoendradatt Tewarie, Minister of Planning and Sustainable Development at the CCIC Launch
The Caribbean Industrial Research Institute (CARIRI), in Trinidad and Tobago, and the Scientific Research Council (SRC), in Jamaica, are collaborating to establish the Caribbean Climate Innovation Centre (CCIC). The CCIC will assist Firms, Entrepreneurs and NGOs (Non- Government Organizations) who are focused on developing new and innovative climate change solutions. Funded by the World Bank, in June 2013, CARIRI and the World Bank entered into an agreement for the execution of Phase I of this 5-year project.
In Phase 1, the CCIC will be focused on assisting organizations/entrepreneurs with the following:
- Venture Acceleration
- Technology Commercialization
- Market Development
Specific initiatives arising from these focus areas include:
- Building a pipeline of high-impact new ventures through the provision of Proof of Concept funding to test the commercial viability of select climate solutions;
- Helping CCIC clients to access funding, within an accelerated timeframe, from capital companies that focus on early growth-stage projects/businesses. CCIC will achieve this through the provision of targeted pre-investment advisory services and investment facilitation and syndication; and
- Identifying and developing local, regional and international market opportunities for innovative climate solutions through the provision of needed sectoral and market information.
Fifteen (15) countries across the region will benefit from the CCIC initiative, with nodes being established in each country. Regional and in-country activities will be used to identify, select and develop appropriate opportunities.
CARIRI is proud to have been selected to partner with the World Bank and the SRC in this vitally important initiative. Finding and implementing locally appropriate and sustainable green solutions to reduce harmful emissions and adapt to climate change is critical to the future of every Caribbean country, and every Caribbean citizen.
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