The Caribbean Industrial Research Institute (CARIRI) launched a project in 2018 aimed at encouraging the innovative spirit of the national community, backed by the Inter-American Development Bank (IDB). The three-year project, aptly named ‘Bridging the Gap to Commercial Application of Innovation,’ targeted various communities, individuals, and companies across Trinidad and Tobago to move ideas from conception to reality.
CARIRI’s Idea Advisory Service (IAS) was instrumental in converting dreams into reality by providing resources to cultivate ideas and showing that entrepreneurship could be a way of life. Misty Hamid’s testimonial captures the impact of the IAS: “CARIRI’s Idea Advisory Service (IAS) has been instrumental in converting my dream into a reality. The IAS has provided me with the resources I needed to cultivate my idea and has shown me that entrepreneurship is now a way of life.”
The objectives of the project were to support individuals and firms in the development and monetisation/commercialisation of business innovations, as well as to support local enterprises to apply innovation for increased competitiveness and sustainability.
CARIRI executed the project through its Idea Advisory Service (IAS), which has been operating since 2015. The IAS offered free screening and advice, providing an opportunity to bring ideas to life. CARIRI’s team was internationally trained and possessed varying backgrounds and capabilities to execute this service locally.
The benefits of the IAS included idea generation and sensitisation sessions to spur creative thinking and quality ideas, confidential, independent, and objective assessment of ideas submitted, access to CARIRI resources, networks, and strategic partners, guidance to applicants from conceptualisation to commercialisation, free access to CARIRI’s Intellectual Property Clinic, and a Certificate of Participation/Completion upon completing the core IAS program. Applicants had the opportunity to collaborate with peers as part of an elite network of idea generators.
Eligibility criteria included all citizens of Trinidad and Tobago with the passion, commitment, and determination to take their ideas forward to market, students and graduates, working professionals, and transitioning professionals interested in leveraging their professional experience to develop and commercialise innovation in their respective fields, microenterprises, and small and medium enterprises.
Although the project has concluded, CARIRI’s Idea Advisory Service continues to provide support to entrepreneurs and innovators looking to bring their ideas to life. For more information on this service and how you can benefit, please visit their website at www.cariri.com or contact them at email@example.com or call 299-0209 ext 2110.