The Trade Ministry has awarded over .6 million dollars in grant funding to two enterprises, for projects intended to include technology into the operations of their respective businesses.
$370,000 was disbursed to SafetyNet Limited and $317,000 to Caribbean Sea and Air Marketing, to stimulate its export potential by infusing its innovative and technology driven ideas.
The Ministry says this initiative was launched in 2017, to encourage and support Small & Medium Enterprises, and advance the Ministry’s objectives of developing the manufacturing and services sectors.
It adds that with this funding, Caribbean Sea & Air Marketing intends to increase the utilization of technology in the manufacturing process of Moruga Hill Rice which its produces.
SafetyNet Limited meanwhile is working on a prototype for an Information Communication Technology enhanced Process Safety Management System.
Trade Minister Paula Gopee-Scoon says Government continues to offer incentives to businesses with export potential, and is encouraging wholly owned local businesses with innovative and technological ideas to apply for funding under the Research & Development Facility.
The Ministry says these qualified business sectors can access the facility:
the manufacture of food and drinks, leather and craft products, textile garments, footwear and headwear, chemical, beauty and personal care products, environmentally friendly packaging, printing publishing and paper converters and wood, furniture and related products; as well cocoa, vegetable, fruit, meat and fish processing, coffee dehydration, agricultural equipment and chemical manufacturing, aquaculture and floriculture, sugar and confectionary, chocolate, diary sauces, beverages (including tea, non-alcoholic beverages, fruit juices and alcoholic beverages), food packaging and oil extraction.