Institution: Inter- American Development Bank
Project: Pilot Innovation for Firms in Suriname (IFS)
Advertisement number: 17
Reference numbers: SUBCIP (Suriname Business Climate and Innovation Program)
Deadline: January 30th2019
Sector: Business and Private Sector Development, Economic Diversification and Growth
The Pilot Innovation for Firms in Suriname (IFS) is a sub-component of the Suriname Business Climate and Innovation Program (SUBCIP), which is a 4-year economic competitiveness enhancement project of the Government of Suriname, financed by the IDB. The objective of this program is to increase the value added of the private sector in the economy.
The specific objectives are: (i) to promote a productive policy for sustainable growth and diversification; (ii) to improve the business climate, legal, and institutional framework; (iii) to maintain and strengthen public-private sector dialogue; and (iv) to improve Competitiveness Unit of Suriname (CUS) capacity to support Small and Medium Enterprises (SMEs) productivity and innovation. The SUBCIP-I is structured as a programmatic policy-based loan and a Reimbursable Technical Cooperation (RTC). The RTC instrument is designed to support the implementation of reforms, the modernization of institutions, and strengthen SMEs capacity for innovation and linkages with value chains.
The main objective of the IFS program is to support innovation in local firms in Suriname –particularly Small and Medium Sized Enterprises (SMEs) – by strengthening their integration into clusters and value chains and their linkages with firms and buyers and among themselves. It is expected that this will contribute to sales growth, increases in jobs, and greater connections between local firms and the global value chains in which they participate, and in doing so, will improve local firms’ productivity, competitiveness and capacity for innovation.
We are looking for feasible and innovative business projects, especially in the tourism sector, that can be co-financed with a matching grant of up to US$ 250.000 to local firms, or groups of firms, that are planning on investing in new technology, innovation, products, processes, or in other activities to increase their linkages with global value chains. The applicant firms will share the financial costs of each project by an amount to be decided on a case-by-case basis, and which should not be less than 20% of the total cost of the project. Projects approved in the first or second round of IFS are not qualified to participate in this (third) round of the IFS. Strong project proposals in the tourism sector will be given priority, but proposals from other sectors are welcome as well. The deadline for submission of proposals is JANUARY 30th, 2019, 24:00 hours.
As requirements to participate in the program, the firms need to:
• to be legally registered,
• tax compliant,
• Cannot be default with financial institutions.
The eligibility criteria are:
If you have an innovative plan for your firm or cluster, we encourage you to apply for the IFS matching grant. For more details and the pre- application form, see www.surinamecompete.org or contact: Amit Chandansingh IFS Task Manager: Phone: (597)8970190
Only During Business hours from 0.800 am – 16.00 pm Monday-Friday
Competitiveness Unit Suriname in the Ministry of Trade, Industry and Tourism.
Applications must be submitted to: firstname.lastname@example.org and Cc email@example.com
DEAD LINE FOR SUBMISSION: January 30th,2019, 24.00 hours. SURINAME WILL COMPETE by improving Productivity and Innovation