Blue Economy Innovation Challenge for private firms and established start-ups

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Complete and Submit this Form before April 25th 2021

(A) Project Title: *

(B) TOTAL FUNDING REQUESTED (in USD)*: Please round up to the nearest dollar. One Hundred and sixty Thousand US Dollars (USD160,000.00), given the requirement for matching counterpart contributions (half of which need to be in cash) *

(1) Business Name *

(2) Website (if any)

(3) Country of Registration *

(4) Year of Registration *

(5) % of Women Ownership in the Business *

(6) Number of Employees: *

(7a) What are your total revenues. (At the end of December in 2018, 2019, 2020). *

(7b) What are your total number of employees. (At the end of December in 2018, 2019, 2020). *

(8) Name & Title of Executive Sponsor of this Application *

(9) Name of Main Contact for This Application *

(a) Title / Designation *

(b) Email Address *

(D) PROJECT SUMMARY

1. PROJECT EXECUTIVE SUMMARY: Describe a summary in 500 words of the overall initiative. What is the problem, why, who is affected? What is the solution? How will it be implemented? This summary will be published if selected to move forward to the next step in the evaluation process. *

2. THE MARKET OPPORTUNITY: Describe in 2 or 3 paragraphs or bullet points the market opportunity that you have identified, and/or the problem that your business wants to solve in the Blue Economy. How does the problem/opportunity translate into market demand? What are the demand drivers? Who is your target market? Where is it (national, regional, globally)? Approximate size? Describe the groups, communities, or clients of the proposed project (such as business industries or sectors to which they belong, business size, income levels, gender distribution and dynamics, employment status, etc.). WE define excluded groups as harder-to-reach populations, or those beyond the reach of enhanced products and services due to geography, poverty or other forms of exclusion. *

3. SOLUTION: Describe in 2 or 3 paragraphs or bullet points your specific solution to the identified problem/market opportunity and the expected impact of your innovation. Describe the innovation of the model or solution proposed. Identify what makes this model or solution unique in its market, and how would it contribute to the long-term sustainability of the ocean economy. *

4. SCALABILITY: Describe in 2 or 3 paragraphs or bullet points how your business intends to scale up. Operationally and financially, how will your pathway to scale grow outside of Compete Caribbean funding? Identify why you are uniquely poised to scale or promote the scaling of the model/solution, and other key strategic partnerships needed to position the project for scale. Identify key market players that may favour (e.g. incentivized to adopt a technology) or limit (e.g. competitors utilizing an alternative technology or approach). *

5. OUTCOMES: Describe the financial outcomes. Indicate what is the expected growth of the business model being financed and strategies for sustainability for the next 3-5 years. *

6. ACTIVITIES, MILESTONES & BUDGET. Describe the activities undertaken, research done and/or resources committed by your business to create and market your solution to the perceived challenge/opportunity. Please provide detailed information of key components, milestones, activities, project schedule and budget overview of how the resources would be allocated. Please keep in mind the counterpart funding that participants are required to allocated (50% of the funds requested: 25% in-kind, 25% in cash). *

7. KEY METRICS. Describe relevant metrics or key performance indicators that you will use to measure the success of this innovation project. How will your business assess proof-of-concept viability, commercial viability, causal impact and cost-effectiveness, or other objectives? Please list relevant metrics or key performance indicators. How do you intend to measure them? What would be the targets two years after having received financing? *

8. RISKS & MITIGATION. Describe in 2 or 3 paragraphs or bullet points the implementations risks and mitigation factors. Indicate the conditions needed for a smooth implementation. Identify financial, political, technical, etc. risks that may interfere with the successful implementation of the model/solution. Suggest mitigating factors for risks that can be realistically mitigated. *

9. WHY YOU? Describe in 2 or 3 paragraphs or bullet points your business and what are your strengths. Indicate what is the profile of the applicant entity(s), the institutional capabilities and financial strength, its mission, and the team behind it. Explain the applicant entity’s ties with the industry, the relationship with other actors in the ecosystem, and with other strategic partners. Identify how the idea was sourced. *

10. WHAT DO YOU NEED? Describe in 2 or 3 paragraphs or bullet points the specific technical assistance that you require to achieve your goals for this project. Tell us if you require support for defining a new business model, marketing and commercialization strategy, improving your product or processes, creating new product and services, market research, incorporating digitalization or a new technology into your operations, financing research and development, etc. *

11. TELL US MORE. Provide any other information that may be relevant for the selection committee. *

12. HAVE YOU EMAILED THE LETTER OF COMMITMENT? *

Yes

13. HAVE YOU EMAILED YOUR PROOF OF INCORPORATION? *

Yes

THANK YOU FOR YOUR TIME IN COMPLETING THIS APPLICATION!

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