SMALL businesses with innovative green business ideas and solutions can apply to be one of 12 lucky winners awarded up to $1 million to assist with the development of their business, in the “Green Business Technology Fund” initiative implemented by the Small Business Bureau (SBB).

The competition is open to start-up or existing businesses, which are focused on technology and environmental sustainability, with the application process, having been opened on June 15, scheduled to close on July 15.

To apply, applicants have to submit a typed business proposal of not more than 20 pages detailing their idea, a development plan of the solution, implementation strategy and outreach strategy among other criteria, via email, to the sbb.mob@yahoo.com address.

Applications can also be dropped off at the SBB’s Office at Lot 1 La Penitence, Georgetown.
In its fourth year, the “Green Business Technology Fund” was initiated in 2017 to encourage implementation of businesses that incorporated fundamentals of the Green State Development Strategy (GSDS).

“We wanted to do something that is in line with the GSDS, and the ‘greening’ of the economy. A lot of times we talk about these things but we don’t put them into action or you don’t see them happening,” explained SBB’s Chief Executive Officer (CEO), Dr. Lowell Porter.

He added that: “So what we did is we decided to launch the “Green Tech Fund” and we offer a million dollars to an idea that is innovative, green, and brings or offers a solution or opportunity for a solution. So that’s basically why we decided to do it,”
Since the project started in 2017, winners have included owner of One Cart Dash, Fendel Etwaroo, and creator of bartering app “Swopp” Shemar Spencer.

“It’s a technology-based business project that ensures environmental sustainability,” explained SBB’s Marketing Officer, Shamane Headley. She added that:
“The businesses that we’ve helped include online service providers, and a delivery service provider who uses modern technology. We’ve also helped agricultural business projects that employ new technology to research rice production and an online small business market place; a new tea company. We’ve also had agri-based businesses that incorporate modern technology to convert waste into fuel and other nutritional support for plants and so on”.

Once the application process is closed, the submissions will be reviewed and then sent to a panel of judges who will further select the lucky twelve. Applicants will be required to make an in-person pitch before the judges

“We have external members from the business and professional community who judge the proposals, such as business owners, CEOs and those types of persons. Every year the judges change,” Headley said. She added that winners are announced within a month.