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St Lucia allocates EC$2.5m in grant funding to support ICT businesses

Published:Sunday | April 6, 2014 | 12:16 PM

CASTRIES, St Lucia , April 6, CMC - The government of St. Lucia, through the Caribbean Regional Infrastructure Programme (CARCIP), will on Tuesday launch an EC$2.5 million grant instrument to support ICT business incubator services and training.



Funds allocated for the business incubator services component will support government’s efforts to nurture local innovation by providing financial support to technology-based small to medium sized enterprises.



The goal is to develop a more sustainable entrepreneurial base by providing financing for business development activities aimed at promoting the creation of an ICT-enabled industry.



CARCIP will partner with agencies such as the Ministry of Commerce, Business Development, Investment and Consumer Affairs and the Trade and Export Promotion Agency (TEPA).



The agencies will assist with the provision of business support services, mentorship and business counselling for the target beneficiaries.



The training grant component will complement ongoing efforts by the government to prepare the youth for the job market.



The training will be market-driven and accredited at the regional and international levels.



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