$12M in grants disbursed through Green Business Tech Fund
The Small Business Bureau (SBB) on Tuesday presented 12 persons a total of $12 million through its Green Tech Fund.
The beneficiaries each received $1 million at a ceremony held at the Arthur Chung Conference Centre, Liliendaal.
Launched in 2017, the SBB’s Green Business Technology Fund is geared towards encouraging the implementation of businesses that incorporate fundamentals of the Green State Development Strategy.
Minister of Tourism, Industry and Commerce, Oneidge Walrond MP congratulated the 12 recipients, noting that it was a competitive selection process where awardees were selected based on the most practical, sustainable and innovative ideas.
“The idea is that you should use this financial support as a platform for business expansion so the years to come you will be in a position to contribute to increase in employment and economic growth in our country.”
She said the SBB sets aside $12 million each year to address the effects of climate change.
“It’s important that all of us play an integral role in mitigating the effects of this global phenomenon. Guyana, in spite of our small size, is among the leaders in sustainable development through the introduction of the Low Carbon Development Strategy.”
She said the Government wants more Guyanese to develop business ideas that are aligned with the Low Carbon Development Strategy.
Meanwhile, SBB’s Deputy Chief Executive Officer, Vanessa Thompson said the Green Business Technology Fund is an annual competition facilitated by the entity. It aims to support development of innovative green businesses, ideas and solutions, including market research, development and testing of new products, software, and business processes.
“The Green Business Technology Fund as we heard earlier is in its fourth year and to date, we have disbursed $33.8 million to 34 awardees from the previous years. Today, another 12 awardees will receive their grants of $1 million to support development of innovative small businesses.”
Awardee, Lemuel Williams, expressed gratitude to SBB for helping his Vehicular Global Positioning System (GPS) Tracker project.
“Hopefully with this solution here at the end of it all, we can have, Guyana can have a product that is being made locally that can solve this problem and at the same time be as effective as possible and will utilize our local networks so that we do not have to worry about internet access or any of those complicated issues.”
Nehru Narine also shared his project idea that is focused on food security and food sustainability utilising modern techniques as it important to the development of Guyana.