The Jamaica Business Development Corporation (JBDC) entered a new J$100 million partnership with the Development Bank of Jamaica (DBJ) on the 31st of May 2023 to facilitate the Growth & Expansion of MSMEs Through Innovation & Capacity Building (GEMINI) Programme that will benefit Micro, Small & Medium-sized Enterprises (MSMEs) across Jamaica.
The GEMINI Grant Programme (GGP) is funded by the DBJ and allows participants to access JBDC’s suite of business development programmes including Nursery Programme, Incubator Programme, Accelerator Programme and Scale-Up Community.
The GEMINI Grant Programme (GGP) will support the short-term to medium-term needs of up to 100 MSMEs islandwide by giving them a well-needed handholding programme that will support them at any stage of their business. MSMEs participating in GEMINI will access 80% of their funding from the DBJ, that is up to J$800,000 worth of business development services from JBDC.
The one-year pilot programme will target MSMEs that are registered with the Companies Office of Jamaica (COJ); have 51% of shares owned by a Jamaican; have been in operation for one year or more; have a valid Tax Registration Number (TRN); are a part of the focus sectors; and is a member of the JBDC’s Small Business Development Centre Network (SBDC). The SBDC is a project by the Ministry of Industry, Investment & Commerce, implemented by JBDC.
The JBDC is an agency of the Ministry of Industry, Investment & Commerce.