ST. LUCIA: Innovation is a key driver of economic growth through improved productivity and competitiveness. In the Saint Lucia, limited access to commercial funding presents a major constraint to innovation. The Government of Saint Lucia through the National Competitiveness and Productivity Council (NCPC) and funding assistance from Compete Caribbean conceptualized the PROCOM Challenge in an attempt to encourage and stimulate private sector-led innovation in Saint Lucia.
The PROCOM Challenge is a competitive challenge, where micro and small enterprises (MSE) will be invited to develop targeted innovative solutions to tackle some of the productivity and competitiveness challenges facing in Saint Lucia. The Challenge will provide co-financing of up to $100,000 XCD for the development and execution of winning proposals in a number of thematic areas including but not limited to the creation of projects or solutions that seek improve business processes for greater efficiency and productivity.
Technical Co-ordinator of the NCPC Technical Secretariat and Project Lead for the PROCOM Challenge, Mrs. Melissa Hippolyte Descartes is very confident about this initiative. She says: “Innovation can come from anywhere. Some of the greatest ideas and inventions were developed when entrepreneurs decided to push themselves beyond their comfort zones. We want our applicants to get creative. While the Challenge has no specific sector focus and targets interventions from all economic sector (e.g. agriculture, manufacturing, and services), preference will be given to productivity and competitiveness enhancing solutions which can be applied across a multitude of organisations.
During this first round, the Challenge will be strategically targeting small and micro businesses that are already operating successfully and can demonstrate capacity to successfully undertake an innovation project.
Micro and small businesses domiciled in Saint Lucia are therefore encouraged to contact the NCPC at www.stluciancpc.org or call 468-5571/468-5576 for detailed information on the fund.”
Who: The National Competitiveness and Productivity Council (NCPC)
What: Launch of the PROCOM Challenge
Where and When: 9:30am, Monday, April 18th, 2016, GIS Press Room
Why:
- To enhance Saint Lucia’s Competitiveness and Productivity climate
- To provide co-financing for innovative ideas within the private sector while facilitating a much needed boost to the business environment
What to expect:
- Remarks by the Honourable Doctor Kenny Anthony, Prime Minister of Saint Lucia and Minister for Finance
- Remarks by Mr. Rayneau Gajadhar, the Chairman of the National
Competitiveness and Productivity Council (NCPC)
- Overview of the PROCOM Challenge by Mrs. Melissa Hippolyte
Descartes, Technical Co-oordinator, NCPC
- Questions and Answers Session
About the National Competitiveness and Productivity Council (NCPC)
Established in October 2013, The National Competitiveness and Productivity Council (NCPC) is responsible for the identification of key issues related to competitiveness and productivity in Saint Lucia.
The NCPC and its Technical Secretariat is committed to providing the necessary advocacy and research to produce timely and effective recommendations to policymakers on issues that affect both competitiveness and productivity on island. For more information about productivity or on the NCPC, visit www.stluciancpc.org; www.facebook.com/stluciancpc, call 468-55718/5576 or send an e-mail to stluciancpc@gmail.com
