Growth

Trinidad & Tobago Manufacturers’ Association (TTMA) is aware of the difficulty to ascertain or secure funding for R&D. This may be as a result of numerous reasons; among these are the unawareness of the availability of the grant or fund; difficulty in qualifying for the grant given an unconvincing proposal for a new idea; and the funds offered are often inadequate to facilitate a comprehensive R&D project.

The TTMA is willing to facilitate with the help of our “Centres for Excellence” in the adoption and implementation of new ideas and technologies. Growth can only occur through the successful exploitation of new ideas – innovation.

This is one of the Pillars on which TTMA and this Committee stands. This Growth Pillar deals with; inter alia, New Business and Market Development, Trade Support Services and Environmental Responsibility.

FINANCING OPTIONS

Trinidad & Tobago Manufacturers’ Association (TTMA) recognizes the importance of financial sustainability for members and the fact that many members face challenges to secure financial assistance. The inability to secure financial assistance is the result of several factors including the lack of knowledge about these grants or funds available to members; challenges in the application process and the funds provided are usually inadequate to develop a project.

In an attempt to keep in line with our pillars - growth and sustainability – TTMA has produced a database with information on different types of financial assistance from different organizations; locally, regionally and international organizations. 

Some types of financial assistance include:

• The Micro - Enterprise and Training Grant (Ministry of People and Social Development, Trinidad and Tobago) - The Micro-Enterprise and Training grant is offered to persons who are interested in undertaking a small business venture or skills training.
• The National Entrepreneurship Development Company Limited (NEDCO, Trinidad and Tobago) - NEDCO provides loans to the members of the public. The NEDCO’s Loan Programme is not a standalone programme but is part of a comprehensive government strategy to facilitate sustainable and competitive small and micro businesses.
• The Research and Development Fund (Business Development Company Limited, Trinidad and Tobago) - The Research and Development Facility (RDF) is designed to provide support for research, development and technological innovation.

Financing Options
• The Caribbean Technological Consultancy Services Network Technical Assistance Programme (Caribbean Development Bank) - The CTCS functions as a client-oriented broker and financier of Technical Assistance (TA) to individuals, groups and business entities.
• Multilateral Investment Fund (Inter- American Development Bank) - Multilateral Investment Fund (FOMIN) grants support to small-scale, targeted interventions that focuses on the social welfare of people.
• European Development Fund (European Commission) - The European Development Fund (EDF) is the main instrument for providing community aid for development cooperation in the African, Caribbean and Pacific (ACP) Group of States and Overseas Countries and Territories (OCT). The EDF consists of several instruments, including grants, and loans.

The database provides more detailed information about these grants indicated above and others, the application processes, criteria and contact information. To see detailed information, please follow the link -

Types of Grant funds and Other Forms of Assistance.