22nd August, 2018: The Ministry of Trade and Industry, through state agency exporTT, disbursed $687,500 from the Research and Development Facility (RDF) to two (2) enterprises for projects intended to infuse technology into the operations of the respective businesses.
According to the Minister of Trade and Industry, Senator the Honourable Paula Gopee-Scoon, “the Government continues to offer incentives to businesses with export potential involved in strategic sectors. Wholly owned local businesses with innovative and technology driven ideas are encouraged to apply for funding under the RDF.”
$370,000 was disbursed to SafetyNet Limited and $317, 500 to Caribbean Sea and Air Marketing. Caribbean Sea and Air Marketing which currently produces Moruga Hill Rice intends to increase the utilisation of technology in the manufacturing process. Funding will be used to modify large scale harvesting equipment, apply new technology and also research and develop new products. SafetyNet Limited will develop a working prototype for an Information Communication Technology enhanced Process Safety Management System. The enterprise provides safety consultancy and general contracting services.
The revised RDF was launched by the Minister of Trade and Industry in November 2017 to stimulate and support Micro, Small & Medium Enterprises and advance the Ministry’s strategic objectives of growing and developing the manufacturing and services sectors.
Qualified businesses involved in the manufacture of food and drinks, leather and craft products, textile garments, footwear and headwear, chemical, beauty and personal care products, environmentally friendly packaging, printing publishing and paper converters and wood, furniture and related products; as well cocoa, vegetable, fruit, meat and fish processing, coffee dehydration, agricultural equipment and chemical manufacturing, aquaculture and floriculture, sugar and confectionary, chocolate, diary sauces, beverages (including tea, non-alcoholic beverages, fruit juices and alcoholic beverages), food packaging and oil extraction can access the facility.
Further information on the RDF is available at https://tradeind.gov.tt/application-approval-grant-funding/