Entrepreneurs to vie for funding

GCCI President Timothy Tucker
GCCI Vice President Timothy Tucker

To mark their second consecutive year conducting the Business Development Forum, the Georgetown Chamber of Commerce and Industry (GCCI) has announced the launching of a grant for entrepreneurs who can present the best business plan.

The forum, which is in its second consecutive year, was launched under the theme ‘Evolve your brand; fuel your finance’. At the launch, GCCI Vice President Timothy Tucker made the announcement of the grant, which entrepreneurs in the room would have to vie for. In order to be picked, however, their plans will first have to be evaluated by a GCCI panel.

“This year, the GCCI is pleased to announce the launch of its small business division fund. There will be a grant of $300,000, to target an individual, with a small business idea, who would like to see it come to fruition. So all those budding entrepreneurs and people studying their MBA’s and have a great business idea, will have an opportunity to sign up at this event,” Tucker said.

He added that the GCCI evaluation panel will analyse the applicants against a given set of criteria— including the business’ capability, potential for growth, profitability and environmental benefits. The winner will be announced within four weeks.

Tucker noted that beside the grant, winners will also receive technical support for their business growth from the GCCI. In addition, the winner of the grant will receive a year’s worth of free membership within the chambers.

The forum was first launched last year. The GCCI partnered with organisations including the Inter-American Development Bank (IDB), Republic Bank and the Business Ministry.

Among the speakers at the event are businessmen Rosh Khan and Vishnu Doerga, Rowen Willabus and Nigel Deosaran— who will deal with Initial Public Offerings (the act of putting company shares on the stock market).