What is the Research & Development Facility?
The Research and Development Facility is a grant fund to provide financial support to the non-energy manufacturing and services sector. The aim of the project is to stimulate and support investment in new and advanced technology and innovation as a competitiveness enhancement tool for enterprises in the non-energy manufacturing and services sectors.
- To help manufacturing and service firms to develop innovative products, processes, systems and services;
- To increase the number of companies performing effective R&D in Trinidad and Tobago;
- To increase the scale of the investment in R&D in Trinidad and Tobago;
- To increase the number of companies doing R&D for the first time.
- The RDF is open to sole proprietors, businesses, partnerships and companies
- Must be an established business in Trinidad and Tobago in operation for at least one (1) year as evidenced by audited financial statements and/or bank statements
- Must be locally owned
- Must be from the non-energy manufacturing and services sector
- Must show evidence of being able to cover the required Client Contribution percentage of project costs based on the business size category.
Ineligible Businesses for Grant Funding
- Energy companies
- Start-up operations
- Businesses that deal in alternative medications
Criteria For Assessment
Applications will be evaluated based on several areas:
- Market research & strength of the market including competitor analysis, data collection methods and market testing
- Management and Technical experience of project team including plans for transfer of knowledge, local competence etc
- Local content
- Business Competence such as systems, procedures and policies and business sustainability
- Impact of the project on strategic direction of the business
- Commercial viability
- Degree of Innovativeness
- Impact on local economy
- Export potential
- Applicability of R&D activities.
Applications for funding of patent registration will also be evaluated on the feasibility of the proposed method of commercialization of the patent.