Eligible projects:
- Projects comprising software and/or hardware development that have a clear potential to be scaled either as a business or a non-profit solution, in both cases improving the livelihoods in Eastern Caribbean
Chaitech Sandbox Grant recipients will receive:
- Whole or partial reimbursement of their project costs, including own labour
- Mentoring by Chaitech’s experienced mentor team
Eligible final products:
- Minimum Viable Product (MVP)
- Proof of concept (PoC)
- Prototype
- Further work on an MVP, prototype, or PoC with clear commercialisation or public utilization objectives. Further support for the projects previously enrolled in the Sandbox or supported by the Young Techpreneur Programme shall be given priority.
Based on the project, these should be accompanied by an updated business model canvas and/or a market analysis.
What must be included in the application?
- Product concept note i.e. a description of the business idea and its potential impact on the community (e.g. through encouraging sustainable sourcing or knowledge transfer)
- Business Model Canvas
- Breakdown of costs, clearly divided into externally purchased products and services, and own labour costs
- A mock-up / wireframes or other adequate visual presentation
- Time frame for completion with intermediate milestones, where applicable. Note that the project must be completed by 31st October 2022.
Who can apply?
Individuals or teams comprising of- / companies / non-profit organisations owned by a majority of individuals below the age of 30 at least partly resident in the following countries: Antigua And Barbuda, Barbados, Dominica, Grenada, Guyana, Saint Vincent and the Grenadines, St Kitts And Nevis, St Lucia, Trinidad And Tobago.
Maximum team size: 6
Total amount to be awarded in this Sandbox financing round shall not exceed EC$15,000. Chaitech expects to finance up to 5 projects total, but will consider funding more or less than that according to applications received.
Grants shall be awarded based on complete, credible applications on a first-come, first-evaluated basis. Incomplete applications may be sent back to the applicants for amendments or rejected altogether.
Full or partial financing: Chaitech may offer full or partial financing subject to the project’s eligibility. Note that where the requested financing takes us a considerable percentage of the total grant budget stated above, the applicants will increase their chance of receiving Chaitech funding by including partial funding from other sources.
Amendments to the grants: the grant agreement may be amended subsequently based on the actual financing needs as revealed after the signing of the agreement and the commencement of work.
Disbursement schedule: as agreed in the grant agreement, based on the time frame, where possible taking into account the milestones set in the application.
Subject to full discretion of the trustees, the following shall be used as a guidance for awarding the grants:
- Credible positive social and/or environmental impact demonstrated by the application, such as addressing climate change or improving livelihoods, especially of vulnerable groups (children, minorities, single mothers)
- The directness of the positive impact potential for the island/local communities
- The potential of the project’s integration with the local economy
- Additional consideration may be given to gender diversity of the applicant teams.
Commitments:
- keeping Chaitech updated regularly about the progress and any potential issues hampering such progress encountered
- adhering to the timeline and projected project completion
- Chaitech name and logo must appear on the product and its online presence alongside the team’s / company’s / non-profit’s own logo/name
- Team members must remain accessible as potential mentors for Chaitech’s future generations
Penalties for non-fulfillment of the grant agreement without a verified objective reason: immediate clawback of any funds already received, ban of the organization and all team members from any future Chaitech funding.