Venture and SEED Capital Funds will be launched during the upcoming fiscal year, under the Boosting Innovation, Growth and Entrepreneurship Ecosystems (BIGEE) Project.

BIGEE, which is being implemented by the Development Bank of Jamaica (DBJ), has been allocated approximately $1.7 billion in the 2025/26 Estimates of Expenditure, now before the House of Representatives.

The project is aimed at promoting sustainable and robust growth among business startups and micro, small and medium-sized enterprises (MSMEs) in Jamaica.

Specifically, its objectives are to promote innovation and productivity among established MSMEs with high growth potential, promote sustainable and disruptive growth in scalable startups, and create a sustainable pipeline of high-growth startups and strong supporting ecosystem for entrepreneurship.

During fiscal year 2025/26, the project will also seek to finance research development and innovation projects through the MSME Innovation Fund, implement a mentoring and networking programme for female-led startups, host recognition awards for outstanding women-led startups, support academic institutions on entrepreneurship and issue vouchers for corporate entrepreneurship services.

BIGEE is being funded by the European Union and Inter-American Development Bank.

The project commenced in April 2020 and has been extended to September 2026.

Among its achievements up to December 2024 were three iterations of the Innovation Grant Fund for medium-sized firms, financing of 21 projects under the Innovation Grant Fund, provision of grants to 83 startup businesses under IGNITE III and disbursement of 751 vouchers for extension services.