The Development Bank of Jamaica (DBJ), through its Boosting Innovation, Growth and Entrepreneurship Ecosystems (BIGEE) Programme, continues to make significant strides in advancing the domestic innovation landscape and empowering micro, small and medium-sized enterprises (MSMEs). 

The programme plays a pivotal role in strengthening the country’s innovation ecosystem, accelerating growth among startups and enabling local entrepreneurs to build globally competitive businesses.

Since its launch in September 2020, the BIGEE Programme has disbursed over US$9.9M to more than 1,462 Jamaican MSMEs. These resources were strategically allocated in line with the programme’s objectives to catalyse innovation and entrepreneurial development. Under the Innovation Grant from New Ideas to Entrepreneurship (IGNITE) component, 82 early-stage businesses have received support to execute innovation-driven projects, resulting in a 60 per cent increase in their sales over the past two years.

Similarly, the Innovation Grant Facility (IGF) has assisted 31 businesses, which collectively reported a 25 per cent increase in their company’s employment during the same period. 

This disbursement aligns with the programme’s strategic plan and projected timelines, ensuring that funding is effectively deployed to support targeted outcomes in innovation, job creation and business growth.

“The BIGEE Programme reflects the Development Bank of Jamaica’s unwavering commitment to building a resilient, innovation-driven economy. By investing strategically in high-potential entrepreneurs and MSMEs, we are not only catalysing sustainable business growth but also strengthening Jamaica’s national capacity for innovation and competitiveness. The success we have seen to date underscores the importance of ecosystem-based support and we remain focused on deepening this impact through continued engagement and the development of future phases,” stated Dr David Lowe, DBJ managing director.

The programme is financed through a US$25 million loan agreement with the Inter-American Development Bank (IDB) and an additional US$8.2 million non-reimbursable grant from the European Union (EU). Initially scheduled to conclude in March 2025, Phase I of the BIGEE Programme has been extended to September 2026.

This extension allows for continued monitoring, technical support and engagement with project beneficiaries to strengthen their long-term success and sustainability.

As part of its continued implementation, several BIGEE initiatives remain active and accessible to Jamaican entrepreneurs. These include the Corporate Venturing Programme, which is supported by an allocation of funding of J$300 million; the Patent Grant Fund, with J$50 million in dedicated funding; and the Angel Investor Fund, which provides J$100 million to support early-stage ventures.

These initiatives are fully resourced and continue to deliver critical support to startups and MSMEs that are driving innovation, competitiveness, and sustainable economic transformation across Jamaica and the wider region.