Business
JAM | Dec 4, 2023

Shavout completes successful J$16 million DBJ grant funding project

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Richard Harris, CEO of Shavout address the audience. (Photo: Contributed)

Shavout International Holdings Company has successfully completed its J$16 million project by the Development Bank of Jamaica (DBJ) under its Innovation Grant Fund (IGF) for medium-sized Jamaica businesses with innovative products and services.  

The IGF funding facility is apart of the Boosting Innovation Growth & Entrepreneurship Ecosystem, which is a five-year project valued at US$25 million being implemented by the Government of Jamaica (GOJ) financed by the Inter-American Development Bank (IDB).

Shavout’s project is aimed at implementing a new product line that utilises real Jamaican fruits and other Ingredients into a dissolvable powdered form to produce functional beverages and foods. The company has successfully completed all its deliverables within the 12-month implementation period. 

The Shavout product line being inspected by Shullette Cox, president of JMAPRO and team officers of DBJ Carlton Dunkley and Roxanne Donegan (Photo: Contributed)
L-R Carlton Dunkley, DBJ, Shulette Cox, President, JAMPRO, Marlene Parker, JAMPRO and Joel Harris, of Shavout (Photo: Contributed)
(Photo: Contributed)

Shavout successfully ‘closed-out’ the IGF project and launched its state-of-the-art manufacturing facilities at in Port Maria, St. Mary two weeks ago on November 24.

Tags
Boosting Innovation Growth and Entrepreneurship Ecosystems Programme CEO Richard Harris DBJ Innovation Grant Fund Development Bank of Jamaica Jamaica Shavout International Holdings Company

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