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The National Competitiveness and Productivity Council (NCPC) officially launched its latest initiative on Monday, April 18, 2016. The ProCom Challenge, as it is known, was launched at the Government Information Service studio at Hewanorra House in Vigie. The ProCom Challenge invites businesses to apply for co-financing up to EC$100,000.00 in selected thematic areas, including energy efficiency; compliance with local, regional, and international standards; reduction of operational costs; and improving business productivity.
Prime Minister Dr. Kenny Anthony was the keynote speaker at the ceremony, which was attended by Hon. Emma Hippolyte, Minister for Commerce, Business Development, Investment, and Consumer Affairs; Rayneau Gajadhar, NCPC Chairman; Fiona Hinkson, NCPC Executive Director; Jacqueline Emmanuel-Flood, CEO of the Trade Export Promotion Agency; as well as Government and private sector officials. The Prime Minister - using as his theme “Driving Productivity and Competitiveness Through Innovation” - lauded the initiative, which is meant to help create an enabling environment for higher, sustained levels of economic growth, by targeting micro, small, and medium enterprises.
The Prime Minister pointed out that innovation challenges such as the ProCom Challenge are commonplace where jurisdictions are aiming to boost their level of output and effectiveness. On average, over 20% of firms in advanced economies receive public support for innovation, compared to less than 5% in the Caribbean. The deadline for submission of applications for the NCPC ProCom Challenge is May 27, 2016
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