What’s This Component About?
This component develops the key information necessary for planning future private sector development and competitiveness enhancing initiatives. The projects that are undertaken under this component are intended to increase regional and national consensus on the strategic and priority actions needed to promote private sector development; increase the synergies among donor-supported projects; and generally strengthen knowledge in the region by sharing best practices, lessons learned and new innovative ideas.
What Has Been Funded?
- This Component has financed private sector assessment reports (PSARs) in each country, using a standard methodology developed especially by the Program. The PSARs identify, guide and prioritize the set of interventions needed in each country and those needed regionally to improve competitiveness. A regional Caribbean Report has also been developed. These reports can be found on the Studies and Reports page of this website.
- Donor matrices (DMX) for each country has been financed. The matrices are posted on the Studies and Reports page. DMXs have helped the Program avoid duplications, inefficiencies and fragmentation and to develop synergies and maximize the impact of the development projects by improving coordination and alignment among the Donors.
- Financing has also been committed to projects that generate knowledge such as studies in strategic sectors and projects that disseminate knowledge either through exchange forums or through national or regional events that bring key practioners and thinkers together to share lessons learned and best practices.
For more about our knowledge products, view our studies and reports section.
Business Climate Reform
This component identifies and solves constraints to private sector development and growth. This is achieved by supporting the design and implementation of productive development policies, business climate reforms and strengthening public-private dialogue processes and institutions.
- Proposals that identify, quantify or solve constraints to private sector development in the region. These may include technical work to support the drafting and implementation of policies and regulations, as well as institutional strengthening to increase efficacy.
- Initiatives that support Public-Private Dialogue, including the establishment and strengthening of formal national competitiveness councils and their technical units which promote equitable representation from government, private sector, civil society, trade unions and other relevant stakeholders.
For more about our knowledge projects we’ve done around the region, view our projects section.
Enterprise Innovation Challenge Fund
The EICF epitomizes the intensity of Compete Caribbean’s commitment to the development of the region’s private sector. It is a competitive mechanism to provide financial support (through non-reimbursable grants) to the Caribbean private sector to pursue innovative projects in the region.
The Fund provides support for innovation activities through two thematic windows: The Innovation Window, which provides funding to firms and entrepreneurs to take a chance on an innovative, risky business idea in an attempt to improve the revenue performance and competitiveness of the firm and the Support to Clustering Initiatives Window, which provides support to a collective, either horizontally aligned or vertically integrated to pursue an innovative business idea with direct benefits to all parties involved.
Both windows are intended to positively impact the livelihood of the communities in which the businesses operate either directly or indirectly through increased employment and greater opportunities for income generation. The Fund is open to all who meet its criteria, and is promoted in the public domain and through targeted interventions at the local level.
Please note that the Compete Caribbean program is currently fully subscribed as it is executing over 90 projects in the region. Should we open the process in the future, it will be advertised through this web site and our newsletter.