Media Release
Tuesday, July 17, 2012
Thirty Caribbean innovators will soon learn whether they will be the lucky recipients of US$200,000 to allow them to turn their renewable energy or energy efficiency project dreams into reality.
That is because out of over 180 bright ideas submitted for the 2012 IDEAS Energy Innovation Contest for the Caribbean, which supports the development of innovative projects promoting renewable energies and improving energy efficiency, 30 winning innovative ideas identified.
According to a release issued by the Inter-American Development Bank (IDB) this weekend, a jury made up of representatives from each of the sponsoring entities reviewed the proposals and selected the best based on criteria that included innovation, financial sustainability and replicability. The 30 projects shortlisted came from Barbados, Belize, Dominican Republic, Haiti, Jamaica, Suriname and Trinidad and Tobago.
According to the IDB, solar-based technologies were the most popular ideas for innovation, followed by Biodiesel and Efficient stove/charcoal, and then a roughly equal representation of Biogas, Energy Efficiency, Wind and Transport. Applicants' profiles were a mix of community-based organizations, energy companies, existing companies and new enterprises.
Last week, the jury identified the winners and full details will be published later in August once the agreements are signed.
Each winner will be granted up to US$200,000 to develop their innovative energy efficiency or renewable energy solution that will have local or regional benefits, provide jobs and reduce greenhouse gas emissions.
In addition to grant funding, winners will receive technical and business development support to implement or scale up their ideas, as well as access to other experts, policymakers, institutions and potential financial partners. The goal is to enable the winners to turn their ideas into financially sustainable businesses, helping solve the energy problems facing the region.
This round of the contest was targeted specifically at the Caribbean, with financial support provided by UKAid from the Department for International Development. The wider contest is also sponsored and supported by GVEP International, the Government of South Korea, and the IDB.
Photo Credit To Background Pictures
