Building Disaster Resilience Capacity in the Virgin Islands
GrantID: 15904
Grant Funding Amount Low: $100,000
Deadline: Ongoing
Grant Amount High: $300,000
Summary
Explore related grant categories to find additional funding opportunities aligned with this program:
Education grants, Food & Nutrition grants, Health & Medical grants, Natural Resources grants, Small Business grants, Social Justice grants.
Grant Overview
Priority Outcomes for Virgin Islands Entrepreneurs
The Banking Institution's grant program for exceptional entrepreneurs in the Virgin Islands is designed to drive economic growth and development in the territory. To achieve this goal, the program focuses on specific priority outcomes that align with the unique needs and challenges of the Virgin Islands.
Fostering Innovation and Job Creation
One of the primary priority outcomes for this grant program is to foster innovation and job creation in the Virgin Islands. The territory's economy is heavily reliant on tourism, and the grant program aims to diversify the economy by supporting entrepreneurs who are developing new businesses and creating new job opportunities. The Virgin Islands Economic Development Commission plays a crucial role in supporting this effort by providing funding and technical assistance to entrepreneurs.
The grant program is particularly interested in supporting businesses that are creating jobs in industries that are underrepresented in the Virgin Islands, such as technology and renewable energy. The territory's unique geography, with its coastal economy and fragile ecosystem, makes it an ideal location for businesses that are focused on marine conservation and sustainable tourism.
Enhancing Economic Resilience
Another priority outcome for this grant program is to enhance the economic resilience of the Virgin Islands. The territory is vulnerable to natural disasters, and the grant program aims to support entrepreneurs who are developing businesses that can help the territory recover from these events. The Virgin Islands Territorial Emergency Management Agency works closely with entrepreneurs and other stakeholders to identify areas where businesses can support disaster recovery efforts.
The grant program is also interested in supporting businesses that are developing innovative solutions to the territory's economic challenges, such as the high cost of energy and the need for infrastructure development. By supporting businesses that are addressing these challenges, the grant program aims to enhance the overall economic resilience of the Virgin Islands.
Supporting Entrepreneurial Ecosystem
The grant program also prioritizes supporting the entrepreneurial ecosystem in the Virgin Islands. This includes providing funding and technical assistance to entrepreneurs, as well as supporting organizations that are working to develop the territory's entrepreneurial infrastructure. The University of the Virgin Islands Research and Technology Park is one such organization that is working to support entrepreneurs and startups in the territory.
To achieve these priority outcomes, the grant program will provide funding of up to $300,000 to exceptional entrepreneurs. The initial investment of $150,000 will be provided to for-profit organizations, with the potential for an additional $150,000 investment depending on the achievement of certain organizational metrics and milestones.
Q: What types of businesses are eligible for funding under this grant program? A: Businesses that are creating jobs in underrepresented industries, such as technology and renewable energy, are eligible for funding, as are businesses that are developing innovative solutions to the territory's economic challenges.
Q: How will the grant program support disaster recovery efforts in the Virgin Islands? A: The grant program will support businesses that are developing innovative solutions to support disaster recovery efforts, such as businesses that are providing emergency services or developing infrastructure that can withstand natural disasters.
Q: What resources are available to entrepreneurs in the Virgin Islands who are applying for this grant? A: Entrepreneurs in the Virgin Islands can access technical assistance and funding through organizations such as the Virgin Islands Economic Development Commission and the University of the Virgin Islands Research and Technology Park.
Eligible Regions
Interests
Eligible Requirements
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