Blue Economy Innovation Pre/incubation Program

Project #: RG-T3815

TC name: Project Development to Enhance Productivity and Innovation and Enabling Business Environment of Blue Economy Industries

Selection: RG-T3815-P001

Description: Blue Economy Innovation Pre/incubation Program

The general objective of this consultancy is to carry out: (i) the preparation of six (6) Innovation Business Plans (IBPs) to help firms based in the 13 Caribbean countries and in the OECS to access project funding, given CCPF’s eligibility and funding guidelines and (ii) the implementation of one (1) preincubation program to six shortlisted firms that should include workshop and mentoring sessions for business modeling, product development and market fit, marketing and growth, pitch and presentation skills.

Key Activities
1.1. Conduct desk and field research about firms’ sectors, market research to identify market problems and opportunities, firm’s business evaluation assessment in terms of processes and product, technical capabilities to drive innovation and current financial status to identify strengths andweaknesses, and key challenges to respond to market demands and further engage in the implementation of the IBP. Work with the firm to compile all the necessary information to produce the IBP in accordance with the Compete Caribbean IBP template.
1.2. Organize consultations with firm stakeholders and conduct a series of workshops that help firms to complete the IBP and learn about the innovation process from the identification of market problems and opportunities to the implementation and scaling up of innovative solutions but most importantly in building a culture of innovation within the organization in which all firm stakeholders are engage in bringing creative and disruptive solutions into the IBP.
1.3. The Consultant will also:
■ Develop relationships with all firm stakeholders to earn trust, understand concerns, identify interests/needs, and encourage collaboration through a participatory approach focused on achieving common objectives.
■ Provide coaching and advisory services to firm stakeholders to encourage convergence around IBP based on the market opportunities identified. This includes a methodology to collect missing information and facilitate discussions, helping the firm to articulate their vision, goals, and define an innovative value proposition for the market targeted and growth strategy. The strategy should clearly address gender equality and climate resilience.
■ Identify opportunities for firms to digitize their processes and operations and ensure that a proper management system is in place that allows for a data-driven and market-driven approach to decision-making.
1.4. Collect baseline data using the templates provided and help firms to implement a monitoring and evaluation system that is suited to their initiative. Define key Indicators that should be measured in the IBPs.
1.5. Pre-Incubation Workshops:
■ Design and implement pre-incubation workshops for the top 6 short-listed proposals. Finalists will undergo a pre-incubation workshop where they will receive personalized mentoring in innovation methodologies, business models, prototyping and pitching.
1.6. Support firms’ stakeholders in the elaboration of the IBPs and appendices in the templates provided. Provide appropriate and constructive feedback to the firm stakeholders on the business model underpinning the project and advise on the best use of project funding, given CCPF’s eligibility and funding guidelines. The consultant will ensure all sections of the IBP are completed to the satisfaction of the client and the CCPF Facility Coordinating Unit (FCU)
1.7. Submit IBPs to Compete Caribbean. Note that:
■ In the implementation plan, the consultant should incorporate activities such as the gender gap analysis of the firms involved, environmental and social considerations, as well as specific actions to ensure effective participation of women in the project.
■ The consultancy should also assess climate change risks and incorporate initiatives to enhance climate change resilience and adaptation.
■ The consultancy should assess (provide feedback and recommendations) the presentations and pitches for the Investment Panel session.