Our incubator facility is where start-up businesses are moulded into economically viable enterprises with the capacity to create employment and stimulate economic growth. Game-changing entrepreneurs who are desirous of accessing on-site business advice and support services for the purpose of getting their business ideas off and running in a cost-effective and nurturing environment should give us a call!
There are valuable benefits to be gained from being resident in the incubator. There is the internal dynamics that are derived from businesses working together in a shared physical space with certain common services, the joint and cross-disciplinary learning that takes place, and the opportunity to form business networks and to make contacts which are vital to the launch of successful ventures.
Our incubatees are offered:
We provide a confidential environment of evaluation, consultation and education to innovators, helping them to take their ideas from the drawing board to the store shelf. We’ve helped several companies to develop their business ideas, and register their intellectual property rights in Barbados, the U.S.A., Canada and Europe.
Our Innovation Support Programme provides strictly confidential assistance for creative Barbadians involved in the development, intellectual property protection and commercialization of any new product ideas.
The Programme aims to ensure that no good ideas are lost due to a lack of financial, technical or other means of pursuing them, linking the expertise and skills necessary to assist persons in developing new products/services with good commercial potential.
We offer a comprehensive set of business intelligence services to help clients harness structured data to improve decision-making. Clients can access:
We aim to grow exports by increasing the number of companies both in manufacturing and services, which are actually exporting. We provide export marketing training to high potential companies to enhance their management expertise. The programme is intended to: increase the value of exports and the number of exporting companies with sustainable export markets; increase the number of businesses with formal training in exporting and preparation of export marketing plans; and enhance the level of management expertise available within SMEs. The extensive training initiative is designed to identify areas of organizational weakness in the businesses and administer a customised management training programme to address common problems while exposing companies to the rudiments of exporting.
Export Capacity Building
For those companies thinking about or already exporting, we aim to enhance their production capabilities and market penetration through general business counseling; product development including product testing and registration with overseas regulatory bodies e.g. the FDA and the development and implementation of export marketing plans.
The Pelican Craft Centre is the main avenue through which the Corporation seeks to bring artisanal designs alive with requisite education and marketing and technical assistance. Twenty-five (25) retail shops, 14 workshops, 2 restaurants, a gallery and a training room comprise the main facilities of the Centre. The craft development programme of services delivered incorporates training workshops, seminars, product development and promotional activities and the delivery of technical assistance. Workshops hosted especially target persons wishing to learn new skills and/or augment existing skills as a means of either encouraging the start-up of small businesses or where practicable, the strengthening and/or diversification of existing businesses.
Assessment of applications for benefits under the Fiscal Incentives Legislation
Fiscal Incentives are tax measures geared to encourage industrial development. These incentives are designed to assist manufacturing entrepreneurship. Manufacturing entities located and or incorporated in Barbados may qualify for incentives under this Act, providing they meet the qualifying criteria outlined in the Fiscal Incentive Act.
Any company wishing to be considered for fiscal incentives must first complete and submit in duplicate the:
Application forms are available for collection at the Barbados Investment and Development Corporation's Head Office only.
On completion, application forms should be forwarded to the Permanent Secretary, Ministry of Industry, International Business, Commerce and Small Business Development; and a copy to the Chief Executive Officer, Barbados Investment and Development Corporation.
To facilitate the appraisal process, all applications submitted to the BIDC for consideration relevant to the Fiscal Incentive Act must be accompanied by the specified information and named documents.
Under the provisions of Section 27 of the Fiscal Incentives Act, 1974, the performance of an approved enterprise shall be reappraised at the expiration of three years from the date of production and thereafter at intervals of two years. An Appraisal of Performance of Approved Enterprises Form should be completed in duplicate and forwarded to the Permanent Secretary, Ministry of Industry, International Business, Commerce and Small Business Development; and a copy to the Chief Executive Officer, Barbados Investment and Development Corporation.