The Barbados-based Caribbean Development Bank (CDB) has launched a new US$500,000 initiative to support women-led businesses in developing innovative clean energy solutions and accelerating the Caribbean’s transition to a sustainable energy future.
The initiative is being undertaken through the CDB’s SheTrades Caribbean Hub with support from the Canada government funded Supporting Resilient Green Energy (SuRGE) programme.
The Facility will provide targeted technical assistance to help women-led businesses in Belize, Dominica, Grenada, Guyana, Jamaica, St. Lucia, St. Vincent and the Grenadines and Suriname develop and transform innovative clean energy concepts and solutions into commercially viable products and services.
The CDB said that women-led MSMEs continue to face barriers in accessing technology, financing, technical expertise and business networks, particularly within emerging green economy sectors.
It said that the SheTrades Caribbean Tech It Up Facility addresses these challenges by creating pathways for women entrepreneurs to participate more fully in the rapidly growing sustainable energy sector.
Through the project, eligible Caribbean women-led businesses, including scientists, researchers or technologists will receive technical assistance and financial support over the three-year period from 2026–2028 to increase the adoption of energy-efficient technologies and practices.
Areas of focus include developing and commercialising clean energy innovations, building technical and business management skills, accessing financing opportunities, and integrating into regional and global clean energy value chains.
“The transition to sustainable energy presents significant opportunities for innovation, entrepreneurship and economic growth,” said Dr. Isaac Solomon, Vice-President, Operations, at the Caribbean Development Bank.
“The SheTrades Caribbean Tech It Up Facility is designed to bridge the gap between innovation and commercialisation by providing women entrepreneurs with the skills, mentorship, financing and technical support needed to transform promising ideas into market-ready solutions.”
Under the project, the SheTrades Tech It Up R&D Grant will also provide US$100,000 in funding support for a women-led business operating in the field of science, technology or product development and innovation to develop commercially viable solutions in energy efficiency, renewable energy applications or smart energy systems.
The CDB said that projects will be assessed based on innovation, technical feasibility, patentability, commercial viability, environmental impact, and the ability to create scalable and sustainable economic opportunities.
The successful applicant will receive funding support, technical mentorship, business development coaching, intellectual property guidance, market readiness support, and must collaborate with Caribbean and Canadian academic institutions engaged in research, collaborative innovation and solution development in clean energy and/or energy transition.
“Canada is proud to support initiatives that advance women’s economic empowerment while contributing to climate resilience and sustainable development,” said Canada to Barbados and the Eastern Caribbean, Brenda Wills.
“Through the SuRGE programme, we are helping create opportunities for women entrepreneurs to participate in the clean energy transition and develop innovative solutions that generate lasting economic and environmental benefits,” the diplomat added.
The CDB said that the initiative is expected to contribute to the development of market-ready energy solutions, strengthen the participation of women in science, technology, engineering, and mathematics (STEM) entrepreneurship, foster academic-industry collaboration, and increase women’s participation in the Caribbean’s emerging green economy.
“As a central feature of the Regional Hub’s implementation, partnerships between Caribbean and Canadian universities will serve to strengthen research and innovation ecosystems and provide entrepreneurs with access to research commercialisation expertise, innovation labs and facilities for knowledge exchange through technical cooperation,” it said. (CMC)