Grant Information Briefing

Funded by the European Union, the COSME (COSME stands for the Caribbean OCT Small and Medium Sized Enterprises) grant scheme is dedicated to strengthen the development of small to medium businesses in the Caribbean region. Curaçao businesses are eligible to apply, and it is recommended that applications be submitted in conjunction with relevant industry associations. Ideal grant candidates will be applying for funding that can assist an industry or a number of companies within that industry, rather than a single business.

Popular grant funded projects include;

 – Opening, penetrating new markets

 – Lowering product costs

 – Accessing raw materials

 – Improving productivity

 – Intellectual property

 – Reducing environmental impact

This grant scheme is direct financial assistance it is not a loan. The grant is awarded in contract form, which details how the money is to be utilized. The maximum grant awarded is €12,000 or approximately Naf 23,000 and can account for up to 70% of the total costs for the project.

i.e 30% of applicants funds + 70% of COSME grant = total cost for project

The grant is received as milestones in the project are reached, and are structured as follows: Applicants must invest the first 30% of funds in the project, and then the grant team will release 60% of the awarded funds. Following a report from the applicant on progress in the project, the final 10% of the grant is released to the awarded applicant. The grant is not eligible for projects that have already been completed, or to act as a stopgap for businesses with financial difficulties.

Please contact the Curaçao chamber of commerce for more information or the Program Leader: Diana Hendrickson-Fleming e: Diana. hendrickson-fleming@gopa.de or visit cosmeprogramme.org