LocationsEmpowering Innovation and Entrepreneurial Ecosystems through Financing for Risk Informed Development: Eight Entrepreneurs Awarded Grant to drive Sustainable Development in Fiji
September 18, 2024
The eight entrepreneurs with Minister for iTaukei Affairs, Culture, Heritage and Arts, Hon. Ifereimi Vasu and donor partners during the awards ceremony at the Great Council of Chiefs Talanoa Lounge in Suva, Fiji.
Suva, Fiji – Eight entrepreneurs have today been awarded grants via the Drua Innovation Small Grant Scheme (DISGS) 2.0, an initiative that recognizes the need to enhance the ability of entrepreneurs to secure capital and innovation finance for improving and scaling up micro, small, and medium-sized enterprises (MSMEs) and cooperatives in areas related to climate change mitigation and adaptation.
The DISGS 2.0 initiative is implemented by the iTaukei Trust Fund Board (TTFB) supported by the UN Development Programme (UNDP) Governance for Resilient Development in the Pacific (Gov4Res) project and the Solevaka Development Accelerator Project.
Recognizing the critical challenges entrepreneurs face in accessing finance, the TTFB has taken steps to establish a comprehensive support system for businesses. This support system aims to offer performance-based grant support and de-risking finance tailored to entrepreneurial ventures that are risk-informed and community-centric. This boosts business resilience and ensures that enterprises contribute positively to local development.
Following an open call for proposals and a rigorous selection process that highlighted gender inclusivity, eight dynamic projects have been chosen to receive support through the DISGS 2.0. These initiatives were chosen for their strong potential to drive innovation, sustainability, resilient development, and community benefits in sectors ranging from renewable energy, integrated eco-tourism, digital transformation, and low carbon maritime transportation. The selection process was undertaken with the support of the Ministry of Rural and Maritime Development and Disaster Management to ensure alignment between the ministry’s goals of ensuring prosperous and resilient communities in Fiji.
During the ceremony, Minister for iTaukei Affairs, Culture, Heritage and Arts, Hon. Ifereimi Vasu, said these ideas and projects will significantly contribute to the sustainable development of Fijian communities.
Minister for iTaukei Affairs, Culture, Heritage and Arts, Hon. Ifereimi Vasu.
“These projects not only showcase innovation but reflect a strong commitment to inclusivity, resilience and the wellbeing of our people, especially the traditional resource owners,” he said.
To the recipients, Hon. Vasu said they served as a reminder that innovation was not just about technology; it is about finding solutions that uplift and empower people.
The Deputy British High Commissioner to Fiji, Nicola Noble, highlighted the range and quality of ideas presented, emphasizing the commitment to supporting livelihoods and building on Fiji’s innovative foundations for low-carbon, climate-resilient growth.
Deputy British High Commissioner to Fiji, Nicola Noble.
“The climate crisis needs global, long-term action but we must also take rapid steps to support countries on the frontline, like our partners in the Pacific,” she said.
The ceremony not only celebrated the recipients but also marked a significant step towards strengthening the support system for entrepreneurs within Fiji’s communities. The TTFB remains dedicated to ensuring these initiatives contribute meaningfully to sustainable development and innovation.
The eight awardees were Be An Inspiration (BAI) Private Limited, Ibda Group Pte Ltd, Leleuvia Island Resort, Nadave New Dawn Cooperative, Yavusa Navakavu Development Trust, Walks and Trails (Fiji) Pte Ltd trading as Talanoa Treks, Vuadomo Company (Fiji) Pte Ltd – Muanivatu Trails, and Yavirau Pte Ltd.
The DISGS 2.0 is proudly supported by the Australian Department of Foreign Affairs and Trade, Korea International Cooperation Agency, the New Zealand Ministry of Foreign Affairs and Trade, and Swedish International Development Cooperation Agency, and the United Kingdom Foreign, Commonwealth and Development Office.
For further information, please contact:
Vineil Narayan | Project Manager, UNDP Pacific Office in Fiji | (E) vineil.narayan@undp.org
Ashna Kumar | Communications Associate, UNDP Pacific Office in Fiji | (E) Ashna.kumar@undp.org
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