The RISE program specifically targets established and successful Fijian businesses by encouraging them to invest in Research and Development (R&D), science and innovation. Investment in these areas mean any systematic, investigative and experimental activities that involves novelty or technical risk carried out in the field of science or technology with the object of acquiring new knowledge or using the results of the activities for the production or improvement of materials, devices, products, produce or processes.
The Ministry will later invite applications from potential RISE recipients and application form will be made available through this website.
Proposals would be eligible for funding of up to a maximum grant of $100,000. A sub-section of applications for a maximum grant of $50,000 will be reserved for small and medium enterprises.
A transparent process of advertising an Expression of Interest inviting submission of proposals will be launched in due course and proposals received will be assessed against the following eligibility criteria:
- Applicants should be local enterprises and aspiring entrepreneurs who will be undertaking R&D, science and innovation should be locally registered with operations based in Fiji. This can include research departments of educational institutes who are looking to ‘spin out’ commercial products;
- Businesses with annual turnover of more than $500,000 must provide an audited annual financial report for the past year, and a confirmation from a Solicitor that they do not have any outstanding litigation matters;
- Project proposals provided by the applicant must be built around R&D, science and innovation and targeted at interventions that will result in further investment and recruitment of Fijians in these areas. This can be achieved through any innovative, systematic, investigative and experimental activities that involves novelty or technical risk carried out in the field of science or technology with the object of acquiring new knowledge or using the results of the activities for the production or improvement of materials, devices, products, produce or processes;
- Preference will be accorded to applicants who have made a commitment to the socio-economic development to Fiji with proposed projects aligned to the national, regional and international Green and Blue economy agenda. Project proposals that will improve Fiji and the Pacific region’s ability to respond to climate change adaption requirements and the protection and preservation of our natural environment will be given due attention; and
- Preference will also be accorded to projects that provide financial commitment equal to or greater in value to the RISE grant that will be provided. Firms that undertake this would have demonstrated ownership and confidence in their proposal which will be positively considered by the RISE Selection Panel.