News

v (VEDG) programme will open on Tuesday 15^th April, 2025.

The VEDG programme is designed to support Caymanian entrepreneurs, micro and small businesses in the tourism sector with the funding needed to create new and authentic visitor products and services, to expand the tourism offerings in the Cayman Islands.

Results from the 1^st Cohort:

First introduced in September 2024, the programme’s initial offering was a success, with 110 applications being received from the public. The application process involved a six-week submission period, and was followed by a structured, formal evaluation process.

A financial and technical assessment was then completed by the Cayman Islands Centre for Business Development (CICBD), with top applicants proceeding to final round, with scoring by a panel from the Ministry of Tourism and Ports (MOTP) and the Department of Tourism (DOT).

Fourteen successful applicants were awarded grants of up to CI$50,000 for a variety of business concepts, including technology (app development), culinary, watersports, art and crafts and traditional music/entertainment.

To support the success of these new endeavours, the awardees will receive ongoing monitoring and evaluation by the MOTP, ensuring they have a high level of customer service skills and relevant cultural knowledge which they can impart to their clients.

Another element of the funding agreement requires awardees to undergo training sessions as directed by the Ministry, in partnership with the Cayman Islands Centre of Business Development (CICBD). Continued monitoring will also ensure that funds awarded are being used in the manner they were prescribed for.

Minister of Tourism’s remarks:

On the programme, Deputy Premier and Minister of Tourism Hon. Kenneth Bryan expressed “This grant programme is unlike anything we have offered before – and I’m very pleased that we are able to offer it to the Caymanian people once again.

It is increasingly important to have diversified and authentic tourism products for our visitors to experience Caymanian hospitality and culture. I look forward to seeing the present awardees thrive and wish them every success with their new business endeavours.

Eligibility Criteria:

To be eligible for the Visitor’s Experience Development Grant, applicants must meet the following criteria:

• Be 100% Caymanian-owned and staffed per the Immigration (Transition) Act (2022 Revision).
• Offer new products/services aimed at international visitors.
• Be compliant with all relevant licensing and statutory requirements as stipulated under the Trade and Business Licencing Act and other relevant statutory requirements.
• Complete the application form in its provided format. Only one application per owner may be submitted.

Application Process:

The VEDG programme is open to receive applications for a 6-week period, from April 15^th to May 30^th. Interested parties must complete the online application form available at www.ourcayman.ky/VEDGP and provide all the requested documents to submit their application.  Only complete applications will be considered.

Applications received will be subjected to the review process set out below.

Review Process:

1. Submission Stage: Applicants must complete the online application form, attach all required supporting documents, and submit it by the specified deadline.

2. Evaluation Stage: A panel consisting of representatives from the Ministry of Tourism & Ports (MOTP), the Cayman Islands Department of Tourism (CIDOT), and the Cayman Islands Centre for Business Development (CICBD) will review and score all applications based on the established criteria.

3. Final Selection Stage: The highest-scoring applicants will receive grant funding, subject to the approved budget and availability of funds.

Grant Details:

Successful applicants will be subject to the following conditions:

• Awards up to KYD $50,000 will be based on the provision of evidence, i.e., quotes and/or invoices, regarding the expected use of the requested funds.
• Once approved for the grant, successful applicants will be required to submit evidence that funds were solely used for business operations. Otherwise, cessations of funding and/or repayment of funds received will apply. Applicants must comply with all requests for documentation relating to expenses.
• The grant will be awarded to the highest-scoring applicants, as determined by the scoring criteria. As such, a limited number of grants will be awarded, determined by the total funding provided in the approved TP 122 budget.
• Successful applicants must participate in workshops provided by the Cayman Islands Centre for Business Development (CICBD) and the Cayman Islands Department of Tourism (CIDOT).
• Successful applicants must complete a Key Performance Indicator (KPI) form for monitoring by the Ministry of Tourism & Ports (MOTP).

Further Information:

For more information on the Visitor Experience Development Grant programme, including how to apply, please visit www.ourcayman.ky/VEDGP or contact the Ministry of Tourism and Ports by email at MOT-Requests@gov.ky.