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VCIP - Obtaining Advisory and Mentoring Unit (AMU) services


The Advisory and Mentoring Unit (AMU) provides Qualified Investee Companies (QICs) with advisory services and the pre-investment technical support necessary for them to secure funding for their projects.  AMU is a part of the Venture Capital Incentive Programme (VCIP), which was introduced to address the lack of equity capital available for small business financing in Trinidad and Tobago.

 

AMU assistance takes the form of in-house advisory services as well as outsourced specialized services where costs will be borne jointly by the VCIP and entrepreneur.




What entities are qualified to access services through the AMU?

Only those small or medium businesses that have obtain Qualified Investee Company (QIC) status can access the services available through the AMU.

 

Also, QICs applying for AMU assistance must adhere to the following terms and conditions:

 

  • QICs will be responsible for any up front, start up or mobilization fees charged by the intermediary.
  • The portion of the pro forma invoice to be paid by the VCIP will be determined by the Evaluating Committee.
  • The VCIP will only disburse funds to the intermediary when the following conditions are met:
    • The job has been completed to the satisfaction of the VCIP and QIC and a final invoice has been submitted.
    • The VCIP is satisfied that the QIC has made acceptable arrangements to settle its portion of the invoice.  Where there has been a private arrangement between the intermediary and QIC to settle the debt over a period of time, evidence of this must be supplied to the VCIP in writing.
  • Should the QIC wish to contract further services form the intermediary after securing financing, those arrangements must be made directly between the QIC and the VCC.

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What is the process for accessing services through the AMU?

To access assistance via the AMU, a QIC must obtain an AMU Application Form, which can be downloaded using the link at the bottom of this section.  Requests for the form can also be made by phone, email or in person from the VCIP Office of the Administrator.

 

Office of the Administrator
Venture Capital Incentive Programme
36 Pembroke Street
Port of Spain
Trinidad, West Indies
Tel. (868) 624-3068/3081/3085
E-mail: vcip@carib-link.net
Opening hours: 8:00 am to 4:00 pm, Monday to Friday, except public holidays

 

 

If the advisory services are being provided by an outsourced specialist (registered intermediary), the applying QIC must include a pro forma invoice from a registered intermediary detailing the services to be provided and the estimated cost with the application.  A list of registered intermediaries can be accessed using the link at the bottom of this section.

 

 

Forms should be completed in accordance with the included instructions and returned, with all required documentation, to the VCIP Office of the Administrator at the address above.

 

 

The VCIP Evaluating Committee will evaluate the request based on information submitted by the entrepreneur regarding the viability of the project, the estimated cost of the services needed, and the financial position of the company.  The Committee will inform the QIC of its decision within seven working days of receipt of a completed application and all required supporting documentation.  The Committee's decision to either grant or decline the QICs request will be provided in writing.

 

 

Where approval has been granted, the intermediary providing services to the QIC will be informed in writing.  It will receive a copy of the AMU Agreement Form, duly signed by the VCIP and the QIC, that contains the terms and conditions as well as the obligations and rights of parties involved.  All parties, including the QIC, VCIP, and intermediary, must sign the agreement for the contract to be valid.

 

 

This assistance will take the form of the VCIP paying an approved percentage of the cost quoted on the pro forma invoice to a registered intermediary.  Those approved will only be able to receive assistance up to a maximum of 50% of the value of the pro forma invoice or TT$10,000, whichever is lower.

 

 

Advisory and Mentoring Unit (AMU) Application Form

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Where can I find more information about the VCIP?

More information can be obtained from the Office of the Administrator at the address above, or on the VCIP website.

 

Venture Capital Incentive Programme

 

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