QICS

How to apply for QIC status:

Businesses seeking investment from a Venture Capital Company registered with the VCIP must first obtain Qualifying Investee Company Status from the VCIP.

To be eligible for investment from a VCC the QIC must:

Be either incorporated or registered under the Companies Ordinance or designated a CARICOM enterprise under the CARICOM Enterprise Act.

Have under TT50,000,000 in capital.

Not be established for the purpose of carrying on operations in any of the prohibited categories of business.

The VCIP allows eligible businesses to use VCC funds for capital expenditure and working capital. The funds cannot be used for lending, purchasing securities, payment of debt, acquiring land, entering into non-arm's length transactions or investing outside Trinidad and Tobago except where the investment is directly in support of the activities of the QIC.

QIC's under the VCIP

Kaisoca Productions Limited

This company is responsible for a start up radio station, called Radio Tambrin, which services the island community of Tobago. Radio Tambrin received funding from Add Venture Capital Fund in January 1998.

After 6 years of operations and under the leadership of George Leacock, Radio Tambrin has successfully positioned itself as an important part of the Tobagonian cultural and business landscape.

Hardbody Garment Co. Limited

This company designs, manufactures and distributes fashion clothing. It received funding from Prudent Venture Capital Company Limited in 1998.

Executive Air Services Limited

This company received funding from Add Venture Capital Fund Limited in 2002 to purchase an aircraft for operation in the private charter market.

Shells Productions Limited

A start up film production company specializing in local film production for the international market. The company received funding from Add Venture Capital Fund in September 1999.

The company recently showcased its first film, “Secret of Shells” at the Cannes Film festival. It is currently in negotiations to have the film released in the North American Cable market.

Danakina Limited

A start up holiday resort, operating under the name Glens’ Cove located on the east cost of Tobago. The company received funding from Add Venture Capital Fund in July 2000.

Lincoln Enterprises Limited

A long standing manufacturer of steel pans and related accessories, Lincoln Enterprises received funding from Add Venture Capital Fund in 2000.

The Carnival Export Company Limited

This company seeks to manufacture a range of products that distinctively reflects the culture of Trinidad and Tobago. The Carnival Export Company Limited received funding from Add Venture Capital Fund Limited in August 2001

Caribbean Molding Industries Limited

A management buyout of a manufacturer of rubber products and vinyl extrusions for local, regional and North American markets. CMI Limited received funding from Add Venture Capital Fund in May 2001.

The financing is expected to assist the company with its developmental plans of positioning the company to take advantage of the opportunities that exist for the diverse range of rubber products developed and manufactured by CMI Limited.

E-Business Technologies Limited

This company is responsible for the production and publishing of Caribbean e-business magazine. It received funding from Prudent Venture Capital Company Limited in 2002.

Information Support Services Limited (ISSL)

This company runs Car-Search, an island wide tracking system that recovers stolen cars. The company received an investment from Add Venture Capital Fund in 2002. The funds were used to purchase the Car Search name and assets from its previous owners.