Eligibility criteria

Eligibility for Phase I: The Initial Assessment

Trade License Requirement

You must either:

  • Have a registered trade license, or

  • Have applied for a trade license with the Department of Trade, Investment Promotion and Consumer Affairs, Government of the Virgin Islands, and received one no later than August 25th 2026.

IMPORTANT NOTE:

  • Businesses related to fisheries may also be required to obtain the appropriate licence under the Fisheries Act.

  • Depending on the nature of the activity, additional permissions from the Ministry of Environment, Natural Resources and Climate Change may be required.

  • Non-profit organisations are welcomed to apply. They must provide a current NPO certificate no later than August 25 2026 and be committed to reinvesting 100% of profits back into the Non-profit following a social enterprise model.

Age Requirement

You must be at least 18 years of age.

Business Idea Requirements

  • Integrate ocean protection and regeneration into the core business model, where impact and profitability are inseparable

  • Demonstrate a clear, credible revenue model, with early traction (within 12 months) and a path to financial sustainability without ongoing subsidy

  • Stimulate the local economy, including job creation, durable employment, strengthened supply chains, reduced import dependence, and increased local spending

  • Pioneer innovative, locally rooted solutions in the BVI with strong potential for replication and scale

  • Deliver measurable environmental outcomes in at least one of the following priority solution areas:

2026 PRIORITY SOLUTION AREAS

  • Reduced pressure on marine species and ecosystems
    (e.g. sustainable fisheries, regenerative aquaculture, marine-based food systems)

  • Reduction in carbon emissions
    (e.g. low-carbon, ocean-linked local manufacturing)

  • Sustainable local food sovereignty linked to ocean health
    (e.g. aquaponics and systems that reduce pressure on marine ecosystems)

  • Ocean and coastal restoration businesses (e.g. reef-safe mooring installation, mangrove restoration services, coral restoration enterprises, restoration-linked eco-tourism)

  • Waste Reduction, Material Substitution & Circular Solutions
    (e.g. plastic alternatives, reuse models, recycling, and solutions reducing ocean-harmful waste)

  • Sargassum-to-value models
    (where commercially viable)

Applications that demonstrate the following will be scored most favourably:

  • Solvable: Addresses a clearly defined problem facing ocean health with a practical and credible solution

  • Measurable: Demonstrates quantifiable environmental and economic outcomes

  • Sustainable and Scalable: Shows a viable model that can grow and be adapted across regions or markets

  • Catalytic: Has the potential to drive broader change or influence systems beyond the immediate business

  • Innovative: Reflects fresh thinking and well-considered, creative approaches

Eligibility for Phase II: Detailed Business Plan, Financial Forecast and Impact Projection

You must be prepared to submit a Phase II Application by Aug 25 2026, including a detailed business plan, financial forecast, and impact projection that demonstrates the venture’s economic viability and potential for environmental and social impact (templates will be provided). 

Ethical Practices

Your business must operate with ethical practices that prioritize the well-being of both people and the planet.

Compliance

Your business must comply with all relevant legislation and regulations in the BVI. 

Particular attention must be given to ensuring your business complies with all relevant and regulatory requirements of The Ministry of Environment, Natural Resources and Climate Change.

Background Checks

You must be prepared to submit a:

  1. Criminal Background Check in the country/countries in which you have been residing in over the last 10 years. (In the BVI, this is a ‘Police Certificate’)

  2. Credit Check (with any relevant financial institutions)

FAQs
FAQs