Lauren Keil, Programme Manager of the VI Purpose Fund, announced the funding increase during an appearance on The Morning Facts with Cindy Rosan, revealing that the competition’s prize pool has grown from the previously announced $200,000.

“In fact, I’m excited to announce we actually just recently had a new donor come to the table and say, ‘We love this program, we want to put $50,000 additionally on the table,’” Keil said. “So we now have $250,000 to give out. This is the first time we’re publicly announcing it.”

The Impact Challenge is a flagship initiative of the VI Purpose Fund, which supports Virgin Islands entrepreneurs developing businesses that promote environmental sustainability while strengthening the local economy. The program is entering its second year after supporting two winning ventures in 2025 — BlockWorks VI and Report the Reef.

Keil said this year’s competition focuses on projects that contribute to ocean health and environmental resilience, but stressed that eligibility extends beyond businesses operating directly on the water.

“Before you think, ‘Oh, my business isn’t directly related to the ocean,’ there are so many land-based businesses that affect the ocean’s health,” she said.

The challenge is seeking applications in six priority areas, including sustainable fisheries, food sovereignty, carbon reduction, sargassum management, recycling and circular economy initiatives.

“Any business that is replacing a product that we import regularly with a locally manufactured product has a reduction of carbon emissions linked to it,” Keil said. “Any farming business that is really building our resilience and making us a stronger food sovereign nation is also eligible.”

She added that entrepreneurs developing solutions for sargassum seaweed blooms are encouraged to apply.

“We all know the problems of sargassum seaweed blooms that we receive, but there are entrepreneurs in other countries that have found viable business solutions to sargassum problems,” Keil said.

According to Unite BVI, businesses addressing sustainable fisheries, regenerative aquaculture, ocean-linked food production, marine restoration, waste reduction, recycling and import substitution are among those being targeted through the competition.

Applications opened on April 2 and will remain open until June 10. Keil said entrepreneurs do not need a trade licence when submitting their initial application but must obtain one before advancing to the final stages of the competition.

“We encourage entrepreneurs who don’t have trade licences but want to apply, please apply for your trade licence,” she said.

Last year’s inaugural challenge attracted 47 applications.

“We had 47 applications last year, which for an inaugural business competition we thought was really great,” Keil said. “This year we’re hoping for three or four times that. That is the dream, and we have a lot of interest.”

The selection process will narrow applicants to six finalists who will pitch their business ideas before judges including Sir Richard Branson and Rick Kearney.

“The judges can choose to give all $250,000 to one outstanding entrepreneur or divide it among multiple businesses, depending on the strength of the applications,” Keil explained.

In addition to funding, successful applicants will receive a year of business incubation and acceleration support.

“At Unite BVI, we commit to the winners of the Impact Challenge by giving them a full year of business incubation and acceleration support services,” Keil said. “We build a bespoke team around them to really support them and give them every chance to succeed.”

The VI Purpose Fund was established to support businesses that strengthen economic resilience while protecting the Virgin Islands’ natural environment. Unite BVI officials have said the initiative is designed to encourage local innovation and develop solutions with both environmental and commercial benefits.

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Speaking on The Morning Facts with Cindy Rosan on May 21, Vanterpool said the project, which was developed during his tenure as minister responsible for ports, has proven its worth through increased visitor arrivals, economic activity and revenue generation.

“The port got value for money,” Vanterpool said, citing independent evaluations conducted after construction was completed.

The Cruise Pier Development Project, which opened in 2015, expanded the territory’s capacity to accommodate large cruise ships and included the construction of the Tortola Pier Park commercial complex. The project became one of the most debated public infrastructure developments in Virgin Islands history after its cost rose beyond original estimates and questions were raised about procurement and oversight.

Vanterpool rejected suggestions that the project failed to justify its final cost, arguing that changes made during construction were necessary to create a more resilient and functional facility.

According to Vanterpool, the original proposal would not have adequately accommodated modern cruise vessels and included structures that would have been less resistant to hurricanes. He said the decision was made to redesign elements of the project, including constructing reinforced concrete and steel buildings and expanding docking capacity.

“We decided we were going to build a dock that can hold two ships that are there now,” he said.

Vanterpool said independent assessments commissioned after completion concluded that the project represented value for money and generated substantial economic returns for the Territory through tourism-related spending.

“The estimated benefit to the territory in terms of gross domestic product was over $100 million that the cruise pier would produce every year,” he said.

He also noted that the financing used to construct the facility is nearing repayment.

“I am very pleased with the cruise pier,” Vanterpool said.

While defending the development, Vanterpool argued that additional investment is needed to maximize the potential of the waterfront district. He revealed that he recently discussed new development concepts for the area, including the possibility of constructing hotel accommodations near the cruise pier.

Among the ideas he said have been proposed is a twin-tower hotel development on opposite sides of the waterfront, including one tower near the cruise pier and another in the Village Cay area.

“I prefer to build eventually what they call a tower hotel,” Vanterpool said, adding that he recently shared the concept with officials involved in discussions about the future of the area.

The proposal, he said, would build on existing tourism infrastructure and create additional accommodations within walking distance of the cruise terminal and Road Town’s commercial district.

Vanterpool said the Cruise Pier Development Project should ultimately be evaluated by its long-term economic contribution to the Virgin Islands rather than the political controversy that surrounded its construction.

“Are the constituents of the territory, the residents, benefiting economically from it? Yes,” he said. “The loan that we borrowed to build it is almost finished, and the territory continues to benefit from it.”

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Speaking on his Honestly Speaking radio programme on May 19, Skelton Cline said the territory should explore mechanisms to lock in fuel prices amid continued volatility in global energy markets and mounting concerns over the cost of living.

“There’s no reason why we should not be locking in fuel prices,” Skelton Cline said. “We have $120 million in reserve.”

His comments come as residents continue to face higher electricity bills, fuel surcharges and transportation costs, issues he said are affecting families, businesses and the broader economy.

Skelton Cline acknowledged the government’s recent decision to allocate funding to help offset electricity costs but questioned whether additional measures may be needed to shield consumers from future increases.

“There’s going to be a serious monopoly and a further suffocation of this country,” he said while discussing fuel supply and pricing concerns. “We have to start planning. This thing is going to get more and more out of hand.”

The radio host argued that reserve funds could potentially be used to secure more predictable fuel pricing arrangements, although he did not outline a specific policy proposal. He suggested that government officials begin discussions on contingency plans before economic pressures worsen.

“We need to begin to think and talk and lay out a plan,” Skelton Cline said. “The most dangerous place for you to be is to be unprepared.”

The Virgin Islands remains heavily dependent on imported fuel and energy supplies, making the territory vulnerable to fluctuations in global oil prices and shipping costs. Higher fuel prices have also contributed to increased operating expenses for businesses and higher utility bills for consumers.

Skelton Cline said the territory’s dependence on imports leaves residents exposed to external economic shocks and called for greater long-term planning to strengthen economic resilience.

“How many times do I have to come to this microphone and say it?” he asked. “The most dangerous position for a person, a family, a community or a country is to be unprepared.”

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The initiative, powered by the VI Purpose Fund, is an annual competition aimed at identifying and scaling ventures that address environmental challenges while contributing to economic development in the territory.

Applications opened April 2, with the program targeting businesses that demonstrate commercial viability, measurable environmental impact and potential for growth.

Organizers said the challenge comes at a time of increasing concern about the condition of global marine ecosystems. A recent Planetary Health Check report by the Potsdam Institute for Climate Impact Research found that the ocean has crossed key environmental thresholds, placing marine systems under significant strain.

For the Virgin Islands, where the economy and way of life are closely tied to the ocean, the implications are immediate. Rising ocean temperatures, acidification and environmental degradation pose risks to fisheries, tourism and long-term economic stability.

Lauren Keil, programme manager for the VI Purpose Fund, said the initiative is intended to position the territory as a source of solutions.

“This global crisis presents a powerful local opportunity,” Keil said. “The BVI is uniquely positioned to develop and scale solutions that both restore ocean health and create sustainable economic pathways.”

Sir Richard Branson, a supporter of the fund and a judge in the competition, said small island economies can play a significant role in addressing global environmental challenges.

“Some of the world’s boldest ideas come from small islands,” Branson said. “The VI Purpose Fund is an invitation for entrepreneurs to step up and create real solutions that can have a ripple effect far beyond the BVI.”

Rick Kearney, co-founder of the VI Purpose Fund, said the program is designed to support entrepreneurs seeking both financial backing and business development support.

“This is an opportunity for creative and committed entrepreneurs to receive financial and business support to make a difference in the lives of their family, the community and the planet,” Kearney said.

Kim Takeuchi, executive director of Unite BVI, said the initiative reflects the territory’s dependence on the marine environment.

“The sea makes up 90 percent of the Virgin Islands,” Takeuchi said. “By protecting these waters now, we secure long-term sustainability for future generations.”

The challenge prioritizes ventures that integrate ocean protection into business models while creating jobs, strengthening supply chains and reducing dependence on imports. Focus areas include sustainable fisheries, regenerative aquaculture, waste reduction, recycling and reuse systems, coastal restoration, and solutions related to sargassum management.

Selected applicants will receive funding along with structured incubation and acceleration support to help develop scalable enterprises.

The application process will be conducted in phases. Initial assessments are due by June 10, followed by detailed submissions between July 1 and Aug. 25. Six finalists will be selected on Oct. 13 and invited to participate in a final pitch event on Necker Island in early November, where winners will be chosen.

Applicants must be at least 18 years old and hold a valid trade license by Aug. 25. Additional regulatory approvals may be required depending on the nature of the business.

The VI Purpose Fund is a flagship initiative of the Unite BVI Foundation and supports ventures that combine economic development with environmental sustainability.

Organizers said the challenge is intended to encourage entrepreneurs to develop solutions that address both local and global environmental concerns while building resilient businesses within the territory.

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Speaking during a national address on April 16, Wheatley said the government will reduce the wharfage fee on incoming cargo from 2 percent to 1 percent and cut container charges from $300 to $150 for a three-month period beginning in May.

The measures are intended to lower the cost of importing goods into the territory, as global fuel price increases and supply chain disruptions continue to drive up shipping expenses.

Officials said the reductions are designed to relieve financial pressure on businesses and help limit the extent to which higher import costs are passed on to consumers, contributing to broader efforts to control inflation.

“These actions will lessen financial strain on businesses, support price stabilization, and limit price increases for consumers,” Wheatley said.

The announcement comes as small island economies such as the Virgin Islands face heightened vulnerability to external economic shocks due to their reliance on imported goods. Rising transportation and freight costs have been a key driver of inflation across the region in recent months.

The government said the port fee reductions will work alongside other measures, including adjustments to import duties and targeted subsidies, to create a coordinated response to the increasing cost of living.

Wheatley also acknowledged the role of key agencies in implementing the initiative, including Minister of Communications Kye Rymer, Chairman of the BVI Ports Authority Dion Stoutt, and Acting Managing Director Dean Fahie, along with their respective teams.

The concessions are expected to take effect in May, pending administrative and procedural arrangements.

Officials said the temporary reductions will be closely monitored, with the possibility of further adjustments depending on global economic conditions and their impact on the territory.

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Premier Dr. Hon. Natalio D. Wheatley announced during a national address on April 16 that legislative amendments are being prepared to bring the Consumer Protection Act into force, alongside new regulations aimed at monitoring and controlling prices on essential goods.

The move comes as global disruptions to energy markets and supply chains continue to drive up the cost of imported goods, placing additional strain on households and raising concerns about pricing practices within the local market.

“These amendments will also allow the Consumer Protection Act to come into force, providing a comprehensive framework to protect consumers from price gouging and other anti-consumer practices,” Wheatley said.

The planned measures are expected to introduce formal mechanisms for price regulation, particularly tied to the government’s proposed “basket of goods” initiative, which targets essential food and household items. Officials said the framework will allow authorities to intervene where necessary to prevent excessive markups and ensure that relief measures translate into actual savings for consumers.

Consumer protection legislation has been under discussion in the territory for several years but has not been fully implemented. The renewed push reflects growing urgency as inflationary pressures intensify and the cost of basic goods continues to rise.

Economists note that small island economies such as the Virgin Islands are especially vulnerable to price shocks due to their reliance on imports, limited market size and exposure to global supply chain disruptions. In such environments, regulatory oversight is often used to prevent market distortions and protect consumers during periods of economic volatility.

The government’s approach also places responsibility on the private sector to align with broader economic relief efforts. Wheatley urged businesses to pass on savings from reduced duties and fees to consumers, warning that the effectiveness of government intervention depends in part on cooperation from retailers and suppliers.

The activation of the Consumer Protection Act is expected to strengthen enforcement capabilities, including the ability to investigate complaints, regulate pricing practices and impose penalties for violations.

Officials said the measures will require Cabinet approval and legislative action, with implementation expected in the coming weeks.

The government indicated that additional policies may be introduced as conditions evolve, with continued monitoring of global economic developments and their impact on the territory.

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Premier Hon. Dr. Natalio D. Wheatley announced during a national address on April 16 that the government is working toward a memorandum of understanding with the Dominican Republic aimed at stabilizing supply chains and ensuring more affordable access to food.

The initiative builds on ongoing efforts by the government over the past year to establish closer trade ties with the Dominican Republic. In early 2025, Wheatley indicated plans to lead a trade mission to the country to secure more affordable sources of food and essential goods, noting its position as one of the Caribbean’s largest agricultural producers.

At the time, the Premier said the goal was to “secure a trade relationship that can help us to lower the price of goods in the Virgin Islands,” with discussions expected to include direct engagement with Dominican Republic officials.

The government has also previously highlighted the logistical advantages of sourcing goods from the Dominican Republic, including existing shipping routes and geographic proximity, which could allow for faster and more cost-effective imports compared to more distant suppliers.

The renewed focus on the partnership comes as global disruptions to energy markets and key shipping routes continue to drive up the cost of imported goods, placing additional pressure on small island economies that depend heavily on external suppliers.

Wheatley said the agreement is intended to provide a more reliable and cost-effective source of food imports while reducing exposure to global price volatility.

“These efforts are intended to mitigate global price fluctuations and strengthen self-sufficiency,” he said.

The push for regional partnerships forms part of a wider strategy to improve food security in the Territory. Government officials have acknowledged that the Virgin Islands imports the majority of its food, making it vulnerable to supply chain disruptions and external shocks.

In addition to strengthening trade links, the government has been expanding support for local agriculture and exploring regional cooperation with other Caribbean countries as part of a multi-pronged approach to stabilizing food supply.

Wheatley has previously stated that while full self-sufficiency is not feasible, improving access to regional markets and increasing local production are critical to building long-term resilience.

The government indicated that further details on the proposed agreement with the Dominican Republic will be provided as discussions progress.

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The measures were outlined during a national address on Thursday, April 16, at 9 a.m., where the Premier detailed the Government’s response to what he described as escalating global pressures affecting the Territory’s economy.

Wheatley said increasing fuel prices, freight costs and the price of essential goods are already affecting households and businesses across the Virgin Islands. The measures, he said, are intended to stabilize prices, reduce financial pressure and protect vulnerable residents.

“Although we cannot control these external shocks, their repercussions are felt by every household and business in our Territory,” Wheatley said.

Global energy markets have experienced volatility in recent months, particularly due to geopolitical tensions affecting key shipping routes such as the Strait of Hormuz, a critical corridor for global oil supply. These disruptions have contributed to higher fuel and transportation costs worldwide, with small island economies like the Virgin Islands particularly vulnerable due to their reliance on imports.

In response, the Government established a technical working group shortly after the escalation of the conflict in late February. The group, led by the Ministry of Financial Services, Economic Development and Digital Transformation, includes representatives from the Ministry of Finance, Ministry of Tourism, HM Customs, the BVI Ports Authority, the BVI Electricity Corporation and the Central Statistical Office.

According to Wheatley, the group has been tasked with monitoring developments, engaging stakeholders and recommending policy responses to mitigate the impact of rising costs.

Among the measures announced is a $1 million monthly subsidy for electricity over a three-month period. The Premier said that without intervention, electricity bills could have increased by as much as 50 percent on average.

“This step is designed to lower electricity costs for both households and businesses right away,” he said.

The Government will also adjust how import duties are calculated by shifting from a Cost, Insurance and Freight (CIF) model to a Free-on-Board (FOB) system for three months beginning in May. Under the revised approach, duties will apply only to the value of goods, excluding shipping and insurance costs.

Officials said the change is expected to reduce the landed cost of imported goods and help stabilize prices, particularly for essential items.

Additional measures include a reduction in port-related fees, with wharfage on incoming cargo lowered from 2 percent to 1 percent and container charges reduced from $300 to $150 for the same three-month period. The Government said these steps are intended to ease pressure on businesses and limit the extent to which increased costs are passed on to consumers.

Wheatley also announced the introduction of a “basket of goods” initiative, which will provide further duty reductions on essential items to ensure continued access to basic necessities, particularly for vulnerable groups.

To strengthen consumer protections, the Government plans to introduce amendments to the Consumer Protection Act and implement regulations to address price gouging and other anti-consumer practices.

The Premier said the Government has engaged with the business community, including a recent meeting to gather feedback and secure cooperation in implementing the measures.

“We encourage businesses to pass on these savings to consumers,” he said.

In addition to immediate interventions, the Government is advancing longer-term strategies to improve food security and reduce reliance on imports. These include a proposed memorandum of understanding with the Dominican Republic, increased support for local agriculture and fisheries, and efforts to expand domestic food production capacity.

The measures remain subject to Cabinet approval and legislative processes, with implementation expected to begin in May. The Government also indicated that supplementary budget adjustments may be required.

“We will keep monitoring international developments and adjust our plans as needed,” Wheatley said.

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The second day of the event unfolded as a community gathering, with families moving between animal displays, food stalls and activities designed to bring the Territory’s agriculture and fisheries sector to life. Nearby, pigs rolled in the mud, while cages of parakeets and small animals drew steady attention from younger visitors.

Bouncy castles, games and competitions kept children occupied throughout the day, including a greased pig contest and other scheduled activities. Market vendors displayed baskets of locally grown produce — from eggplant to seasoning crops — alongside handmade crafts, while the scent of roasted corn and traditional dishes filled the air.

Live performances, including steel pan music, dance and cultural showcases, continued into the afternoon, alongside demonstrations and competitions such as watermelon and hot dog eating contests, reflecting both the agricultural focus and cultural character of the event.

The public activities followed the official opening ceremony held a day earlier on Friday, April 10, at the Eileene L. Parsons Auditorium at H. Lavity Stoutt Community College, where farmers and fishers from across the Virgin Islands were formally recognized for their contributions to the sector.

Awards were presented by Premier and Minister responsible for Agriculture and Fisheries, Honourable Dr. Natalio D. Wheatley, to recipients including Moviene Fahie, Ghansam Singh, Wilbert “Isha” Chinnery, Henrietta Wheatley, Bryan Hodge, Godwin Callwood, Daniel Cline, Eldon Young, Jahnai Caul, Adam Turbe, Kareem Rivera, Elton Gordon, Dean Soares and Ishmael Michael Collins.

In remarks at the ceremony, Dr. Wheatley said the exhibition reflects both the Territory’s heritage and its future direction.

“This year’s theme, ‘Farming the Land, Fishing the Seas, Nourishing Lives and Legacies,’ speaks directly to who we are as Virgin Islanders,” he said. “It reminds us that the work of producing food is not only an economic activity — it is a cultural inheritance, a source of pride, and a foundation for our resilience as a people.”

He said the displays throughout the exhibition demonstrate the Territory’s capacity to strengthen local food production.

“These displays are more than exhibits; they are evidence of our capability, our creativity, and our potential to feed ourselves,” the Premier said.

Dr. Wheatley also outlined government initiatives aimed at expanding the sector, including land allocation at Paraquita Bay, development of an agriculture and fisheries complex, and a fisheries landing site at the Omar Wallace Hodge Fishermen’s Wharf. He further announced that 35 farmers and fishers were approved in the first round of the Agriculture and Fisheries Grant Programme, receiving a combined $388,826.66 from 143 applications.

“I encourage families, restaurants, and businesses across the Territory to buy local and eat local,” he said.

Acting Permanent Secretary in the Premier’s Office, Dr. Lavon Chalwell-Brewley, said the event highlights the people behind the sector.

“Today, we pause to not only celebrate produce, products, and progress — but most importantly, to celebrate people,” she said.

The Agriculture and Fisheries Exhibition and Market continues through April 12, combining public engagement with efforts to strengthen awareness of agriculture and fisheries across the Virgin Islands.

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Speaking on the March 31 edition of Honestly Speaking, Claude Skelton-Cline questioned whether authorities should continue enforcing laws that may be unreasonable or outdated.

“Should we be enforcing an unjust and unreasonable piece of law that’s on the books against our own people?” he asked.

He said individuals attempting to earn a living are being subjected to legal penalties that may not reflect the realities of local livelihoods.

“These guys are out there making a living… these are people we know,” he said.

Skelton-Cline also pointed to the financial and personal impact of such cases, including legal costs and time spent in detention.

“People gotta be arrested… sit in some hole… be harassed now through a court, spend money,” he said.

He called for greater public discussion about whether certain laws should be reviewed or reformed.

“There’s some laws that just ain’t fair and don’t make sense,” he said.

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