New tech entrepreneurs for Start-Up Jamaica this month
Ac c e l e r a t o r programme Start- Up Jamaica will host another 60 young technology entrepreneurs from the Caribbean region seeking funds for the development of their software-based solutions.
From November 9 to 13, Start-Up Jamaica will begin its second boot camp where young tech entrepreneurs from around the Caribbean will participate in a five-day workshop with representatives from Devlabs — a network of technology entrepreneurs based in C a l i f o r n i a , USA — and Jordan-based investment company Oasis500.
Start-Up Jamaica welcomes potential entreprenuers in the areas of digital media, mobile technologies, ICT and digital content.
During the launch of the programme last year, the Government and the World Bank signed a deal with Oasis500 for investment of up to US$30,000 in as many as 10 tech entrepreneurs under the Youth Employment in Digital and Creative Industries project.
In March, three local startups — RevoFarm, CrimeBot, and the Vinelist — were selected to benefit from the investment, which came in the form of cash, mentorship and training, along with other business support under a 100-day initiative in the Middle East.
In exchange, Oasis500 was allowed up to 20 per cent stake in each start-up. The objective for this year’s boot camp is to focus on taking the young entrepreneurs through a series of key knowledge areas, including lean startup, business canvas model, pitching, product develop, and minimum viable product.
At the end of the camp, 15 teams will move on to the Start-Up Jamaica Accelerator Programme where they will undergo six months of mentorship and peer collaboration.
The accelerator will provide the start-ups with the key skills as well as technology, business, management, legal and accounting support, which will prepare them to pitch to equity investors (angels or venture capitalists) and receive investments to grow their businesses.
Start-Up Jamaica is a strategy designed to help innovators and entrepreneurs in Jamaica and the wider Caribbean grow their ideas into marketable products and services, thus contributing to economic growth, increasing employment, and generating foreign exchange.
