The need to support the development of the tech entrepreneurial ecosystem with programmes intended to help start-ups scale and grow has long been an area of focus for the Caribbean region.

However, there is still some clarity required around incubators and accelerators and whether our region is approaching these support systems in the right way.

Typically, incubators assist early-stage companies by supporting innovation, idea validation, leadership, and business acumen development. Accelerators also help these companies to scale and align themselves with investors. While both programmes can provide access to funding, it is typically at an acceleration stage that most companies successfully attract the kind of money needed to solve problems at scale (Bone, Allen et al, 2017).

Over the years, we have seen variations of these programmes introduced to the region. One or two have survived and helped launch successful businesses. Others, despite funding, have failed to deliver on their mandates adequately.

The approaches we’ve seen include public-private partnerships, private entities, and non-profit to include university-based programmes like that at University of Technology, Jamaica (Utech) and the public-private effort through Start-up Jamaica. While programmes similar to these are necessary for the tech ecosystem to thrive, the question of whether we have enough or the right blend of players occupying the tech-focused areas remains.

Do we know whether or not the incubators and accelerators in the region adequately address the needs of tech start-ups specifically? Do we have too many eggs in the same basket? Is there any collaboration between the various groups based on the region’s size to determine if there are programmatic gaps and identify ways of addressing them to ensure that our tech entrepreneurs are getting the support they need?

It may be worthwhile to perform a comparative analysis of current initiatives and those that did not survive to better understand these questions and use a data-driven approach to craft potential future programmes. Some of the common challenges we’ve faced as a region are with tech-focused programmes specifically. Beyond training, mentorship, and business support, technology incubators and accelerators need technical expertise and access to development partners, connection to deep-pocket potential investors, and a risk appetite for tech start-ups. We need partners who can accelerate them at the velocity required to experience the success that can generate millions of US dollars in funding.

We currently have only one such focused programme, and it stands to reason there is room for others. In general, the region is ripe for this type of support and, despite mixed results, there is still hope.