CASTRIES, St. Lucia, CMC -The Organisation of Eastern Caribbean States (OECS) Commission has welcomed the involvement of the Barbados-based Caribbean Community (CARICOM) Development Fund (CDF) in this year’s edition of the OECS Global Startup Hub.
It said the partnership will create the opportunity for ten entrepreneurs who qualify to attend the Draper University five-week Hero Training Program in Silicon Valley, in the United States.
“As the entrepreneurial landscape in the OECS continues to evolve, the OECS Commission recognizes the critical role of fostering innovation, building capacity, and driving economic growth in entrepreneurship. Through this collaboration with the CDF, a partner with shared values of transforming the entrepreneurial ecosystem, the OECS Global Startup Hub will drive innovative solutions in the region,” the Commission said in a statement.
OECS Director General Dr. Didacus Jules said the agreement between the OECS and the CARICOM Development Fund represents a pivotal step in bolstering regional entrepreneurship.
“For the OECS, this grant is an investment in the potential and dreams of our region’s most talented entrepreneurs. It is an avenue to convert their innovative ideas into tangible impacts, ultimately paving the way for a more prosperous and dynamic Eastern Caribbean,” he added.
One of the CDF’s focus areas is small and medium enterprise development in the Caribbean and contributing to “reducing intra-regional disparities through effective partnerships.”
The Commission said that the CDF’s undisclosed contribution to the OECS Global Startup Hub is a testament to its commitment to closing existing gaps in entrepreneurship across the region.
CDF chief executive officer Rodinald Soomer said the CDF is delighted to partner with the OECS in support of the OECS Global Startup Hub, “the aim of which is to provide young entrepreneurs across various sectors with the opportunity to gain a firsthand understanding of early-stage and innovation development while fostering collaboration with potential investors and partners, globally.
“We believe that supporting entrepreneurship and innovation in the OECS will help to cultivate a culture of resilience, creativity, and adaptability, and we are delighted to make this investment in the Caribbean’s collective future, which will ultimately foster job creation, technological advancement, and a thriving OECS and wider CARICOM economy,” Soomer added.
The OECS Commission said that the application period for the 2024 OECS Global Startup Hub remains open until January 31 and that technology and technology-enabled MSMEs in the OECS are invited to apply, and up to 150 successful candidates will be accepted to participate in the free, two-week Virtual Accelerator Programme.
“Participants from this program will also get a chance to move onto a second immersion experience in Silicon Valley for the Draper University Hero Training Programme,” it added.
The OECS groups the islands of Antigua and Barbuda, Dominica, Grenada, St. Lucia, St. Vincent and the Grenadines, St. Kitts-Nevis, Montserrat, Anguilla, and the British Virgin Islands.
The Commission said that startups from these countries must have high growth potential, with scalable ideas, and operate in the technology industry or other industries interested in introducing technology to scale their business operations.
“Entrepreneurs with tech-based and tech-enabled startups less than five years in operation are strongly encouraged to apply,” it added.
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