KINGSTOWN, Jamaica, CMC – The Barbados-based Caribbean Development Bank (CDB) and the region’s first virtual business incubator have launched the second phase of a two-year initiative aimed at creating jobs, scaling startups, and strengthening innovation across the region.
They stated that the second phase of the RevUP Caribbean Incubation Program will build on the success of the first phase and support at least 60 early-stage companies through business training, mentorship, technology support, and enhanced access to financing.
“The bank is proud to collaborate with RevUP to unlock Caribbean entrepreneurial potential,” said Lisa Harding, who heads the CDB’s Private Sector Division.
“We envision a future with stronger Micro, Small, and Medium-Sized Enterprises (MSMEs), aligned with CDB’s commitment to fostering private sector growth, driving innovation, building climate resilience, and ensuring equitable access to financing.”
Harry “Tomi” Davies, Chairman of RevUP Caribbean Limited, stated that the second phase represents a strategic expansion of the mission to empower Caribbean entrepreneurs.
“With partners like CDB, the Development Bank of Jamaica, the Caribbean Climate Smart Accelerator, and Caribbean Export, we are driving sustainable and inclusive growth,” he said.
Phase II introduces partnerships with CCSA and Caribbean Export, a Barbados-based organization, in collaboration with the CDB, noting that these collaborations will aid in producing climate-smart and export-oriented firms.
It said that while partnerships with European incubators and accelerators under the EU-LAC Innovation Cooperation Initiative will also expand the Caribbean startups’ global networks, the RevUP Caribbean programme will continue to leverage FirstAngels Caribbean and other investor networks, helping entrepreneurs connect with angel investors, commercial banks, and venture capital firms.
Among the key features of the second phase will be engaging high-potential, women-led, and climate-smart ventures, tailoring training to improve investment readiness and operational efficiency, as well as providing guidance from regional and international coaches and pitching opportunities to unlock growth capital.
“With strong governance and global partnerships, Phase II of the RevUP Caribbean Incubation Programme is set to equip Caribbean entrepreneurs with the tools, capital, and networks to build resilient, high-growth businesses that create jobs and transform regional economies,” the CDB added.
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