EPIC at a glance Here are the three main components: Supporting and expanding the Caribbean Network of Business Incubators (CBIA) through strengthening its operations, developing new business incubators and facilitating an incubator manager exchange programme.
“This competition was focused on web or mobile business products or services, so we’re seeing a pretty broad range – definitely some mobile apps and web-based apps. Some are focused on learning, some are focused on health, data storage – there’s a really good variety,” she said.
Providing job-related skills upgrading for incubator managers and resources for policymakers, especially in the areas of women-managed and clean technology MSMEs. This will also include an annual conference on entrepreneurship and incubation in the Caribbean to convene stakeholders and facilitate networking.
The top 10 finalists were announced on Friday, February 1. These individuals and teams will progress to the three-week mentorship stage. “We’re working on having individuals that can work with the finalists in person in their home countries, but also connecting them with some virtual mentorship in Canada. These mentors are individuals who have run lots of businesses themselves, have lots of experience working in the Caribbean and are interested in helping new entrepreneurs grow,” explained Mannella, who has also led start up boot camps in mobile technology in Jamaica.
Developing a regional MSME seed fund to provide working capital to firms wishing to expand their operations.
One grand prize winner will be selected from the group of finalists and will travel to the InfoDev Global Forum, which will be held in South Africa from May 27 to 30, where they will get the chance to pit their idea against other contestants from around the world and impress high-profile incubation managers, angel investors and entrepreneurs. Mannella is pleased with the level of interest the PitchIT Caribbean competition has generated and the EPIC team is now taking into consideration the contestants’ suggestions to create a network to keep the momentum going. EPIC’s goal is to improve private sector competitiveness in the Caribbean by offering technical assistance in the form of advisory services, mentorship and access to infrastructure to local entrepreneurs, particularly technology-based MSMEs and those led by vulnerable groups, such as women. Part of creating this ecosystem for start ups will be establishing key partnerships with organisations in the region. Mannella could not give any specifics, but noted that working with local organisations is “definitely” a component of the programme.
22 Your Money eZine
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