MEDIA RELEASE: GLOBAL ENTREPRENEURSHIP NETWORK
STARTUP NATIONS ESTABLISH ASIA-PACIFIC EXCHANGE PROGRAMME
MEDELLÍN, COLOMBIA
16 March 2016
Seven Startup Nations are getting together to make it easy for startups to do business in the Asia Pacific region. In a meeting at the Global Entrepreneurship Congress in Medellín Colombia, the leaders agreed to “facilitate the free flow of entrepreneurs, companies and resources between these countries”.
Through the programme, startups in any of the signatory nations will be able to make a “soft landing” in any of the other countries.
Dave Moskovitz from Startup New Zealand said that the programme would help strengthen ties between New Zealand and Asia. “New Zealand’s future as a trading nation depends on forging strong ties with Asia, in addition to our more traditional markets in Europe and the US. This programme will make it easier for Kiwi startups to establish markets in this high-growth region”.
Dash Dhakshinamoorthy from Startup Malaysia said that Malaysia had a strong startup ecosystem, but would benefit from more of an outward focus. “This agreement will allow Malaysian entrepreneurs accelerate regional growth of their startups, at the same time as bringing fresh ideas from the region into Malaysia.”
The countries include India, Indonesia, Malaysia, New Zealand, Taiwan, and Thailand. The group is joined by Jamaica, and is open to more members joining.
16 March 2016
Seven Startup Nations are getting together to make it easy for startups to do business in the Asia Pacific region. In a meeting at the Global Entrepreneurship Congress in Medellín Colombia, the leaders agreed to “facilitate the free flow of entrepreneurs, companies and resources between these countries”.
Through the programme, startups in any of the signatory nations will be able to make a “soft landing” in any of the other countries.
Dave Moskovitz from Startup New Zealand said that the programme would help strengthen ties between New Zealand and Asia. “New Zealand’s future as a trading nation depends on forging strong ties with Asia, in addition to our more traditional markets in Europe and the US. This programme will make it easier for Kiwi startups to establish markets in this high-growth region”.
Dash Dhakshinamoorthy from Startup Malaysia said that Malaysia had a strong startup ecosystem, but would benefit from more of an outward focus. “This agreement will allow Malaysian entrepreneurs accelerate regional growth of their startups, at the same time as bringing fresh ideas from the region into Malaysia.”
The countries include India, Indonesia, Malaysia, New Zealand, Taiwan, and Thailand. The group is joined by Jamaica, and is open to more members joining.
Start-Up Jamaica Guides Young Technology Entrepreneurs
JIS | Feature | Dec 30 2015
The Government’s, Start-Up Jamaica, SUJ programme is helping young technology entrepreneurs to develop innovative products and services for the local and international markets.
The Government’s, Start-Up Jamaica, SUJ programme is helping young technology entrepreneurs to develop innovative products and services for the local and international markets.
Start-Up Jamaica Guides Young Technology Entrepreneurs
Minister of Science, Technology, Energy and Mining (MSTEM), Hon. Phillip Paulwell (left) and State Minister in the Ministry, Hon. Julian Robinson (second left), having a light exchange with Country Manager for Jamaica, World Bank, Galina Sotirova, at the launch of the Start-Up Jamaica (SUJ) boot camp on November 9, at the programme’s offices at the Jamaica National Building on Duke Street, Downtown, Kingston. Others (from third left) are: Information Technology Specialist for Devlabs, Sheldon Trotman; and Chief Entrepreneurship Officer (CEO) for the SUJ, Mark Hugh Sam.
The business incubator/accelerator programme, Start-Up Jamaica (SUJ), is helping young technology entrepreneurs to develop innovative products and services for the local and international markets.
An initiative of the Ministry of Science, Technology, Energy and Mining (MSTEM), the programme was launched in June 2014 and staged its first boot camp in September of the same year.
Chief Entrepreneurship Officer (CEO) of SUJ, Mark Hugh Sam, tells JIS News that the start-ups that participated in the boot camp focused on aggressive product development and sales strategies to get their business ideas to a point where the proposed product or service is commercially viable, prior to seeking investment.
“The idea is to prove the products locally and to export them globally. So, the ideas behind Start-Up Jamaica are global ideas. What we did was to modify the ideas to get them to create a minimal viable product,” he explains
For one week at the camp, representatives from the US based start-up incubator/accelerator firm, Devlabs, facilitated training sessions with the tech teams in basic business and software development.
A Memorandum of Understanding (MoU) is to be signed between the SUJ and Devlabs in 2016 to formalize the partnership.
Meanwhile, State Minister in the Ministry, Hon. Julian Robinson, says the boot camp has given rise to a number of positive developments.
“What we focused on was getting their ideas or concepts to a stage where they had something that could be sold. In fact, some of them started to sell from the boot camp. They made contact with other companies, and some partnerships were formed. It was extremely positive in terms of the outcome,” the State Minister tells JIS News...........Read more
Written By: Rochelle Williams
An initiative of the Ministry of Science, Technology, Energy and Mining (MSTEM), the programme was launched in June 2014 and staged its first boot camp in September of the same year.
Chief Entrepreneurship Officer (CEO) of SUJ, Mark Hugh Sam, tells JIS News that the start-ups that participated in the boot camp focused on aggressive product development and sales strategies to get their business ideas to a point where the proposed product or service is commercially viable, prior to seeking investment.
“The idea is to prove the products locally and to export them globally. So, the ideas behind Start-Up Jamaica are global ideas. What we did was to modify the ideas to get them to create a minimal viable product,” he explains
For one week at the camp, representatives from the US based start-up incubator/accelerator firm, Devlabs, facilitated training sessions with the tech teams in basic business and software development.
A Memorandum of Understanding (MoU) is to be signed between the SUJ and Devlabs in 2016 to formalize the partnership.
Meanwhile, State Minister in the Ministry, Hon. Julian Robinson, says the boot camp has given rise to a number of positive developments.
“What we focused on was getting their ideas or concepts to a stage where they had something that could be sold. In fact, some of them started to sell from the boot camp. They made contact with other companies, and some partnerships were formed. It was extremely positive in terms of the outcome,” the State Minister tells JIS News...........Read more
Written By: Rochelle Williams
Jamaica: A guardian angel of entrepreneurial talent in the Caribbean
With its young, creative and English-speaking population, Jamaica is making its mark on the entrepreneurial stage, especially within the digital sector. Its talented youth are already catching the eye of international investors.
This week, 60 young entrepreneurs from across the Caribbean will take part in an intensive five-day workshop on the reality of being an entrepreneur, put on by the San Francisco start-up investment fund.
But with thousands of inspiring start-ups cramming the steep streets of San Francisco, why are they so interested in investing in Jamaican youth?
We asked DevLabs CEO, Rubén Hernández, to outline his reasons for boosting the hopes and dreams of these young start-ups and what attracted him specifically to the Caribbean.
"We have a group of Jamaican entrepreneurs already here in Oakland and they're not only building and expanding their business in the US, but they are also becoming an inspiration for many young people here," he explained. "It's really, really exciting because it's a two-way street."
Jamaica is a gateway to Latin America
Situated at the heart of the English-speaking Caribbean, the port of Kingston is equidistant from the port of Miami and the Panama Canal. As a result, Jamaica is an attractive proposition for those looking to bridge the lucrative markets of the North and the powerful emerging markets of the South.
Add to that mix a shared language with the world's technological powerhouses along with a workable time difference with the US west coast, and the picture is complete. The digital industry holds great employment potential for the country's talented and digitally fluent youth.
In numbers, it's estimated that up to 5,000 jobs could be created in the Caribbean by turning the region into an animation hub, and more than 4,000 youths are already e-lancing with digital enterprises in Jamaica, following the Digital Jam initiative.
"Digital technology is critical for us," affirms Julian Robinson, Minister of State in the Ministry of Science, Technology, Energy and Mining. "We have traditionally been very dependent on physical products, but we believe there is going to be a quantum shift to maximising our intellectual assets. We view the digital economy as a way to harness the creativity that exists in the country," he added.............Read more
Written by: Mary Stokes
Roundabout JA Start-up Jamaica Boot Camp
Roundabout JA | Nov 11 2015
On today’s programme, we check in on the Start-up Jamaica Boot camp.
On today’s programme, we check in on the Start-up Jamaica Boot camp.
Presenter: Vanessa Silvera
Tech Times: Start-Up Ja Hosts 60 Young Entrepreneurs From The Region
Beginning today, Start-Up Jamaica will be hosting its second boot camp, where young tech entrepreneurs from around the Caribbean will participate in five days of workshops. These workshops will be facilitated by Ruben Hernandez and Jose Lopez, cofounders of Devlabs, as well as Karim Samakie, former investment associate with Oasis500.
Devlabs is a network of technology entrepreneurs based in California, USA, that focuses on identifying entrepreneurs who are committed to using software-based solutions to solve problems that millions of people are currently facing around the world.
See full story
Devlabs is a network of technology entrepreneurs based in California, USA, that focuses on identifying entrepreneurs who are committed to using software-based solutions to solve problems that millions of people are currently facing around the world.
See full story
Herboo, Liqy Liqy and Start-Up Robot are the ones to watch- August 12, 2015
FOUNDERS of Herboo Corporation Javin Williams and Kamla Williams have been chosen as the 2015 Jamaica Observer Mogul in the Making top awardees by a panel of seven experienced judges from both entrepreneurial and corporate backgrounds.
The brother-and-sister company on Monday walked away with the Mogul in the Making trophy, along with a copy of QuickBooks accounting software, a roadside assistance kit, and an entry into the Scotiabank Vision Achiever Programme, where they will benefit from 17 weeks of business coaching.
Other prizes included a complimentary advertising package, on Flow valued at $200,000, a custom Johnnie Walker platinum package, and a cheque valued at $100,000.
A student at Northern Caribbean University, Javin Williams started the production of the organic shampoo Herboo from a scalp condition he suffered a few years ago. Last year, the duo along with fellow team members, Kemesha Maxwell and Alshadane Wright, entered the National Business Model Competition and were awarded $2 million and a space in the International Business Model Competition in Salt Lake City, Utah.
Herboo placed eighth against 42 international teams and won US$6,000 for Best International Team award.
"We are excited about winning this award and for the exposure that the Jamaica Observer has given us through this Mogul in the Making competition," Kamla Williams told the audience at the third staging of the Mogul in the Making event, held at the Jamaica Pegasus hotel on Monday.
The Jamaica Observer Mogul in the Making is aimed at promoting and revealing to the world the ideas of young Jamaicans who successfully embody the spirit of entrepreneurism, while making a positive impact on the economy.
"It's always exciting to see young entrepreneurs trying to create growth in Jamaica and the Jamaica Observer is always willing to showcase that positive energy and to assist in whatever way possible," managing director of the Jamaica Observer Danville Walker stated.
Sasha Palmer, founder of popsicle company Liqy Liqy, won the Business Journalists' award; while Winston Wilkins, founder of business compliance company Start-Up Robot, copped the People's Choice award.
All 12 nominees received complimentary advertising packages in the Jamaica Observer, specially discounted Mogul in the Making advertising packages for 2016, 50 per cent discount on six-month subscriptions, and complimentary access to the Jamaica Observer e-paper for six months.
Other nominees included the entrepreneurs behind Heal in Motion, Pandosoft, Ollunid, Sweetie Confectionery, Umium, CraziiSocks, Trendy Treat, Asherlee Naturals, and Glam Pieces by Cedella. All nine have received complimentary registration for two Branson Centre capacity-building workshops.
Written By: KARENA BENNETT- Business Observer
The brother-and-sister company on Monday walked away with the Mogul in the Making trophy, along with a copy of QuickBooks accounting software, a roadside assistance kit, and an entry into the Scotiabank Vision Achiever Programme, where they will benefit from 17 weeks of business coaching.
Other prizes included a complimentary advertising package, on Flow valued at $200,000, a custom Johnnie Walker platinum package, and a cheque valued at $100,000.
A student at Northern Caribbean University, Javin Williams started the production of the organic shampoo Herboo from a scalp condition he suffered a few years ago. Last year, the duo along with fellow team members, Kemesha Maxwell and Alshadane Wright, entered the National Business Model Competition and were awarded $2 million and a space in the International Business Model Competition in Salt Lake City, Utah.
Herboo placed eighth against 42 international teams and won US$6,000 for Best International Team award.
"We are excited about winning this award and for the exposure that the Jamaica Observer has given us through this Mogul in the Making competition," Kamla Williams told the audience at the third staging of the Mogul in the Making event, held at the Jamaica Pegasus hotel on Monday.
The Jamaica Observer Mogul in the Making is aimed at promoting and revealing to the world the ideas of young Jamaicans who successfully embody the spirit of entrepreneurism, while making a positive impact on the economy.
"It's always exciting to see young entrepreneurs trying to create growth in Jamaica and the Jamaica Observer is always willing to showcase that positive energy and to assist in whatever way possible," managing director of the Jamaica Observer Danville Walker stated.
Sasha Palmer, founder of popsicle company Liqy Liqy, won the Business Journalists' award; while Winston Wilkins, founder of business compliance company Start-Up Robot, copped the People's Choice award.
All 12 nominees received complimentary advertising packages in the Jamaica Observer, specially discounted Mogul in the Making advertising packages for 2016, 50 per cent discount on six-month subscriptions, and complimentary access to the Jamaica Observer e-paper for six months.
Other nominees included the entrepreneurs behind Heal in Motion, Pandosoft, Ollunid, Sweetie Confectionery, Umium, CraziiSocks, Trendy Treat, Asherlee Naturals, and Glam Pieces by Cedella. All nine have received complimentary registration for two Branson Centre capacity-building workshops.
Written By: KARENA BENNETT- Business Observer
New App Help Motorist Find Low-Cost Fuel - June 30,2015
KINGSTON, Jamaica (JIS) June 30, 2015 – Imagine, with just a tap of your phone, having a list of all gas stations in Jamaica, their locations, and the cheapest and most up-to-date fuel prices.
This has been made possible by young entrepreneur, Garfield Coke, through his innovation dubbed ‘Fuel Finder’, which was recently showcased at a Start-Up Jamaica exposition held in Kingston.
A must-have application (app) for drivers, Fuel Finder allows the user to find the lowest gas prices, discover stations closest to them, including those with amenities such as air pumps, tyre services, among others.
Speaking in an interview with JIS News, Coke says the creation of the app was in response to the need for Jamaicans to save money at the pumps.
“In this current time where gas prices are currently fluctuating, finding the best gas price is ideal for most persons,” he says.
He informs that the android app is available at the Google Play Store and is encouraging Jamaicans to download and use the feature.
The young entrepreneur further informs that the Fuel Finder app can assist consumers, particularly those in rural Jamaica, to find gas stations closest to them or facilities that offer 24-hour service.
“Fuel Finder allows you to view a map and see what’s around you, see all the gas stations, and (various services offered). If for example, you’re in St Elizabeth at
11:00 pm, and you want to get back to Kingston, and you don’t have enough gas, you can actually go in Fuel Finder, search for 24-hour gas stations and this will show you all the gas stations close to you that are open 24 hours,” he told JIS News.
The app also enables motorists to discover new gas stations, save their favourite gas stations for quick access, get driving directions, view price statistics to analyse trends, and share prices with family and friends.
http://www.jamaicaobserver.com/latestnews/New-app-helps-motorists-find-low-cost-fuel
This has been made possible by young entrepreneur, Garfield Coke, through his innovation dubbed ‘Fuel Finder’, which was recently showcased at a Start-Up Jamaica exposition held in Kingston.
A must-have application (app) for drivers, Fuel Finder allows the user to find the lowest gas prices, discover stations closest to them, including those with amenities such as air pumps, tyre services, among others.
Speaking in an interview with JIS News, Coke says the creation of the app was in response to the need for Jamaicans to save money at the pumps.
“In this current time where gas prices are currently fluctuating, finding the best gas price is ideal for most persons,” he says.
He informs that the android app is available at the Google Play Store and is encouraging Jamaicans to download and use the feature.
The young entrepreneur further informs that the Fuel Finder app can assist consumers, particularly those in rural Jamaica, to find gas stations closest to them or facilities that offer 24-hour service.
“Fuel Finder allows you to view a map and see what’s around you, see all the gas stations, and (various services offered). If for example, you’re in St Elizabeth at
11:00 pm, and you want to get back to Kingston, and you don’t have enough gas, you can actually go in Fuel Finder, search for 24-hour gas stations and this will show you all the gas stations close to you that are open 24 hours,” he told JIS News.
The app also enables motorists to discover new gas stations, save their favourite gas stations for quick access, get driving directions, view price statistics to analyse trends, and share prices with family and friends.
http://www.jamaicaobserver.com/latestnews/New-app-helps-motorists-find-low-cost-fuel
Three Tech Start-Ups Make Their Mark In Business Pitch To Financiers - May 29, 2015
Jamaican tech start-ups got a chance to make the perfect pitch last Thursday.
Ten entities involved in the Start-up Jamaica Programme made five-minute pitches and fielded questions about their business as they sought to convince California venture capitalists Devlabs that their idea is the next best thing in technology. Less than a third made headway.
Devlabs co-founder Ruben Hernandez says he is encouraged by what he is hearing as it reinforces Devlabs' investment philosophy that the next great technological sensation will come from evolving tech markets.
"We believe that the next billion-dollar company in the next 20 years is not coming from Silicon Valley, it's coming from places like Jamaica. So we do a long-term investment in the people because we believe that many of the talented individuals here are undervalued," Hernandez said.
Devlabs is eyeing support for at least three of the 10 pitches - Smart Farm, a software-driven monitoring and maintenance system designed initially for greenhouses, developed by team Oldane Graham, Davian Anderson, Sean Miller and Bruce McKenzie; Jamaican Care Packages, created by Rory Walker; and Pantrypan, an online wholesale club that allows shoppers to pool for savings, created by Rafer Johnson, Horace Cunningham, Adrian Adman and Aldon Palmer.
Hernandez says it is now up to the techies behind the start-ups to persist with the development of their products and take advantage of the channels that have been opened for them.
He explained that Devlabs is in a constant search for technology start-ups that have a good idea bolstered by entrepreneurial drive. They then support these start-ups through access to funding, infrastructure and the networks necessary. Devlabs is eyeing Jamaica as a focal point, he said.
"Our strategy is to do a lot of exchange - entrepreneurs coming from the United States to an Anglophone country - so we see Jamaica as a possible hub of operations in the Caribbean for our model and our way of investing in people," Hernandez said.
The other seven pitches were by social shopping platform Vinelist, student management systems start-up iSims, games developers Pandosoft, DaiMangou and Working Enigma, job-seeking tool outfit Seek, along with medical and health-care services platform JaApps Medical.
The team from Devlabs met with the start-ups as part of a four-day working visit. They were also scheduled to meet with technological start-ups, angel investors and other venture capitalists, in addition to members of the banking community and government officials.
State minister in the Ministry of Science, Technology, Energy and Mining, Julian Robinson, said Devlabs recently established offices in Chile and is exploring the possibility of setting up an office in Jamaica.
Written by: Neville Graham
http://jamaica-gleaner.com/article/business/20150529/three-tech-start-ups-make-their-mark-business-pitch-financiers
Ten entities involved in the Start-up Jamaica Programme made five-minute pitches and fielded questions about their business as they sought to convince California venture capitalists Devlabs that their idea is the next best thing in technology. Less than a third made headway.
Devlabs co-founder Ruben Hernandez says he is encouraged by what he is hearing as it reinforces Devlabs' investment philosophy that the next great technological sensation will come from evolving tech markets.
"We believe that the next billion-dollar company in the next 20 years is not coming from Silicon Valley, it's coming from places like Jamaica. So we do a long-term investment in the people because we believe that many of the talented individuals here are undervalued," Hernandez said.
Devlabs is eyeing support for at least three of the 10 pitches - Smart Farm, a software-driven monitoring and maintenance system designed initially for greenhouses, developed by team Oldane Graham, Davian Anderson, Sean Miller and Bruce McKenzie; Jamaican Care Packages, created by Rory Walker; and Pantrypan, an online wholesale club that allows shoppers to pool for savings, created by Rafer Johnson, Horace Cunningham, Adrian Adman and Aldon Palmer.
Hernandez says it is now up to the techies behind the start-ups to persist with the development of their products and take advantage of the channels that have been opened for them.
He explained that Devlabs is in a constant search for technology start-ups that have a good idea bolstered by entrepreneurial drive. They then support these start-ups through access to funding, infrastructure and the networks necessary. Devlabs is eyeing Jamaica as a focal point, he said.
"Our strategy is to do a lot of exchange - entrepreneurs coming from the United States to an Anglophone country - so we see Jamaica as a possible hub of operations in the Caribbean for our model and our way of investing in people," Hernandez said.
The other seven pitches were by social shopping platform Vinelist, student management systems start-up iSims, games developers Pandosoft, DaiMangou and Working Enigma, job-seeking tool outfit Seek, along with medical and health-care services platform JaApps Medical.
The team from Devlabs met with the start-ups as part of a four-day working visit. They were also scheduled to meet with technological start-ups, angel investors and other venture capitalists, in addition to members of the banking community and government officials.
State minister in the Ministry of Science, Technology, Energy and Mining, Julian Robinson, said Devlabs recently established offices in Chile and is exploring the possibility of setting up an office in Jamaica.
Written by: Neville Graham
http://jamaica-gleaner.com/article/business/20150529/three-tech-start-ups-make-their-mark-business-pitch-financiers
Govt Looking to Source Funding for Technology Startups
The Ministry of Science, Technology, Energy, and Mining is in talks with several potential investors to provide funding and business development support for young technology innovators and entrepreneurs benefitting under Start-Up Jamaica (SUJ).
State Minister, Hon. Julian Robinson, said the Government is looking to partner with these investors in order to provide the budding entrepreneurs with a “broad range of choices” which they can approach for support.
He was speaking at a pitch session held on Thursday (May 21), at SUJ’s downtown Kingston offices, for 10 of the 19 business start-ups currently operating out of the facility.
The session provided the entrepreneurs with the opportunity to make presentations to representatives of American technology investment group, Devlabs, which is among the investors being courted by the Ministry.
The Government has already partnered with Jordanian entity, Oasis500, which committed to providing US$30,000 to each of the start-ups currently in operation.
This provision is a combination of 50 per cent cash, with the remainder representing mentorship, training, and other business support, both in Jamaica and at Oasis500’s facility in Jordan’s capital, Amman.
While noting that the provision of financing is key, Mr. Robinson said, “more importantly, we want to build their (entrepreneurs) capabilities, so that people, who have (gained) international exposure, can come back here and share those ideas.”
“A lot of what these (fledgling entrepreneurs) need is not just money…but mentorship and guidance and in particular, international exposure,” he noted.
In that regard, Mr. Robinson said the partnership being pursued with Devlabs will be a “good fit.”
“If they (have an interest) in a company, they would invite them over to their facilities in California, they would spend some time there, (and on their return), continue to work and build their products,” he explained.
Mr. Robinson said he is “happy” with the level OF progress being made by the 19 entities, based on the extent of work carried out to date. The 19 were shortlisted from nearly 220 applicants to SUJ in July 2014.
“Some of (them) have actually established legal entities…they are actually earning revenues (and)…some of them have hired people,” he informed.
Mr. Robinson said it is anticipated that the entities currently operating out of the accelerator will “continue to grow…start earning revenues… (and) employ (more) people.”
Further that “more tech entrepreneurs will see Start-Up Jamaica as the home for their (business) development, and will want to come here,” he noted.
For his part, Devlabs co-founder, Ruben Hernandez, said based on Thursday’s presentations, he is, encouraged, and feels “positive” about the possibility of his firm’s input in Jamaica.
He said he is also impressed with the extent of work to develop the ecosystem for venture capital investment within the Start-Up Jamaica programme,
Mr. Hernandez said Devlabs is “very focused” on identifying teams with the talent and potential that would see them being invited to spend time at the entity’s facilities in California.
“So, we are working with the universities here to help us…(and) we are going to continue interviewing, looking at pitches, and looking at potential teams that can be investable in the future,” he informed.
The World Bank is a key partner in SUJ, and the international institution’s Senior Social Development Specialist in Jamaica, Fabio Pittaluga, also commended the work of the entrepreneurs operating out of the accelerator facility.
“I think it’s an incredible job (that) you…are doing. You may not be at the point of breaking the millions (in earning), but you have got to start somewhere; and so, it’s very encouraging,” he said.
Mr. Pittaluga also welcomed the partnership being pursued with Devlabs, pointing out that “it’s really important to have these connections with other entities, and it’s very important for the visibility, also, of Jamaica, and of the Jamaican tech entrepreneurship ecosystem, to really stand out.”
Start-up Jamaica is a five-year private/public sector initiative that will provide business support for young innovators and entrepreneurs to grow their ideas into marketable products and services, thus contributing to economic growth, increasing employment, and generating foreign exchange.
It is expected to attract a significant number of young persons, who can be inspired to create their own start-ups, particularly in technology development
State Minister, Hon. Julian Robinson, said the Government is looking to partner with these investors in order to provide the budding entrepreneurs with a “broad range of choices” which they can approach for support.
He was speaking at a pitch session held on Thursday (May 21), at SUJ’s downtown Kingston offices, for 10 of the 19 business start-ups currently operating out of the facility.
The session provided the entrepreneurs with the opportunity to make presentations to representatives of American technology investment group, Devlabs, which is among the investors being courted by the Ministry.
The Government has already partnered with Jordanian entity, Oasis500, which committed to providing US$30,000 to each of the start-ups currently in operation.
This provision is a combination of 50 per cent cash, with the remainder representing mentorship, training, and other business support, both in Jamaica and at Oasis500’s facility in Jordan’s capital, Amman.
While noting that the provision of financing is key, Mr. Robinson said, “more importantly, we want to build their (entrepreneurs) capabilities, so that people, who have (gained) international exposure, can come back here and share those ideas.”
“A lot of what these (fledgling entrepreneurs) need is not just money…but mentorship and guidance and in particular, international exposure,” he noted.
In that regard, Mr. Robinson said the partnership being pursued with Devlabs will be a “good fit.”
“If they (have an interest) in a company, they would invite them over to their facilities in California, they would spend some time there, (and on their return), continue to work and build their products,” he explained.
Mr. Robinson said he is “happy” with the level OF progress being made by the 19 entities, based on the extent of work carried out to date. The 19 were shortlisted from nearly 220 applicants to SUJ in July 2014.
“Some of (them) have actually established legal entities…they are actually earning revenues (and)…some of them have hired people,” he informed.
Mr. Robinson said it is anticipated that the entities currently operating out of the accelerator will “continue to grow…start earning revenues… (and) employ (more) people.”
Further that “more tech entrepreneurs will see Start-Up Jamaica as the home for their (business) development, and will want to come here,” he noted.
For his part, Devlabs co-founder, Ruben Hernandez, said based on Thursday’s presentations, he is, encouraged, and feels “positive” about the possibility of his firm’s input in Jamaica.
He said he is also impressed with the extent of work to develop the ecosystem for venture capital investment within the Start-Up Jamaica programme,
Mr. Hernandez said Devlabs is “very focused” on identifying teams with the talent and potential that would see them being invited to spend time at the entity’s facilities in California.
“So, we are working with the universities here to help us…(and) we are going to continue interviewing, looking at pitches, and looking at potential teams that can be investable in the future,” he informed.
The World Bank is a key partner in SUJ, and the international institution’s Senior Social Development Specialist in Jamaica, Fabio Pittaluga, also commended the work of the entrepreneurs operating out of the accelerator facility.
“I think it’s an incredible job (that) you…are doing. You may not be at the point of breaking the millions (in earning), but you have got to start somewhere; and so, it’s very encouraging,” he said.
Mr. Pittaluga also welcomed the partnership being pursued with Devlabs, pointing out that “it’s really important to have these connections with other entities, and it’s very important for the visibility, also, of Jamaica, and of the Jamaican tech entrepreneurship ecosystem, to really stand out.”
Start-up Jamaica is a five-year private/public sector initiative that will provide business support for young innovators and entrepreneurs to grow their ideas into marketable products and services, thus contributing to economic growth, increasing employment, and generating foreign exchange.
It is expected to attract a significant number of young persons, who can be inspired to create their own start-ups, particularly in technology development
More International Investment for Jamaican Tech Startups - May 24, 2015
JAMAICAN tech entrepreneurs continue to get more support from international investors as Start-Up Jamaica rolls out a second set of participants for seed funding.
What's more, California-based accelerator company Devlabs will top the previous funding set by Jordan company Oasis500 to up to $5 million in cash and business support for each successful local start-up seeking to solve social and economic problems, whether nationally, regionally or globally.
The second pitch got underway last Thursday and saw 10 companies from Start-Up Jamaica, the University of Technology and Northern Caribbean University making five-minute pitches to Devlabs co-founders Ruben Hernandez and Jose Lopes at the Jamaica National Building Society (JNBS) building on Duke Street in downtown Kingston.
Devlabs incubates tech start-up companies founded by outlier entrepreneurs from small cities and rural towns around the world. It expects to select the winning companies over the next few months.
Last September, the Government and the World Bank inked a deal with Oasis500 for seed funding of up to US$30,000 ($3.48 million) for each participant under the Youth Employment in Digital and Creative Industries (YEDCI) project.
Start-Up Jamaica is a key element in a strategy developed by the Ministry of Science, Technology, Energy and Mining to help innovators and entrepreneurs in Jamaica and the wider Caribbean to grow their ideas into marketable products and services, thus contributing to economic growth, increasing employment, and generating foreign exchange.
Technology creators
The strategy aims to transform Jamaicans from being technology consumers to technology creators over the next few years, and to position Jamaica as the hub for entrepreneurship and innovation in the Caribbean.
Start-Up Jamaica conducts a 45-hour intensive boot camp, welcoming potential entrepreneurs in the areas of digital media, mobile technologies, ICT and digital content at its incubator facility at JNBS. The programme provides participants with key skills and technology, business, management, legal and accounting support they need to prepare them to pitch to equity investors and receive investment to grow their businesses.
Following the training, three start-up projects, RevoFarm, CrimeBot and the Vinelist, were selected from a pool of 60 potential entrepreneurs to benefit from seed funding and a trip to the company's headquarters in Jordan last March.
The tech companies have been benefiting from a 100-day training initiative, which saw Oasis500 planned investment come in the form of cash, mentorship, training, and other business support. In exchange, the Middle Eastern development company has the opportunity to take up to a 20 per cent stake in each start-up.
The new partnership with Devlabs is expected to take the same form.
Currently, the participating start-ups include developers of mobile and social media games Pandasoft; online wholesale club Pantrypan; social shopping platform and two-time participant Vinelist; electronic farm monitoring system Smart Farm; Jamaica Care Packages, which delivers monthly care packages to members of the Jamaican Diaspora; and DaiMangou, a platform for game developers -- all from Start-Up Jamaica.
Seek, an android application for job seekers, also entered the programme from the Northern Caribbean University, along with
iTech Student Information Management System. From the University of Technology, Jamaica, Callin Russell pitched JaApps Medical, while Stephen Smith and Rickardo Hyde pitched Working Enigma.
Start-Up Jamaica will be open to another 60 applicants over the next two months.
BY KARENA BENNETT Business reporter
http://www.jamaicaobserver.com/business/More-international-investment-for-Jamaican-tech-start-ups_18992538
What's more, California-based accelerator company Devlabs will top the previous funding set by Jordan company Oasis500 to up to $5 million in cash and business support for each successful local start-up seeking to solve social and economic problems, whether nationally, regionally or globally.
The second pitch got underway last Thursday and saw 10 companies from Start-Up Jamaica, the University of Technology and Northern Caribbean University making five-minute pitches to Devlabs co-founders Ruben Hernandez and Jose Lopes at the Jamaica National Building Society (JNBS) building on Duke Street in downtown Kingston.
Devlabs incubates tech start-up companies founded by outlier entrepreneurs from small cities and rural towns around the world. It expects to select the winning companies over the next few months.
Last September, the Government and the World Bank inked a deal with Oasis500 for seed funding of up to US$30,000 ($3.48 million) for each participant under the Youth Employment in Digital and Creative Industries (YEDCI) project.
Start-Up Jamaica is a key element in a strategy developed by the Ministry of Science, Technology, Energy and Mining to help innovators and entrepreneurs in Jamaica and the wider Caribbean to grow their ideas into marketable products and services, thus contributing to economic growth, increasing employment, and generating foreign exchange.
Technology creators
The strategy aims to transform Jamaicans from being technology consumers to technology creators over the next few years, and to position Jamaica as the hub for entrepreneurship and innovation in the Caribbean.
Start-Up Jamaica conducts a 45-hour intensive boot camp, welcoming potential entrepreneurs in the areas of digital media, mobile technologies, ICT and digital content at its incubator facility at JNBS. The programme provides participants with key skills and technology, business, management, legal and accounting support they need to prepare them to pitch to equity investors and receive investment to grow their businesses.
Following the training, three start-up projects, RevoFarm, CrimeBot and the Vinelist, were selected from a pool of 60 potential entrepreneurs to benefit from seed funding and a trip to the company's headquarters in Jordan last March.
The tech companies have been benefiting from a 100-day training initiative, which saw Oasis500 planned investment come in the form of cash, mentorship, training, and other business support. In exchange, the Middle Eastern development company has the opportunity to take up to a 20 per cent stake in each start-up.
The new partnership with Devlabs is expected to take the same form.
Currently, the participating start-ups include developers of mobile and social media games Pandasoft; online wholesale club Pantrypan; social shopping platform and two-time participant Vinelist; electronic farm monitoring system Smart Farm; Jamaica Care Packages, which delivers monthly care packages to members of the Jamaican Diaspora; and DaiMangou, a platform for game developers -- all from Start-Up Jamaica.
Seek, an android application for job seekers, also entered the programme from the Northern Caribbean University, along with
iTech Student Information Management System. From the University of Technology, Jamaica, Callin Russell pitched JaApps Medical, while Stephen Smith and Rickardo Hyde pitched Working Enigma.
Start-Up Jamaica will be open to another 60 applicants over the next two months.
BY KARENA BENNETT Business reporter
http://www.jamaicaobserver.com/business/More-international-investment-for-Jamaican-tech-start-ups_18992538
Can Jamaica 'Hack' Entrepreneurship For The Caribbean?
At the Start-up Jamaica headquarters in central Kingston, an entrepreneur pitches his idea to me. He runs through the business model and then ends with a flourish: his company is among a trio of local startups jetting off to Amman, Jordan, where tech accelerator Oasis500 will invest seed capital. The team is set to spend the next three months refining their business model in hopes of raising additional capital. For the moment, however, this particular founder isn’t worrying about writing code or raising money. He just talked to his colleagues over in Jordan and he looks stressed. “I hear it’s freezing over there, man!” he frets, shaking his head.
Techie types like to talk about finding “hacks,” or clever solutions, to blow past tricky problems. When it comes to building a startup ecosystem from scratch, it seems like Jamaica might just be hacking an entire industry. The country has a clear strategy: play to its strengths and crowdsource the rest. That’s how a network of private sector titans and government institutions coalesced to create Start-up Jamaica. Thanks to its corporate sponsors, the program offers the necessary basics, such as free office space and high-speed connectivity, to launch a tech business. When it comes to finding capital and expertise in scaling small businesses, Jamaica turns to partners like Oasis500 and a pair of new angel investor groups in Kingston and Montego Bay. The government has also announced plans to partner with private fund managers to launch the first venture capital firms on the island.
Put all of these elements together, and you’ve got a disruptive, if not audacious, bid to create a functioning ecosystem for early stage entrepreneurship. If it works, you might also have the building blocks for a vital reconfiguration of the island’s economy. Despite being named the third “coolest” country in the world by CNN, Jamaicans are not feeling particularly cool at the moment. Times are tough. An IMF -austerity program, implemented three years ago, has left the country with little available capital to invest in growth. So if Jamaica is going to stay cool, it’s going to have to diversify its economy, spur small business activity, and drive sustained growth.
Despite outsized importance in the world of sports, globally admired musicians, and famed beaches, the country cannot rest on its laurels. It’s going to have to reinvent itself, and innovation just may provide the pathway to do so. By creating entrepreneurial success stories, say the business equivalents of Usain Bolt, Jamaica will also provide needed inspiration for the next generation of entrepreneurs. It’s not an easy path and the payoff will not come overnight, but it may be the best chance to reverse the country’s reliance on tourism and remittances from overseas to pay the bills. Remittances, after all, currently represent the most impactful example of crowdsourcing in the Jamaican economy, amounting to approximately 15% of GDP, according to the World Bank.
If Jamaica successfully hacks entrepreneurship for itself, it may also do so for its neighbors, many of which are in similar economic doldrums. As the largest nation in the English-speaking Caribbean, the country is well positioned to serve as a regional hub for ideas, capital, and talent. That idea is not lost on billionaire Richard Branson, who owns an island in the British Virgin Islands. The Branson Centre of Entrepreneurship- Caribbean, based in Montego Bay, recently launched an online training platform in order to efficiently expand its program to other islands.
The Branson Centre embraces a broad view of entrepreneurship by fostering innovative business models in technology and also in more traditional sectors such as tourism and agribusiness. This approach appeals not only to local investors, but might also attract capital from the vast Caribbean diaspora that sends remittances back home. “We’ve found that members of the nascent angel community feel comfortable investing in companies that they understand, and where they can use their contacts and their experiences to help scale the company, particularly into new markets outside Jamaica.” says Lisandra Rickards, Entrepreneur Program Manager, “So we encourage entrepreneurs in any industry to pursue scalability and exportability to attract the eye of wealth holders – no matter where they live – who can propel them even further.”
Written by: Patrick McGinnis
http://www.forbes.com/sites/groupthink/2015/04/30/can-jamaica-hack-entrepreneurship-for-the-caribbean/
Techie types like to talk about finding “hacks,” or clever solutions, to blow past tricky problems. When it comes to building a startup ecosystem from scratch, it seems like Jamaica might just be hacking an entire industry. The country has a clear strategy: play to its strengths and crowdsource the rest. That’s how a network of private sector titans and government institutions coalesced to create Start-up Jamaica. Thanks to its corporate sponsors, the program offers the necessary basics, such as free office space and high-speed connectivity, to launch a tech business. When it comes to finding capital and expertise in scaling small businesses, Jamaica turns to partners like Oasis500 and a pair of new angel investor groups in Kingston and Montego Bay. The government has also announced plans to partner with private fund managers to launch the first venture capital firms on the island.
Put all of these elements together, and you’ve got a disruptive, if not audacious, bid to create a functioning ecosystem for early stage entrepreneurship. If it works, you might also have the building blocks for a vital reconfiguration of the island’s economy. Despite being named the third “coolest” country in the world by CNN, Jamaicans are not feeling particularly cool at the moment. Times are tough. An IMF -austerity program, implemented three years ago, has left the country with little available capital to invest in growth. So if Jamaica is going to stay cool, it’s going to have to diversify its economy, spur small business activity, and drive sustained growth.
Despite outsized importance in the world of sports, globally admired musicians, and famed beaches, the country cannot rest on its laurels. It’s going to have to reinvent itself, and innovation just may provide the pathway to do so. By creating entrepreneurial success stories, say the business equivalents of Usain Bolt, Jamaica will also provide needed inspiration for the next generation of entrepreneurs. It’s not an easy path and the payoff will not come overnight, but it may be the best chance to reverse the country’s reliance on tourism and remittances from overseas to pay the bills. Remittances, after all, currently represent the most impactful example of crowdsourcing in the Jamaican economy, amounting to approximately 15% of GDP, according to the World Bank.
If Jamaica successfully hacks entrepreneurship for itself, it may also do so for its neighbors, many of which are in similar economic doldrums. As the largest nation in the English-speaking Caribbean, the country is well positioned to serve as a regional hub for ideas, capital, and talent. That idea is not lost on billionaire Richard Branson, who owns an island in the British Virgin Islands. The Branson Centre of Entrepreneurship- Caribbean, based in Montego Bay, recently launched an online training platform in order to efficiently expand its program to other islands.
The Branson Centre embraces a broad view of entrepreneurship by fostering innovative business models in technology and also in more traditional sectors such as tourism and agribusiness. This approach appeals not only to local investors, but might also attract capital from the vast Caribbean diaspora that sends remittances back home. “We’ve found that members of the nascent angel community feel comfortable investing in companies that they understand, and where they can use their contacts and their experiences to help scale the company, particularly into new markets outside Jamaica.” says Lisandra Rickards, Entrepreneur Program Manager, “So we encourage entrepreneurs in any industry to pursue scalability and exportability to attract the eye of wealth holders – no matter where they live – who can propel them even further.”
Written by: Patrick McGinnis
http://www.forbes.com/sites/groupthink/2015/04/30/can-jamaica-hack-entrepreneurship-for-the-caribbean/