After five months of intensive learning, 225 aspiring entrepreneurs have completed the first cohort of the Caribbean Development Bank (CDB)-funded Caribbean Tech Entrepreneurship Programme (CTEP) 2018 - 2019. CTEP is a virtual incubator and accelerator programme to support the growth of technology entrepreneurship in CDB’s 19 Borrowing Member Countries. The entrepreneurs participated in capacity-building workshops while receiving critical mentorship support; and in the latter stages of the programme, the most promising participants competed for cash and business support prizes.

At its end, the teams from Antigua and Barbuda, Barbados, Grenada, Jamaica, Montserrat, St. Vincent and the Grenadines, and Trinidad and Tobago edged out rigorous regional competition to secure top spots in the Ideation, Validation and Scale-up tracks. The winning enterprises include an entertainment-booking app, a virtual platform which allows person with disabilities to meaningfully contribute to the workforce and a virtual reality experience centre. The nine entities are spread across a range of industries including: tourism, education, and fintech financing.

The winning companies are:

IDEATION

1st Place – Bodio (Montserrat)
Prize valued at $5,500 USD ($1,500 in cash, $4,000 in services)

2nd Place – Ipsum Technologies (Trinidad & Tobago)
Prize valued at $4,000 USD ($1,000 in cash, $3,000 in services)

3rd Place – Packed Grocery Delivery (Antigua & Barbuda)
Prize valued at $2,500 USD ($500 in cash, $2,000 in services)

VALIDATION

1st Place – FlowFacto (Jamaica)
Prize valued at $5,500 USD ($1,500 in cash, $4,000 in services)

2nd Place – Global Tutoring Hub (Barbados)
Prize valued at $4,000 USD ($1,000 in cash, $3,000 in services)

3rd Place – LinkUp (St. Vincent & The Grenadines)
Prize valued at $2,500 USD ($500 in cash, $2,000 in services)

SCALE-UP

1st Place – I’m Local (Grenada)
Prize valued at $5,500 USD ($1,500 in cash, $4,000 in services)

2nd Place – Jamaican Care Packages Limited (Jamaica)
Prize valued at $4,000 USD ($1,000 in cash, $3,000 in services)

3rd Place – Transcend Technology Inc. (Barbados)
Prize valued at $2,500 USD ($500 in cash, $2,000 in services)

CTEP is executed and managed by the Barbados-based Orbit Innovation (Orbit). According to Troy Weekes, CTEP Manager and Director of Orbit Innovation, “We at Orbit have partnered with CDB to leverage CTEP as an initiative to nurture and develop world class innovation output.” The entrepreneurs who participated in CTEP have benefited tremendously from the resources provided, and several of them have attributed their growth and competitiveness to the programme’s targeted curriculum. “We are building the foresight to discern the Caribbean’s next generation of entrepreneurs and business leaders; CTEP is a streamlined incubator model designed to de-risk these entrepreneurs, and ensure that they can take off successfully even under turbulent economic conditions,” said Weekes.

Coordinator of Micro, Small and Medium Enterprise Development, Lisa Harding stated that CDB’s support of CTEP was part of the Bank’s investment in innovation that can create economic growth and take the Region forward. “Technology provides an opportunity for entrepreneurs in the Caribbean to reach bigger markets and new audiences and, indeed, to offer services and products that were previously not feasible. Through CTEP, we are equipping our entrepreneurs with the skills needed to take advantage of these opportunities,” said Harding. CTEP is funded under CDB’s Caribbean Technological Consultancy Services (CTCS) Network.

Orbit, in collaboration with CDB, has secured a number of follow on activities for CTEP winners. The Branson Centre of Entrepreneurship - Caribbean will provide mentorship to the Scale-up winners. The Organisation of Eastern Caribbean States (OECS) Commission will facilitate access to its Market Intelligence Portal (MKIS) to winners from its member countries. Additionally, they’ve sponsored a $3,00 EC cash prize to the outstanding Validation team, LinkUp. Team members from Bodio and Ipsum Technologies have secured places in the Caribbean Development Bank and Youth ‘Vybzing’ 2019 Bootcamp.

Visit www.ctep.tech for more information.