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A diverse collection of food and beverage producers from the Caribbean will descend upon the world’s leading food fair ANUGA in Cologne, Germany next month. The leading food fair which attracts some 7000 exhibitors from over 100 countries and close to 200,000 visitors will be home to eight producers from the Caribbean under the Caribbean Kitchen pavilion facilitated by the Caribbean Export Development Agency (Caribbean Export).

“Food and drinks is such an integral part of Caribbean culture which continues to be in high demand from the European markets. The firms selected to exhibit at this years’ ANUGA exemplify the quality and innovation needed to be successful exporters” highlighted Pamela Coke-Hamilton, Executive Director of Caribbean Export.

The participating companies include 2016’s Caribbean Exporter of the Year award winners the West Indian Biscuit Company (WIBISCO) manufacturers of cookies and crackers from Barbados. Following a successful event in 2015, La Benedicta the region’s only producer of apple cider from the Dominican Republic will return. Four Jamaican firms will be participating for their first time including Coffee Solutions with their Ridgelyne Blue Mountain Coffee; Ecofarms™ producers of organic gourmet honey and healthy honey products; Shavuot producers of herbal teas and powder products using indigenous ingredients such as Soursop and Moringa. Also from Jamaica is Southside Distributors producers of a range of condiments, canned products, juices and syrups using locally sourced fruits and vegetables. Southside owner Denese Palmer also won female exporter of the year in 2015. Suriname Candied Fruits are an agro-processor focused of producing a range of tropical fruit products for the global market under the strictest environmentally friendly conditions. Viking Traders out of Saint Lucia also produce a range of products and bring some unique Caribbean flavours to the market such as their Banana Ketchup and Banana and Honey BBQ Sauce.

Senior Advisor, Competitiveness and Export Promotion Damie Sinanan stressed “What is great about all of the companies selected is their use of locally grown products supporting their farming industries and providing jobs within their communities. They each use have introduced innovations into the use of indigenous products to elevate their quality and appeal in to the international market.”

ANUGA will take place from October 7-11, 2017 and is pegged to see attendance from the most important decision-makers within the food and beverage industry.

As the halfway point of the two-year LINK-Caribbean Angel Investment program approaches, over US$500,000 has been awarded to 14 Caribbean companies to support their development to attract angel investment.

The World Bank Group, together with the Caribbean Export Development Agency, launched LINK-Caribbean last September, funded by the government of Canada. The investment facilitation program aims to enable early-stage Caribbean entrepreneurs to raise capital from private investors, particularly business angel investors.

It also aims to contribute toward the development of an angel investment ecosystem across the Caribbean, and early indicators would suggest that is exactly what is happening. With investment of US$1.6 million, the program has awarded 11 investment readiness grants and 3 co-investment grants, and supported the growth of a Regional Angel Investor Network (RAIN) which now has business angels actively looking for early-stage and start-up businesses in which to invest.

“It is encouraging to see the entrepreneurs coming forward to seek investment and get involved in the program.  We have some bright, talented entrepreneurs with great ideas and businesses that can integrate into the global markets. The support from World Bank Group via the LINK-Caribbean program is just the first step.” said Pamela Coke-Hamilton, Executive Director of the Caribbean Export Development Agency.

“We are delighted to see that LINK-Caribbean has helped catalyze the growth of the Caribbean’s entrepreneurship ecosystem,” said Sophia Muradyan, Coordinator of the World Bank Group’s Entrepreneurship Program for Innovation in the Caribbean (EPIC), which includes LINK-Caribbean.

The program hosted the Caribbean Angel Investor Forum in May 2017 which helped to spur the development of new angel investment groups in the Bahamas. The region now has active angel groups in Jamaica, Trinidad and Tobago, the Dominican Republic and Barbados. Increased awareness and understanding around angel investing has increased the number of entrepreneurs seeing investment.

“We recognize that there is still a lack of knowledge as it relates to the various investment instruments available to entrepreneurs. Angel investing isn’t for everyone, but with greater understanding it’s becoming a viable option, as seen from the range of businesses applying to be part of the program,” said Chris McNair, Manager of Competitiveness and Export Promotion at Caribbean Export.

For companies that are not quite investment-ready, the Investment Readiness grant provides financial assistance for them to make themselves more attractive to a potential investor. The first tranche of IR-grant recipients are now in a better position to attract significant investment from business angels. If they qualify, they can have 50% of that investment matched with a co-investment grant.

IR Grant recipient Khalil Bryan said the grant has enabled his company, Caribbean Transit Solutions, to increase marketing locally, make improvements to its mobile app and secure the app platform from its original developers. The grant also put the company into the spotlight of regional angel investors.

About LINK-Caribbean and EPIC

LINK-Caribbean is an initiative of the World Bank Group’s Entrepreneurship Program for Innovation in the Caribbean (EPIC), a seven-year, CAD 20 million program funded by the government of Canada that seeks to build a supportive ecosystem for high-growth and sustainable enterprises throughout the Caribbean.

The Project Development Objectives are to contribute to increased competitiveness, growth, and job creation in the Caribbean region through the development of a robust and vibrant innovation and entrepreneurship ecosystem. EPIC has three core activity pillars: mobile innovation, climate technology, and women-led entrepreneurship. These pillars are complemented by an access to finance facility for Caribbean entrepreneurs and a skills upgrading and capacity development program for all ecosystem stakeholders.

 

World Bank Group Contact:

Alison Christie Binger, Communications Consultant

T +1 (876) 330-1155

Email abingerchristie@worldbank.org
http://www.infodev.org

@infoDev

 

About Caribbean Export Development Agency

Caribbean Export is a regional export development and trade and investment promotion organization of the Forum of Caribbean States currently executing the Regional Private Sector Program funded by the European Union under the 11^th European Development Fund.

Caribbean Export’s mission is to increase the competitiveness of Caribbean countries by providing quality export development and trade and investment promotion services through effective program execution and strategic alliances.

 

Caribbean Export Development Agency Contact:

JoEllen Laryea, PR and Communications

Tel: +1 (246) 436-0578, Fax: +1 (246) 436-9999

Email: jlaryea@carib-export.com

www.carib-export.com

@caribxport

Over 100 industry leaders from the public and private sectors across the region are expected to converge in Jamaica this December to discuss how best to attract more business from international companies to the Caribbean in areas such as call centre operations, website and animation design, and legal and accounting services.

The first-ever Outsource to the Caribbean Conference (OCC) under the theme “Leveraging the Nearshore Caribbean for Outsourcing Services” will be held on December 6, 2017 at the Iberostar Rose Hall Beach Hotel in Montego Bay, where representatives from international companies are also expected to attend.

The event is being organised by the Caribbean Export Development in conjunction with the Caribbean Association of Investment Promotion Agencies (CAIPA) and funded by the EU via the 11^th European Development Fund (EDF). It will focus on the Business Process Outsourcing (BPO) sector, specifically “nearshore outsourcing” which involves contracting the operations of specific business processes to third-party service providers in neighbouring or nearby countries.

Executive Director of Caribbean Export, Pamela Coke Hamilton, noted that outsourcing business to the Caribbean is beneficial not only to the region but to any international businesses investing here.  “The Caribbean is an excellent place to do business. We have a highly skilled, educated multi-lingual and cost effective labour pool. There is also a flexible work environment and a supportive regulatory framework which allows for low operational costs.  The Caribbean also has an advanced telecommunications infrastructure with all the necessary requirements for global connectivity,” the Executive Director stressed.

Ms.  Coke Hamilton further pointed out those areas in which the Caribbean could offer excellent BPO services.  They include: Voice Processing/Call Centres; Back Office Automation; Shared Services; Finance and Accounting; Human Resources; Legal Processes; Animation Services; Graphic Design; Web Design; and Data Entry Services.

Speaking directly to the conference, Senior Advisor, Investment Promotion, at Caribbean Export, Suzette Hudson, explained that OCC2017 was designed to increase awareness of the Caribbean as an outsourcing destination for business processes.

“It aims to bring together all the key BPO stakeholders in the region for the development of a targeted BPO Growth Strategy, which is expected to start in 2018. We also wish to enhance the visibility of the sector through increased communication about the value proposition of the Caribbean, generate investment leads, and increase the Caribbean’s insertion into BPO networks through connections with BPO journals, newsletters and key influencers”, Ms. Hudson noted.

She further explained that the conference will offer participants the opportunity to fully discuss areas relevant to BPO.  “Potential investors will gain insight into regional offerings and the numerous service possibilities through an impressive programme of plenaries and one-on-one engagements.  They can also create their own nearshore operation or form new partnerships with more than 100 potential partners, ranging from outsource providers and commercial developers to end users.”

Recognising organisations that have made huge efforts to ensure customer satisfaction and retention is the focus for 4^th edition of the Caribbean’s Regional Investor of the Year Awards (RIYA) 2016-2017, hosted by the Caribbean Export Development Agency (Caribbean Export) and the Caribbean Association of Investment Promotion Agencies (CAIPA).

Under the theme ‘Investing in Customer Satisfaction and Retention’ the prestigious RIYA seeks to recognize and salute the achievement of pan-Caribbean foreign and local investors who would have demonstrated exceptional business practices, economic achievements and investments.

“We recognise the importance of the contribution investors to the region make to our regional economies.  Both foreign investors and local investors are equally important to provide jobs and supporting our societies.  Their success becomes our success and improves our overall investment climate and so it’s important for us to recognise their efforts.” Express Pamela Coke-Hamilton, Executive Director at Caribbean Export.

In addition to recognising local and foreign investors who have invested in customer satisfaction and retention, using Caribbean labour, a special award will also be given to women or young investors whose investments are particularly noteworthy.

Last years’ awards focused on investments in innovation with Kikaboni, a producer of new organic pita snacks from the Dominican Republic, emerging as the special awardee as a young investor as well as the overall winner of RIYA 2015/2016. Du Boulay’s Bottling Co. Ltd, a leading beverage manufacturing establishment in Saint Lucia was the Local Investor of the Year 2015/2016 and Lenstec (Barbados) Inc, a manufacturer of innovative medical eye devices was the foreign investor of the year 2015/2016.

The RIYA 2016/2017 will again feature 3 specific award categories and applicants are invited to apply according to the category or categories which they believe they have had the most impact as it relates to customer satisfaction and retention.  Those categories are:

1. Foreign Investor of the Year Award: This award seeks to honour foreign investors (non-Caribbean nationals),
2. Local Investor of the Year Award: This award seeks to honour local investors, those of Caribbean birth.
3. Special Award: Special recognition will be given to women and young investors and this award will be given at the discretion of the Evaluation Committee to outstanding applicants.

The Regional Investor of the Year or overall winner will be selected from the successful candidates in the above categories and announced on 5 December 2017 in Montego Bay, Jamaica at the hosting of the Outsource to the Caribbean Conference.

Additional information on the RIYA can be found at: https://content.carib-export.com/opportunities/regional-investor-of-the-year-awards-20162017/

The deadline for submissions to the RIYA Evaluation Committee is 31 October 2017.

At this year’s CARIFESTA XIII hosted in Barbados, the Caribbean Export Development Agency (Caribbean Export) will be facilitating the participation of designers and artisans from across CARIFORUM within their Design Caribbean and Caribbean Essence export promotion platforms.

The assistance, in the tune of €50,000 is funded by the European Union (EU) via the 11^th EDF Regional Private Sector Development Programme (RPSDP), will allow seven fashion designers and four artisans to showcase their creations at the Grand Market & Buyers Shopping Mall from August 19-27 at the Lloyd Erskin Sandiford Centre, Barbados.   The Agency is further supporting the participation of 10 buyers from the EU to attend the event and discover the wealth of products available for the export market.

CARIFESTA is a unique Caribbean festival that celebrates the diverse cultural expression of the Region’s artists and artisans in fashion, food, festivals, the Arts (visual and theatrical), and art and craft. CARIFESTA has been a Regional staple of Caribbean cultural celebrations since it came onto the scene in 1972 when it was first hosted in Georgetown, Guyana. Throughout the years, various Caribbean countries have played host to this Regional festival and Barbados will be doing so for a second time in history with this year’s event under the theme: “Asserting Our Culture, Celebrating Ourselves.”

Caribbean Export’s Services Specialist Allyson Francis asserted that the Agency is “pleased to be able to play a role in supporting this unique festival and facilitate some of the Region’s most eligible cultural actors and creative to exhibit their cultural goods and services.”

Companies participating within the Design Caribbean stand will be Expressions des Arts from Haiti; Eco-Truffles Lavish Body Treats from Trinidad and Tobago; Touch By VLS from Jamaica and Earth Mother Botanicals Ltd from Barbados.  Within the Caribbean Essence fashion pavilion participating companies will be ASD Clothing and Illustration and Keneea Linton Designs Limited from Jamaica; David Andre Collection from Haiti; Heather Jones International from Trinidad and Tobago; Laurenth Industrial from the Dominican Republic; and Kimmystic.Clo and Peta Odini from St. Vincent and the Grenadines.

Regional trade is a key component for economic stability across the Caribbean, and greater trade from the agricultural sector could significantly contribute towards the lowering of the regions food import bill from outside of the region.  It is in view of this that the Caribbean Export Development Agency (Caribbean Export) has support regional firms to attend the Dominican Republic’s Agroalimentaria Fair; the country’s largest and most important food and beverage trade fair.

Six CARICOM countries participated in this years‘ event, funded by the 11th EDF Regional Private Sector Development Programme, and presented a range of products; including 10 Saints Brewery Company Ltd from Barbados; Pomeroon Oil Mill Inc. from Guyana; the Saint Lucia Trade Promotions Agency (TEPA), representing three companies from Saint Lucia; Coffee Solutions from Jamaica; Suriname Candied Fruits N.V., and the Trinidad and Tobago Fine Cocoa Company Ltd.  Their inclusion promotes stronger trade and investment cooperation between CARICOM and the Dominican Republic.

“The participation of CARICOM firms at Agroalimentaria for the first time is a significant development contribution towards the increase of regional trade.  In addition, the participation of international buyers also enhances the viability of the event for CARICOM firms attending to achieve penetration not only of the DR market, but also those outside of the region,” expressed Escipion Oliveira, Deputy Executive Director at Caribbean Export.

The Agency supported buyers from Europe, and an overall total of more than 170 buyers attended the event.  With some 1734 business-to-business meetings taking place over the three days of the event, the companies are expected to achieve some good results.

In addition to the CARICOM firms the Caribbean Export supported five Haitian companies: CARRIBEX; Berling S.A.; SUNFOOD; Tropic and Belzeb, as well as the Cacao Cluster of the Dominican Republic to participate under the 10th EDF Haiti-DR Bi-National Programme.

The Caribbean Export Development Agency co-hosted the inaugural Caribbean Angel Investor Forum in Montego Bay on May 12, 2017 together with the World Bank Group.  The event, which attracted some of the region’s most influential business people, came together to lay the foundation for a more buoyant and active Angel Investor ecosystem within the Caribbean.

The investor forum is just one of the activities of the LINK-Caribbean programme that is being funded by the World Bank Group and government of Canada as part of the Entrepreneurship Program for Innovation in the Caribbean (EPIC) and implemented by Caribbean Export. EPIC aims to support the development of an enabling ecosystem to foster innovative and growth-oriented enterprises in the Caribbean region; and the development of well-functioning Angel groups is a key component to achieve this end.

The World Bank Group’s Country Manager for Jamaica, Galina Sotirova, highlighted the importance of innovative entrepreneurs to generate jobs, acting as key drivers for economic growth and competitiveness. Five entrepreneurs delivered pitches to the international Angel audience, combating the perception that there is a lack of Caribbean innovation to generate the deal flow within the region to sustain an Angel investment ecosystem.

“Over the past 2.5 years the World Bank has supported angel group development, and companies are getting valuable exposure to experienced, connected businesspersons. Over 70 entrepreneurs have pitched or held private meetings.  Entrepreneurs in the region can become viable future economic contributors, and it is the desire to invest in Caribbean entrepreneurs that makes angels really unique and valuable to the ecosystem,” said Sotirova.

There are currently seven Angel groups within the Caribbean (First Angels Jamaica and Alpha Angels in Jamaica; Trident Angels in Barbados; Renaissance Angels and IP Angels in Trinidad and Tobago; and Enclaces and Nexxus in the Dominican Republic) actively looking for investment opportunities. Their coming together via the Regional Angel Investor Network (RAIN) enables greater regional collaboration or syndication to pool resources to present more attractive investment options for early-stage investment. Thus far there have been eight Angel investor “deals” across the region and with the LINK-Caribbean programme which provides supplemental funding to entrepreneurs, the region should see more deals being made.

The conservative investment climate within the Caribbean is changing with more business people looking to become “Angels.” Caribbean Export Executive Director Pamela Coke-Hamilton commended the Angel groups present at the event and the independent Angels for their work in their respective countries, saying that they are “pioneering alternative sources of funding for the private sector and are therefore instrumental partners for private sector development.”

Deborah Duperly-Pinks on behalf of the Canadian High Commission echoed similar sentiments. “Now more than ever globally there is an increased interest in the level of entrepreneurship and small business development. Governments look to entrepreneurs in seeking solutions to address limited or slow economic growth and rising unemployment.”