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Supporting regional trade is central
to the work of the Caribbean Export Development Agency (Caribbean Export). Caribbean
Export in collaboration with the Deutsche Gesellschaft für Internationale
Zusammenarbeit GmbH or GIZ in short, supported the participation of four
CARIFORUM companies to exhibit at the recently held Jamaica International
Exhibition (JIE) at the Montego Bay Convention Centre from May 30 to June 1,
2019.
“Participation
in the JIE enabled us to gain meaningful feedback on our new product line and
promote our existing teas with various key players in the Jamaican market. We
were able to present our teas to hotel management, distributors and even the
Mayor of Montego Bay which was encouraging as the feedback was fantasticâ€
informed Sophia Stone, CEO at Caribbean Cure Ltd from Trinidad and Tobago.
Other
exhibiting companies included Benedicta SA producers of the region’s only cider
alcoholic beverage from the Dominican Republic, Gom Foods out of Suriname who
produce a range of marinades and condiments; and from Saint Lucia the Winfresh
Group also presented their range of sauces and condiments.
Speaking on
his experience at the JIE Gustavo Cruz Jerez, Co-Founder and CEO at Benedicta
SA highlighted that they “made good business contacts for Jamaica, Guyana,
Costa Rica, Suriname, Grenada and Miami.â€
Inclusion
of CARIFORUM firms at National Trade show such as JIE is an important
intervention for the Agency. In addition
to JIE the Agency supported seventeen (17) of the WE-Xport
firms to participate in BMEX in Barbados over the period June 7-10, 2019 together
with regional buyers in the BIDC Buyer Program.
Caribbean Export in cooperation with the European Union will continue supporting
national trade shows throughout the year such as the Guyana Trade and
Investment Exhibition (GuyTie); Everything Vincy 2019 in St. Vincent and the
Grenadines and the upcoming Trade and Investment Convention (TIC) in Trinidad
and Tobago.
Caribbean
Export will itself be hosting a trade exhibition in Frankfurt, Germany on
September 27th as part of the 4th CARIFORUM-EU
Business Forum, a 3-day event to support increased trade between CARIFORUM
and the EU. Over 60 CARIFORUM companies
will participate in the business forum many of whom have had tremendous success
at the aforementioned national events.
“We
are grateful to Caribbean Export and GIZ team for supporting us in this
initiative and helping us progress one step further in international market
penetration†expressed Stone.
Business Process Outsourcing (BPO), has the potential to be
transformative for countries in the Caribbean and should be further explored
and exploited. This is the charge from
the Caribbean Export Development Agency (Caribbean Export) organisers of the 2nd
Outsource to the Caribbean Conference (OCC) 2019.
Hosting the event in collaboration with the Caribbean
Association of Investment Promotion Agencies (CAIPA) and with the Curaçao
Investment and Export Promotion Agency (CINEX) some 23 countries were
represented by delegates looking to explore new sourcing opportunities and
discover what the Caribbean has to offer in the BPO sector.
President of the Caribbean
Association of Investment Promotion Agencies (CAIPA), Tessa Jacques in her
opening remarks of the conference, shared that “We’ve done the homework and the
site selection companies and potential investors have indicated to us that they
know the Caribbean but have challenges identifying our individual territories.
This is not a bad thing. Our goal as CAIPA is to build on this perception of the
Caribbean and identify for investors niche opportunities in each of our
territories.â€
Collaboration between the Caribbean countries was the main
theme throughout the conference for the region to achieve long term success in
the industry. Jamaica is one country
applauded by the Hon. Eugene Rhuggenaath, Prime Minister of Curaçao, for its
growth in the sourcing sector as it has led the way in the regions BPO industry
“Jamaica is a pure example of the success in the BPO industry, with over 36,000
employees from 60 players. Jamaica’s BPO
industry has grown on average 20% per year and is expected to continue growing
15-18% in 2019. Congratulations
Jamaicaâ€.
Jacques highlighted that in 2010 the Caribbean’s BPO sector
provided employment for 47,000 workers, and by 2015 this figure had grown to
74,000 and continues to grow. With
companies generating close to US$25million in revenue for every 1000 agents. The opportunity for the Caribbean to
capitalise upon technology enabled service delivery is apparent. Ahead of the
conference Caribbean Export carried out a poll on the OCC website and found
that 60% of all first-time visitors to the site had intentions to expand in the
region within the next 12-24 months. This
is a strong signal of continued growth in the sector in the near to medium
term.
“This impressive growth in the BPO sector will accelerate and
become even bigger for Caribbean destinations†continued the Prime Minister as
he underscored that the success of the Caribbean was deeply rooted in its
heritage, diversity, versatility and creativity as “One Caribbean, one
nearshore solution for our partners in the America’s, Europe and even Africaâ€.
At the event, two Memorandums of Understanding (MoUs) were
signed between Caribbean Export, CAIPA, the Caribbean Association of
Telecommunications Organizations (CANTO) and the ACCA Caribbean. This is an
indication of their commitment to work together to continue supporting the
growth and development of the Caribbean’s BPO sector.
Another significant undertaking at the event was the hosting
of the first Caribbean BPO of the Year Awards. The event sought to celebrate
the accomplishments of Caribbean BPO firms over the period 2017/2018, with a
focus on jobs created, investment and innovation in service delivery. The applicants
were scored by Anupam Govil of AVASANT, Margaret Rose of Site Selection
Magazine and Kirk Laughlin of Nearshore Americas. The winners were announced at
the celebratory reception at the Conference, where itelBPO of Jamaica and the
Bahamas copped the coveted Caribbean BPO of the Year Award. itelBPO, also won
the Caribbean BPO Employer of the Year Award. The winner of the other 2
categories, that is, Caribbean BPO Investor of the Year Award and Caribbean BPO
Innovator of the Year Award was Qualfon of Guyana. Accepting the award was
Luanna Persaud, Country Director.
The next edition of the Outsource to the Caribbean Conference
is scheduled for 2021.
Caribbean fashion and contemporary designers are getting a boost to help them penetrate the international market, through an accelerator programme jointly funded by the Caribbean Export Development Agency (Caribbean Export) in cooperation with the European Union and the Caribbean Development Bank (CDB). The Bank’s funding is through its Cultural and Creative Industries Innovation Fund (CIIF).
Starting on May 6th, twenty (20) designers
from across the region have been participating in an intensive boot camp-style
workshop led by Sandra Carr, one of the pioneers of the Caribbean Academy of
Fashion and Design at the University of Trinidad and Tobago. The twenty (20) participants will work with an
expert team to refine their products for the export market, and they will go
through a process of identifying where best to place their products; and how to
develop their brand. They will also
learn how to leverage social media platforms to reach their target audience and
develop a go to market strategy. The programme runs until May 17th.
“We received 70 applications to participate
in this programme, which has been devised specifically to get the designers to
a certain point where they can capitalise further on future aspects of the
programme such as the grants from CDB and participation at the Caribbean
Fashion Showroom†commented Allyson Francis, Services Specialist at Caribbean
Export.
Caribbean Export and CDB through its Cultural and Creative
Industries Innovation Fund (CIIF), are collaborating to enable a larger cadre of professionals within the Creative
Industries to access critical resources.
Caribbean Export has gained resources from the
European Union as part of the 11th EDF Regional Private Sector
Development Programme (RPSDP). The Agency’s
collaboration with CDB has enabled the pooling of resources to provide added
support to the region’s fashion industry.
After completing the workshop, participating
designers from CDB member countries will become eligible to apply for a CIIF Improving
the Competitiveness of Micro, Small and Medium Enterprises (MSMEs) grant and
also gain access to Caribbean Export’s market integration platform the
Caribbean Fashion Showroom.
“We are extremely pleased with the response
by our Borrowing Member Countries (BMCs)to the opportunity being provided
through this fashion accelerator, and we are delighted that the beneficiaries
of the programme come from 13 of CDB’s 19 BMCs. It is an excellent opportunity
for designers to network, share experiences and learn from each other. Over the
10 days, designers have benefited from the tutelage of more than five influencers
and experts in the fashion industry. This capacity building intervention is a
key component of CIIF, which seeks to improve the competitiveness of creative
industries practitioners in the Region†shared Lisa Harding, MSME Coordinator at
CDB.
The Caribbean Export Development Agency (Caribbean Export) in cooperation with the European Union is accepting proposals from CARIFORUM firms for grants of up to €30,000 the equivalent of approximately $33,000 USD, under their 2nd Call for Proposals for the DIRECT ASSISTANCE GRANT SCHEME (DAGS).
In the 2018 1st Call for Proposals over €2.1M was awarded to fifty-three (53) CARIFORUM firms that successfully applied for a grant. Businesses from a range of sectors including agro-processing, manufacturing, tourism, services, wood products, renewable energy, film and tv production, information technology and alcoholic beverages were awarded grants.
“We were encouraged to see the diversity
of proposals from companies looking for a grant†shared Damie Sinanan –
Manager, Competitiveness and Export Promotion at Caribbean Export. “This time we have reduced the maximum value
of the grants available in an effort to provide more grants to firms and make
it more accessible†he continued.
The DAGS is a reimbursement grant funding facility which requires firms to fund their projects upfront and be reimbursed at their completion. The fund was specifically designed to provide much needed financial assistance to legally registered CARIFORUM firms and individuals that are exporting or have the potential to export their products and services.Â
This latest Call
for Proposals is open until June 11, 2019 and interested companies are asked to
visit the Caribbean Export website at www.carib-export.com for
further information.
Caribbean Export Development Agency (Caribbean Export), in partnership with the Commonwealth Secretariat and the Caribbean Association of Investment Promotion Agencies (CAIPA), has set its sight on improving the business climate in the Caribbean with a focus on strengthening the procedures to start a business in the Region.
The Agencies convened a two-day workshop at the Radisson Aquatica Hotel in Barbados from 9-10th April 2019, to discuss the region’s business climate.
“Our focus will be 3-fold,†notes Suzette Hudson, Snr. Advisor of Investment promotion at Caribbean Export. “We want to assess the current procedures, cost and time to start a business in the Caribbean, guided by the World Bank’s Ease of Doing Business Report, review global best practices with a focus on Jamaica and finally, develop action plans or next steps for that will be implemented in the near-term.â€
Jamaica ranks among the top 10 in the World Bank’s Ease of Doing Business Report for Starting a Business. “It is hoped that in the future we can continue to work with CAIPA to tackle other hurdles that are negatively affecting or may negatively affect the attraction of investment into the Caribbean.â€
Participating countries included: Antigua and Barbuda; the Bahamas; Barbados; Belize; Dominica; Grenada; Guyana; Jamaica; St. Kitts and Nevis; Saint Lucia; St. Vincent and the Grenadines; and Trinidad and Tobago. From these countries 32 stakeholders, the investment promotion agencies, attorneys who assist foreign firms in incorporating their companies, registrars of companies and other private sector interested parties participated.
Commenting during the opening session, Ms. Evelyn Wayne, the Director of Economic Policy and Development, of the CARICOM Secretariat noted that “This initiative is directly aligned to the commitment to adopt a Community Investment Policy for CARICOM States, which, among other things, addresses the modernization of the role of public authorities, to improve investment facilitation procedures.â€
“Creating an enabling environment to facilitate investment through regulatory reforms is critical for small States with limited ability to offer incentives for FDI attraction “noted, Ms. Opeyemi Abebe, Trade Advisor with the Commonwealth Secretariat. “At the Secretariat, we are committed to helping the developing and small member States of the Commonwealth address challenges faced in facilitating investment and building that capacity to implement some key interventions that Governments can execute to improve the business climate for attracting investment.†The Commonwealth Secretariat is the international donor, funding the execution of a study to develop action plans to strengthen the procedures to start a business in the Caribbean. The funding from the Secretariat also covered the hosting of the regional workshop.
Caribbean
animators had the opportunity to showcase their skills to an audience of local,
regional and international players in the content and technology industry and
access seed funding for their animated concepts thanks to the KingstOOn 3
Animation Festival which was held in Jamaica April 5 -7, 2019.
Caribbean Export Development Agency (Caribbean Export) supported the participation of three animators: Barbadian Joshua Clarke, Alain Bidard from Martinique and St. Lucian Tevin Loctar.
Alain Bidard of Martinique receives award for Best Caribbean Short Film “The Flight” from Jacqueline Lynch-Stewart, Chief Technical Director, Office of the Prime Minister, Jamaica
During the three – day event, attendees engaged with global industry leaders and were better able to understand the global animation pipeline, pre-qualified individuals were paired with potential content and Afro-descendant animated content from around the world was showcased.Â
The KingstOOn3 Animation Conference and Afro-descendant Film Festival included expert animation panels and keynote presentations, workshops, a film festival and three animation competitions. Alain Bidard, whose participation was supported by Caribbean Export won Best Caribbean Short Film with “The Flight†in the Emerging Animated Content Competition. Also, of note was the Pitch Bootcamp and Competition which allowed four selected finalists, of five team members, to refine their pitching skills and concepts under the guidance of world-class experts in the animation industry and to be assessed by a panel of executives from major studios.
Caribbean Export in cooperation with the European Union via the 11th EDF Regional Private Sector Development Programme currently being implemented, remains committed to the development of the Caribbean animation community and was happy to collaborate with the organizers of the 3rd edition of the KingstOOn event to ensure that it was a resounding success.Â
Caribbean Export Development Agency (Caribbean Export) in cooperation with Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ) and T&T Coalition of services Industries hosted a Cultural and Creative Industries Workshop in Trinidad and Tobago.
The event which occurred from March 27th – 28th, 2019 empowered Caribbean creative practitioners with the much-needed information to build their export capacity.
Allyson Francis, Services Specialist of the Caribbean Export noted that not only are the cultural and creative industries a priority sector for regional governments but also for Caribbean Export which will focus on the fashion, music, animation and film sectors during 2019. She further stated that ‘…helping cultural practitioners to gain a better understanding of the opportunities under the EPA and … to facilitate an increasing number of services trading with Europe through the Agreement.’ was extremely important.
The cultural and creative industry globally generates more than US 2.2 billion in revenues and employs more than 29 million people. During the economic downturn which started in 2008, global exports of creative goods and services grew annually by 14%, while international trade decreased by 12%. The growth in this sector presents a tremendous opportunity for Caribbean professionals who are now more equipped, due to the two-day Workshop, to take advantage of this development engine.
The workshop discussed opportunities under the EPA and presented an in-depth approach to critical topics such as quality and standards, pricing strategy, intellectual property rights, marketing and branding and creating unique value propositions.
Seventy (70) creative professionals, in the music, fashion and animation sectors, from the region, welcomed the critical technical and practical information provided, fully aware that it would be essential in assisting them in bridging the gap to take full advantage of their export potential, particularly in the European market.
To ensure the success and longevity of this initiative Caribbean Export will engage the respective Coalition of Services Industries to follow-up and provide support to the participants.
If you know anything about Ecofarms™, then you know they are in the business of bees. But at the heart of their story is a bicycle ride, a near death experience, and the conviction that a second chance at life was divine intervention, and instruction that Grace Foster’s destiny is to help others.
An MIT-trained engineer, Grace was among approximately 2,000 Jamaicans left unemployed when the global recession forced the closure of the two bauxite factories in the central town of Mandeville. She was determined, not merely to find herself a new job, but to get at least 100 members of her community working again. How would she accomplish this? She found the answer in bees.
“I was trying to figure out what next, and I went with my father to his farm. There I saw some little white boxes and found out that they were actually bee hives, and when I researched bees, I found that they were very versatile,†she said. “They have five products in the hive, and they can do innumerable things.â€
A Bicycle, A Near Death Experience & A Renewed Vision Within weeks of visiting her father’s farm, honey, wax, pollen, propolis and royal jelly became the foundation of Foster’s social enterprise. It was 2009, and she focused on producing bottled honey, and learning all she could about the bees.
By 2011, she was brimming over with ideas for a new, unique product.
“I’m an engineer, so innovation is second nature to me. Because honey is a healthy sweetener, I wanted to put it in a form where it was convenient and had an appeal.
Bringing this inventive product to market was however back-burnered because of the rigours of running a new business.
Ironically, when a near-death experience threatened to derail Foster’s plans, she instead used it as a catalyst birth this idea, and expand Ecofarms™.
She was knocked off her bike while riding along a country road one morning. As she lay in and out of consciousness in bushes at the side of the road, numerous thoughts raced through her mind, among them, her life, her family and her bills; but the thought she credits with giving her the will to live was that of the 100 people she was determined to help.
After weeks of recovering from head injuries, Grace was back on the job with a renewed drive and was laser-focused on bringing Ecofarmsâ„¢ Buzzâ„¢ HoneyStixâ„¢ to market. The straw-shaped sachets with a teaspoon of honey include island infusions of cinnamon, ginger, lemongrass, mango, tamarind and watermelon.
“Buzz™ Honey Wine†followed in 2013, but it wasn’t intentional. This award-winning product offering came to life when Foster accidentally left a bottled honey/passionfruit infusion in a cupboard for six months. When she remembered it, it had turned to wine.
“So I did some research and found that the oldest alcoholic beverage known to man is actually mead honey wine. The next time we made it, it was high science,†Foster said. “We produced infusions with Malay (Otaheite) apple, sorrel and carambola and they actually won us a couple of awards.â€
As Ecofarms™ increased their product offerings, their social mission became more well-defined. They started working with single women in Foster’s kitchen. Two years later, they had outgrown that space and moved to the garage, which they have now also outgrown.
Ecofarmsâ„¢ is now in the process of building out factory space to expand operations within the Jamaican Deaf Village, where they will mostly employ deaf people, and are currently training two deaf youths as beekeepers.
Grace Foster
The Value In The Valley Grace Foster’s social enterprise is steadily growing, and she is well on her way to realising her dream of creating 100 jobs for at-risk and marginalised Jamaicans. As with any entrepreneurial venture, her journey has been a delicate balance of accomplishments and setbacks, but Foster says her greatest accomplishments came as a result of the lessons she learned in her “valley periodsâ€.
During this time, Grace says underperformance by the bees, due to climate change, and a fraudulent transaction by a business partner derailed her start up’s income projections, and creditors were calling constantly.
“These were really tough, emotionally and financially devastating times,†Foster said. “And if not for the 100 people who were first and foremost in my mind, I would have given up, because I knew being an engineer would pay me better money.â€
Out of the experience of being financially tied up, Ecofarms™ grew significantly, and Grace grew with it. The experience pushed her to produce more, improve the company’s efficiency, create new products and seek out funding from grant agencies.
“That really made me become the best entrepreneur that I could be, because I didn’t have a choice,†she said.
The resulting growth gained from the pivots made during this period earned the social enterprise numerous national, regional and international honours and awards.
Most recently, the company’s greatest accomplishment came when international coffee giant Starbucks, reached out to say they were coming to Jamaica, and they wanted Ecofarms™ honey in stores.
“It was an important deal for us, because when you get that kind of client, it validates what you are doing as a small business,†Foster said.
Caribbean BSOs Validate the Region’s Entrepreneurs Validation, says Foster, also comes when business support organisations (BSOs) catch hold of an entrepreneur’s vision and offer assistance.
“I always look out for programs that create a safe space for me. And I have found that as a woman entrepreneur it is good to have other women around. It comes in handy with providing a safe emotional space,†she said.
Foster participated in “Vital Voicesâ€, a US-based programme targeting women leaders from Latin America and the Caribbean, and rates it highly because of the education and knowledge she gained. But because of cultural similarities, she dubbed WE-XPORT as “..the icing on the cake. Being with other Caribbean women has been wonderful,†she said.
Women Empowered Through Export (WE-Xport) is designed to support Caribbean women in business to start exporting or increase the exports of their products and services. The programme is offered by the Caribbean Export Development Agency (Caribbean Export), and offers access to: grant funding, finance workshops, technical assistance, online business training and webinars, and a personal business coach.
Women in Business At 47, this mom of three girls isn’t done chasing dreams. In fact, she implores others, women entrepreneurs in particular, to do the same, and offers some sobering advice to those who have been slow to start their own business because they’ve been focused on all of the reasons they can’t.
“We are natural business managers, but we don’t realise it,†Foster said. “Managing a home is like managing a business, but we as women are our own worst enemies, and it all stems from the conversations we have with ourselves.â€
What’s Next for Ecofarms™
Two new products are on the cards, one in the drinks category, the other in confectionary. They are both slated for release in winter 2019.
They are also scaling up, having recently purchased production lines for their HoneyStixâ„¢, Honey Wine and honey packaging. Ecofarmsâ„¢ is also looking into select export markets in the Caribbean, North America and Europe, and are pursuing organic certification.
This scaling should take Grace to the quarter-way mark of her 100 jobs for 100 Jamaicans goal, a significant accomplishment realised in just five years.
“At the end of each week, when I see the satisfaction my employees have from taking home a well-earned paycheck, I smile and think to myself, that falling off my bicycle was totally worth it,†Grace shared. “Had it not been for that accident, and the revelation it gave me, I can’t promise you that this is the thing I’d be doing at this time. But, it is.â€
Grace Foster’s Top Seven Tips For Aspiring Entrepreneurs
Having a dream is not enough. It must be saleable. Know your market and research extensively to discover the most profitable way to develop your idea.
Be purposeful and strategic about the company you keep. You’ll need a balance of people who will both motivate and anchor you.
Do not be deterred by criticism. Take what is useful and use it to develop a strategy that will propel you.
Form a balanced accountability group with fellow entrepreneurs in non-competing businesses. One member’s strengths should minimise your weaknesses, and vice versa.
Embrace your failures. Learn the lesson and develop a plan to move forward without repeating those mistakes. This fosters growth.
Entrepreneurs can over project, failing to account for possible mishaps. So, halve your projected revenue and double your expenses, then ask yourself if the business is still viable.
The most significant intangible in running a business is managing anxiety, because you are actually carrying the weight of the entire payroll. Maintaining spiritual, mental and physical health, and finding balance are key factors to coping.
The Caribbean Export Development Agency (Caribbean Export), in partnership with the Caribbean Association of Investment Promotion agencies (CAIPA), has set its sights once again on increasing its share of the growing US$140 billion outsourcing industry, with the hosting of the biennial Outsource to the Caribbean Conference (OCC2019) in Curaçao during the period 6-10th May 2019. The event is expected to attract over 300 business process outsourcing (BPO) industry leaders from the Caribbean, Mexico, Colombia, the USA, the Netherlands and Canada, which are the target markets for the event this year.
The Caribbean is well positioned to leverage its proximity to the United States to become the nearshore location of choice for business process outsourcing (BPO) firms looking to expand beyond call centers into new growth areas, such as shared services centers, legal process outsourcing, human resources outsourcing, and finance and accounting outsourcing, to name a few.
The Caribbean boasts a perfect fit with its highly educated, multi-lingual, services-oriented workforce and the staging of the OCC2019 will increase awareness of the region’s value proposition within the outsourcing sector to generate real interest that can be converted to investments and jobs.
OCC2019 has partnered with the Curaçao Investment Promotion Agency, CINEX and the internationally renowned fDi-Intelligence (an arm of the Financial Times), to build upon the success of the 2017 event which was held in Montego Bay, Jamaica and saw more than 160 industry specific stakeholders from more than 20 countries participating.
OCC2019 will include a 2-day workshop for regional BPO service providers and will also include an EXPO element facilitating greater opportunity for potential investors to meet with regional service providers. Â A highlight of the event will be hosting of B-2-B meetings between Caribbean BPO stakeholders and specially invited BPO firms from Mexico, Colombia, the USA, the Netherlands and Canada who are keen on doing business in the Caribbean.
“Our 2-day conference will not only provide an opportunity to discuss relevant topics such as ‘Driving business growth through RPA (robotic process automation) and intelligent automation from a Caribbean perspective’, but it will also include an EXPO element which is new for this year†noted Ms. Suzette Hudson, Senior Advisor in Investment Promotion at Caribbean Export. “This event will also provide an opportunity for the Caribbean to discuss the ways we can pull the Caribbean BPO sector together to plan and execute a strategy to enhance the Caribbean’s presence in the global BPO market.â€
Investment promotion is a key aspect of Caribbean Export’s work in cooperation with the European Union to support private sector development through the implementation of the 11th EDF Regional Private Sector Development Programme.
“Driving Growth Through Private Investment,†was the focus of the Caribbean Export Development Agency’s (Caribbean Export) hosting of the 2nd Caribbean Angel Investor Forum at the Hyatt Regency, Port of Spain, Trinidad and Tobago. The Forum which was held November 29-30, gathered a distinguished group of prominent policy makers, entrepreneurs, private and angel investors.
Minister of Trade and Industry with the Government of Trinidad and Tobago, Paula Gopee-Scoon in her opening remarks underscored the challenges entrepreneurs face with the limited options found within traditional banking systems which often require collateral and venture capital to secure. “If our businesses are to compete globally, the support of diverse investment modalities is crucial. I must applaud the angel investor ecosystem in Trinidad and Tobago which has helped to create a programme which provides a forum for budding entrepreneurs to receive much-needed early-stage capitalâ€.
The Forum is part of the LINK-Caribbean programme which is implemented by Caribbean Export with financial support from the World Bank Group. Launched in September 2016, LINK-Caribbean is an initiative of the Entrepreneurship Program for Innovation in the Caribbean (EPIC) which is managed by the World Bank and funded by the Government of Canada. LINK-Caribbean designed to foster innovative and growth-oriented enterprises in the Caribbean region to raise capital from private investors and establish functioning angel groups to strengthen the start-up finance eco-system in the region.
Since 2016, LINK-Caribbean has connected entrepreneurs with private investors, helped raise capital for innovative new and early-stage businesses as well as developed a Caribbean early-stage investing community including angel investors, institutional investors and diaspora investors.
The program has also offered training and support services to assist companies in securing angel investment.  Among its key outputs, LINK-Caribbean awarded 24 Investment Facilitation grants to Caribbean start-ups and early-stage firms. The deployment of these grants along with other LINK-Caribbean activities played a central role in enabling 10 Caribbean entrepreneurs to raise over $2.3M from business angel investors.
“The number of grants that have been awarded since LINK-Caribbean was launched speaks to the high interest of capital investors, angel investors and entrepreneurs in the Caribbean region,†said Sophia Muradyan, World Bank Coordinator for the regional programme. “Many of the region’s pressing concerns in critical sectors such as transportation, health and agriculture can be addressed by innovative solutions and ideas. We hope that these awards will inspire more entrepreneurs to innovate, grow and scale up their ideas.â€
 “We are really pleased with how LINK-Caribbean has surpassed the initial targets set in terms of the value of capital raised from private investors and the number of firms benefitting from the programme. LINK-Caribbean has successfully supported the development of a rapidly emerging angel investing ecosystem and the development of a truly Caribbean Angel Network†says Christopher McNair, Manager for Competitiveness and Export Promotion at Caribbean Export.
LINK-Caribbean also facilitated the creation of a Caribbean Business Angel Network (CBAN), formerly known as RAIN. Today, CBAN serves as a collaborative platform between investor groups with the potential for pan-Caribbean early-stage investments. Within the region there are seven Angel groups (First Angels Jamaica and Alpha Angels in Jamaica; Trident Angels in Barbados; Renaissance Angels and IP Angels in Trinidad and Tobago; and Enlaces and Nexxus in the Dominican Republic) and a new group is being established in the Bahamas. First Angels Jamaica and Trident Angels from Barbados have both successfully invested in companies that were part of the LINK-Caribbean program.
 “Although the 2 – year LINK-Caribbean programme is ending, its impact as expressed by the fledgling angel investor eco-system will be sustained by the angel groups across the region†said Christopher McNair. “Caribbean Export is committed to supporting the region’s private sector with the implementation of the 11th EDF Regional Private Sector Development Program where access to finance is a key pillar.  We are also seeking alternative funding mechanisms throughout CARIFORUM.â€
The Caribbean Export Development Agency in collaboration with the European Union, GIZ and BCSI commenced a two-day workshop for practitioners in the creative and cultural industries of CARIFORUM. The Agency hosted forty (40) representatives from across CARIFORUM to support the building of capacity in the areas of music, fashion and craft in particular.
The workshop was designed to enhance the capacity of cultural practioners in comprehending the dynamics of the above mentioned global industries, thereby fostering opportunities for the export of CARIFORUM cultural and creative goods and services.
At the opening of the workshop Janet Moreno, Team Leader for Economic and Social Development Support at the Delegation of the European Union to Barbados, the Eastern Caribbean States, the OECS and CARICOM/CARIFORUM informed that the EU planned to support the Region over the next four years with the implementation of the EPA specifically in the area of intellectual property “For the coming next 4 years, the European Union plans to further support the Region with the implementation of the EPA by providing more than 20 Million euros for important areas such as intellectual property rights.â€
The workshop covered topics such as branding and marketing; creating a unique value proposition. Further participants were able to get a greater understanding of intellectual property (IP) and how to utilise the opportunities under the CARIFORUM-EU Economic Partnership Agreement (EPA).
The cultural and creative industries globally grew by 14% following the economic downturn of 2008 and thus Regional governments have realised the potential economic benefits of a strong creative sector and have prioritised its development.
“The global creative industry is valued at some 2.2billion USD and employs 29 million people. The Caribbean has contributed towards this, but as a region our practioners and governments still have not unlocked its true economic potential†expressed Allyson Francis, Services Specialist from Caribbean Export.
Sanya Alleyne, Technical Trade Advisor at GIZ stressed the importance of practitioners becoming familiar with emerging technologies, “It is imperative that CARIFORUM practioners become familiar with the emerging technologies that are changing production processes, distribution and marketing methods and even, access to finance. The digital economy, is well suited to aid CARIFORUM practioners in overcoming current market entry hindrances.â€
Caribbean Export is committed to the development of the regional cultural and creative industries. The two-day workshop coincided with the celebration of Services weekend in Barbados which saw a number of performances and displays at Firefly Shows which the Agency also supported.
The Caribbean Export Development Agency (Caribbean Export) under the 11th European Development Fund (EDF) Regional Private Sector Development Programme (RPSDP), in collaboration with the International Trade Centre (ITC), and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, convened the “Advanced Market Intelligence Training for Business Support Organizations†last week in Kingston, Jamaica at the Jamaica Conference Centre, from November 12 – 15, 2018.
Conducting thorough market intelligence remains of critical importance in today’s dynamic, hyper-globalized world, as it ensures firms are holistically prepared for exporting and allows them to fully assess their export-readiness, while avoiding many of the common pitfalls and hurdles faced by exporters. This ultimately places firms in a better position, as it allows them greater market access in a shorter time-frame, with more efficient use of resources. The objectives of this initiative further enabled Caribbean Export to fulfil its mandate of fostering an enabling environment, enhancing competitiveness, promoting investment and strengthening institutional capacity and networking, while supporting the development of a vibrant regional business network to improve the quality of service provided to clients.
Twenty-four (24) participants from Business Support Organisations (BSOs) and Trade Promotion Institutions (TPIs) across CARIFORUM and the French Caribbean Outermost Regions (FCORs) received expert training from International Trade Centre (ITC) Advisor, Mr. Martin Lopez and ITC International Consultant/Trade Market Intelligence, Ms. Anna Eriksson. This equipped participants with the new methods, solutions and skills required to boost institutional competitiveness at all levels of their network of trade related stakeholders, while also reinforcing their portfolios of services with innovative approaches.
This 4-day workshop which is the 2nd Caribbean Export BSO training initiative for 2018, focused on the preparation of export potential analysis and the elaboration of market profiles. This provided a unique opportunity for managers and technical officers of regional BSOs and TPIs, to systematically enhance their trade intelligence capabilities. Caribbean Export is elated have been afforded the opportunity to host this capacity building and training initiative which falls under the umbrella of the 11th EDF’s RPSDP which is part of the EU’s regional economic cooperation and integration focus. The RPSDP was designed to address the increasing demands for private sector lead growth while also featuring a greater effort to integrate enterprises globally, boost competitiveness, improve the business climate and attract more foreign investment.
