RevUP Caribbean shifts into second gear for cohort two | Loop Jamaica

The content originally appeared on: Jamaica News | Loop News

Caribbean business incubators have emerged as key players in building a strong Caribbean ecosystem, facilitating growth for micro, small, and medium enterprises (MSMEs). RevUP Caribbean, a virtual business incubator, continues to expand its reach within the region to equip high-growth potential businesses, startups, and entrepreneurs with the tools and the support needed to grow and access well-needed financing.

The Caribbean launch held at the NCB Atrium and webcast to the wider Caribbean, saw RevUp shifting into second gear for the launch of cohort twoon June 14.

Speaking at the launch event, Dr Nigel Clarke, Minister of Finance and the Public Service, Jamaica, lauded RevUP’s role in empowering MSMEs to maximize their growth potential, a key element in developing Caribbean entrepreneurial ecosystems.

“Reforms that are centered around deepening the role of the private sector are crucial to accelerate growth within the sector. Innovations such as RevUP Caribbean, are key to improving the value-added services in Jamaica and the region, by facilitating the growth scale-up of our MSMEs. It is important that we focus on the ecosystem; not on one particular kind of company or class of entities, but on several classes at the same time.”

More than 60 MSMEs from across the region are set to benefit from RevUP Caribbean’s robust programme, geared at helping founders develop their investment readiness, leadership, marketing, sales, team building, systems, strategic planning, and market acceleration.

Terry-Ann Segree, Private Finance Operations Specialist at the Inter-Development Bank (IDB) Lab, highlighted the role that incubators play in ensuring inclusion for all MSMEs.

She stated, “We have seen a shift in businesses in the Caribbean where technology is pushing more MSMEs to be a part of the change. More development partners are looking at these businesses for social inclusion, and economic improvement. We encourage MSMEs to take advantage of the opportunities that exist. This could be the game-changer for your idea to really make an impact, within your scope of operations or industry, to contribute to regional economic development as well as make a global impact.”

Terry-Ann Segree, Private Finance Operations Specialist at the Inter-Development Bank (IDB) Lab, highlighted the role that incubators play in ensuring inclusion for all MSMEs.

The critical role of business incubators has long been documented to offer entrepreneurial support programmes that provide start-ups with training, coaching, and financial assistance.

Sandra Glasgow, managing director of RevUP shared, “For founders and Start-up CEOs that realise that there are gaps in their skills, RevUP Caribbean here is for you. `Our StartUP Programme includes investment readiness where Founders learn about angel investing and how to pitch to angel investors, how to protect your intellectual property, and understanding valuation and exit strategies.”

She added: “Our 100-hour training programme dives into “going digital”, outlining what it truly takes to run an efficient business within the digital space. We go even deeper with thirty hours of marketing, thirty hours of accounting and finance, tax laws, people and processes, corporate governance and strategy, growth, and scaling. RevUP’s programme has a depth and range that ensures no MSME within the region is left behind.”