Startup Companies Encouraged to Participate in OECS Accelerator Program

CASTRIES, St. Lucia – The Commission of the Organisation of Eastern Caribbean States (OECS), has issued a call for startup companies in member states, to participate in its accelerator program called the OECS Global Startup Hub, targeting up to 200 technology and technology enabled MSMEs in the OECS for intense and world class training, mentorship and technical assistance.

The programme, conducted in partnership with Draper University and the Caribbean Development Bank (CDB), aims to empower visionary MSMEs and startups within the OECS region by providing them with access to world-class mentorship, resources, with the opportunity for an immersion experience in the renowned Silicon Valley.

In a statement calling for the startup companies to apply for the program, the Commission said that it “recognizes the critical role of fostering innovation, building capacity, and driving economic growth” even as “the entrepreneurial landscape in the OECS continues to evolve”.

“Through this collaboration and support of other key private sector partners, the program is set to transform the entrepreneurial ecosystem within the OECS Member States and unlock the full potential of technology based startups,” the OECS Commission said.

The program will be executed in two phases; the first will see up to 200 startups selected to participate in an intensive Virtual Accelerator Programme, covering key areas such as Technology of the Future, Fundamentals of Growth and Sales, Fundraising, Leadership and Team Building and Business Pitches.

In the second phase, 30 of the high growth potential start-ups will participate in Draper University five-week Hero Training Program, which will “providing participants the opportunity to delve into an unparalleled experience, engaging with industry titans, visiting renowned tech companies and immersing themselves in the vibrant innovation ecosystem in Silicon Valley.”

Applications will close on August 25, 2023 and to be eligible to apply, a startup must have high growth potential, with scalable ideas and operate in the technology industry or in other industries that are interested in introducing technology to scale their business operations.

Dr. Didacus Jules, OECS Director General indicated that the program will go a long way towards actualizing the strategic objectives of the OECS Commission and reiterated the Commission’s goal to revolutionize the entrepreneurial ecosystem throughout the OECS.

Dr. Jules also extended an invitation to other stakeholders, partners and institutions to join this initiative and pledge their support and alliance to MSMEs in order to strengthen the entrepreneurial ecosystem in the region.

“Together, united, we will forge an unbreakable alliance to strengthen the entrepreneurial ecosystem of our region, fortify and nurture the development of micro, small, and medium-sized enterprises (MSMEs), and advance innovation that shall provide a better quality of life for the people of the OECS,” Dr. Jules said.

Lisa Harding, Head (Ag.), Private Sector Development at the Caribbean Development Bank, said the partnership with the OECS “is a demonstration of CDB’s continued efforts to leverage its resources by collaborating with other development partners in the Region on projects aligned with the Bank’s agenda to support private sector development which includes the strengthening of entrepreneurial ecosystems, specifically in the provision of access to finance, innovation and the use of technology to enable innovative and transformative development solutions. CDB envisions that this Project will ultimately empower beneficiary youth and women and provide opportunities to strengthen economic development initiatives linked to digital transformation, a key element of the economy of the future.”