The Caribbean Export Development Agency (Caribbean Export) is inviting regional start-up companies and high growth potential MSMEs to participate in the first staging of its Angel Investor Engagement training for regional entrepreneurs. There will be a series of three trainings, the first to be held in Barbados on, June 22nd, 2015 for entrepreneurs located in Barbados, Trinidad, Guyana and Suriname. The other two will take place in Jamaica (to cover entrepreneurs in Jamaica, Belize, Haiti, Dominican Republic and The Bahamas) and Saint Lucia (to cover the Organisation of Eastern Caribbean States OECS countries). The dates and venues for the trainings to be held in Jamaica and Saint Lucia will be announced at a later time. Please note however that entrepreneurs from all CARIFORUM Countries (Antigua & Barbuda, Bahamas, Barbados, Belize, Dominica, Dominican Republic, Grenada, Guyana, Haiti, Jamaica, St. Kitts & Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, Trinidad & Tobago) are required to apply for the training using the deadlines indicated in this Expression of Interest notice.
This training will sensitize, educate, and train regional entrepreneurs in global best practices methods of engaging angel investors for investment.
In its mission to increase the competitiveness of firms in the region, Caribbean Export has taken note of the inability of regional firms to consistently gain access to the right mix of financing applicable to their stages of development as being a major hindrance to them achieving success. As such Caribbean Export has embarked on activities, in conjunction with our World Bank partners, to increase access to private equity financing, specifically Angel Investment to regional firms. One such activity involves training regional entrepreneurs on how to properly and successfully engage Angel investors when seeking to raise capital for their businesses.
Formal Angel investing within the region is a new occurrence; however, informal angel investing has been taking place within the region for many years. There are three formal Angel groups in the Caribbean; two in Jamaica (First Angels Jamaica and Alpha Angels), and one in Barbados (Trident Angels) and others planned for formation in the short and medium term. There are also a number of regional High Net Worth Individuals (HNWIs) performing angel type activities outside the auspices of a formal angel group.
Caribbean Export will sponsor a representative from twenty (20) CARIFORUM firms to participate in this event. The aim of this initiative is to build the capacity of those selected to strategically target, engage and properly pitch to regional/international angel investors.
This EOI is targeted to, but not limited to both start-ups and established firms who are actively seeking angel capital, and also firms that are exporting or have export potential in both goods and services.
Interested persons must submit all required documentation to Caribbean Export Development Agency.
All Expressions of interest should be submitted no later than June 5th 2015 4:30 pm Barbados time, by email only and in English to Mr. Kevin Jones, Caribbean Export – Advisor; Access to Finance at email firstname.lastname@example.org.
The criteria for participating in this initiative are listed below:
Firms must submit:
- Completed Expression of Interest (EOI) application form
- An Executive Summary of your Business Plan/ Business Model (1page max)
- A Letter of Commitment:
- Indicating a willingness to provide Caribbean Export with information on your progress in seeking angel investment.
- Demonstrating intent to use the training as a tool to target regional angel groups/ investors for funding.
Please note that the support that Caribbean Export will be providing to each of the 20 successful candidates to participate in this Business Summit is limited to:
- Direct economy airfare for one person
- Accommodation and daily stipend for one person (based on European Union guidelines)
The OECD defines a high-growth enterprise as a firm with an “average annualised growth in employees (or in turnover) greater than 20% a year, over a three-year period, and with ten or more employees at the beginning of the observation period.”