Sixty local entrepreneurs within the micro, small, and medium-sized enterprise (MSME) sector are set to benefit from the Jamaica Business Development Corporation (JBDC) Accelerator Programme.
The $60-million initiative is being funded jointly by the JBDC and the Development Bank of Jamaica (DBJ).
The 60 entrepreneurs form the fourth cohort of the six-month Accelerator Programme, which includes six modules, focusing on strategy development, financial management, marketing and sales, operational improvement, digital transformation, and business valuation.
Participants will also benefit from training, mentorship, networking, increased sales, business growth, and financing opportunities.
The initiative was launched at The Jamaica Pegasus hotel in New Kingston on April 5.
Addressing the ceremony, Chief Executive Officer, JBDC, Valerie Veira, told the entrepreneurs that being a part of the programme will provide an opportunity for them to improve their network and net worth.
She urged them to fully immerse themselves in the programme, reminding them that they must put in the work to achieve success.
Manager, Business Advisory Services, JBDC, Melissa Barrett, said a tailored programme will be created to guide the business owners.
Technical Coordinator, Intermediary Services Unit, Boosting Innovation, Growth and Entrepreneurship Ecosystems (BIGEE), DBJ, Natalie D’Oyen, said the initiative aims to support entrepreneurs so that they can grow.
“Be humble in order to learn,” she told the participants.
In an interview with JIS News, Executive Assistant for Hema Luxe Limited, André Green, expressed optimism that the initiative will assist the company to grow.
“What this means for me is that we will be able to grow our business. We are seeking to expand our business overseas, and this Accelerator [Programme] will definitely give us all the tools available, in order for us to expand and grow our business as we want,” he told JIS News.
Applicants were chosen from a rigorous selection process. The Accelerator Programme will provide an opportunity for the businesses to be assisted with the preparation of critical documents, such as certified statements, and strategic business, operations, marketing and digitisation plans.
The JBDC was established in 2001. The organisation, which operates within the ambit of the Ministry of Industry, Investment and Commerce, strives to continually fuel the local economy through its services and programmes designed to support the growth and development of the MSME sector.