Building a startup ecosystem in barbados
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![Page 1: Building a startup ecosystem in barbados](https://reader033.fdocuments.in/reader033/viewer/2022061109/54516819af795982318b8385/html5/thumbnails/1.jpg)
Shannon Clarke
Building the Startup Community in Barbados
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What’s next for these projects?
A startup is a company, partnership or temporary organization designed to search for a
repeatable and scalable business model
● Startups must think & act global
● Startups need an environment where they can GROW and SCALE
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Our current environment
● Barbadians are highly-educated, opinionated and are passionate
● Heavy endorsement from Government
● Several business facilitation organizations (BIDC, SBA, YES, BYBT, etc)
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Why it’s not enough
● There are too many silos. Not enough connections
● Setting up a new business takes weeks unnecessarily
● No central location/conference/event for investors & startups to network,
communicate and make deals
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Community first
● Must be built with a bottom-up approach, not top-
down. Built by people and not consultants
● Led by (serial) entrepreneurs
● Supported by Government
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Everyone must have a equal voice
● People at startup-level can give lecture about any topic within their expertise
● World class talent preferred but not required.
● Everyone must be open to learning & experimentation
●Can we adopt a “give before you get” attitude?
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How to get there?
● Asking entrepreneurs to apply for investment/funding is not enough
● Renting space to businesses is not enough
● We need a central location (physical/virtual startup incubator) where members of
the startup community can network, learn and share with each other
●What about the empty industrial parks owned by the BIDC?
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How will Barbados benefit?
● (Re) creation of new sectors and services
● Open civic innovation
● Aligns with the Human Development Strategy
● Increased inflows of foreign exchange
● More engagement from Caribbean Diaspora
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What’s happening now?
● Disillusioned entrepreneurs are now
creating their own solutions.
● A partnership between BCSI & Digicel
will connect app developers with the
private sector
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Let’s keep it frank and open
● Make it easy for people to help each other
● Always be hungry to learn new skills and do
more faster
● Be inclusive. Connect with the Diaspora
● Highlight & celebrate entrepreneurial
success. Embrace and learn from failures
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Let’s get
started