Caribbean Development Bank looks to assisting young entrepreneurs in the region

The Caribbean Development Bank (CDB) on Monday announced it was inviting applications from young entrepreneurs in several regional countries to participate in a technology incubation program that provides business support services.

According to the announcement, the Caribbean Tech Entrepreneurship Program (CTEP) is an initiative of the Caribbean Development Bank (CDB) in partnership with the Caribbean Climate Innovation Center and the World Bank Group and is intended for small entrepreneurs in Barbados, the Eastern Caribbean and Haiti.

“It tailors support for participants according to the stage at which the entrepreneur or firm is currently operating. CTEP addresses two main problems faced by youth: the lack of appropriate job opportunities and the lack of a regional strategy to promote entrepreneurship and innovation,” the CDB said.

The region’s premier financial institution said CTEP follows the successful Youth Employment in Digital Animation Industries project in Jamaica.

CTEP coordinator, Troy Weekes, said that CTEP is unique in the way it collaborates with the entrepreneurs that are selected from the participating Caribbean countries.
“CTEP is comprised of a set of activities that are aligned to 3 distinct entrepreneurial stages, the Idea Stage, the Validation Stage and the Revenue Stage. Also, it is based on direct consultations with entrepreneurs and it fosters collaboration between partners and stakeholders within the Caribbean entrepreneurship ecosystem,” Weekes added.

The incubation program will run from March 1 – May 31, 2017. -(CMC)