LINK-Caribbean Magazine

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Accelerating Early-Stage Investment in the Caribbean

About LINK-Caribbean is an Access to Finance initiative of the Entrepreneurship Program for Innovation in the Caribbean (EPIC). The Entrepreneurship Program for Innovation in the Caribbean (EPIC) is a seven-year, CAD20 million Trust Fund Program funded by the government of Canada that seeks to build an enabling ecosystem for growth-oriented and sustainable enterprises across 14 CARICOM countries (except Haiti). The Project Development Objectives are to con- tribute to increased competitiveness, growth, and job creation in the Caribbean region through the development of a robust and vibrant innovation and entrepreneurship eco- system. EPIC has three core activity pillars: mobile innovation, climate technology, and women-led entrepreneurship. These pillars are complemented by an access to finance facility for Caribbean entrepreneurs and a skills upgrading and capacity development program for all ecosystem stakeholders.

In the Caribbean, early-stage and growth stage businesses play a critical role in sustainable economic and social development. They foster growth, innovation and prosperity and are flexible and quick to respond to market changes, such as evolving consumer tastes. This is an important asset in a globalized economy where consumers are ever more aware and informed, and increasingly in search of more customized goods and services. SMEs are major contributors to growth and employment within their communities, nations and the Caribbean region as a whole. CARICOM estimates that SMEs account for more than 70% of jobs in the Caribbean region. SMEs are thus pivotal for this region’s economic stability. In view of this supporting the development of these businesses encourages the development of the private sector and promotes high-growth and sustainable enterprises. One of the challenges they face within the Caribbean is the lack of access to finance from the region’s financial institutions that is appropriate for SME’s at each stage of development. To counteract this challenge the Caribbean Investment Facilitation Project was developed by the Caribbean Export Development Agency (Caribbean Export) in collaboration with InfoDev, The World Bank Group and branded as LINK-Caribbean. LINK-Caribbean formed as the Access to Finance initiative of the Entrepreneurship Program for Innovation in the Caribbean (EPIC) programme which seeks to build a supportive ecosystem for high-growth and sustainable enterprises throughout the Caribbean. The seven-year $20 million program is funded by the government of Canada and implemented by infoDev and the World Bank Group. Promoting angel investing and innovative finance LINK-Caribbean has been implemented by the Caribbean Export Development Agency over the past 2 years following its launch in September 2016. LINK-Caribbean has helped start-up businesses raise money in the Caribbean, improving access to much needed capital. LINK CARIBBEAN AcceleratingAngel Investment in the Caribbean

LINK Caribbean had two primary objectives: To enable entrepreneurs to raise capital from private investors, principally business angel investors To develop a pan-Caribbean early-stage investment community, with a focus on angel investors in the region, institutional investors and

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diaspora investors

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DevelopingAn Angel Investing Ecosystem

Central to developing an angel investing eco-system within the Caribbean is the creation of deal flow for potential business angels. That is a stream of fledgling early-stage businesses looking for investment to propel them to the next level. Business angels are always on the lookout for a business opportunity to invest in, a young business where they can inject not only their cash but also impart their knowledge and experience. Quite often you find business angel acting independently however, few angels have the time or financial resources to find and fully fund a portfolio of 10 or more companies by themselves. Instead, they often look to connect with other like-minded Angels to share the work and pool resources. These groups of Angel Investors come together under a common brand with defined rules of membership and conduct to collectively identify, review, select and evaluate Angel investments.

worth individuals to be business angels to Caribbean businesses. At the start of the LINK-Caribbean programme there were three Angel Groups, Alpha Angels, First Angels Jamaica (FAJ) and Trident Angels in Barbados. The establishment of a Caribbean Business Angel Network (CBAN) formerly known as RAIN, enabled the sharing of opportunities and the development of a true pan-Caribbean early-stage investment community. With the growing interest in angel investing business angels have come forward start angel groups in their countries such Renaissance in Trinidad and Tobago and a group is looking to form in the Bahamas. The connection of the different Angel groups has allowed for investment opportunities or deal flow to be shared between groups making it a win-win for both the business angels and the entrepreneurs looking for investment.

LINK-Caribbean set out to support the introduction of early-stage businesses to groups of angels and to also discover high-net

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Preparing For Investment - Creating Deal Flow

LINK- Caribbean enabled

LINK-Caribbean enabled entrepreneurs to raise capital from private investors, namely business angels. However, investors within the Caribbean are known to be a little more risk averse than international investors and whilst many companies wanted to receive investment, they may not always be deemed a “good investment” due to their set-up or their business not quite at the right stage of development to make it viable. In view of a key component for the LINK-Caribbean programme being to facilitate the deal flow LINK-Caribbean needed to ensure the businesses were investible or investment ready. The Investment Readiness or IR-Grants solved this problem. The provision of Investment Readiness grants to start-up and early-stage enterprises that may not be quite ready for private investment enabled companies that demonstrate business promise to improve certain aspects of their businesses. Grant funding of up to USD$25,000 was made available for specific activities that can be executed within a short time frame (3-6 months) that improve the prospects for investment.

entrepreneurs to raise capital from private investors, namely business angels.

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Pitching to Angel Investors

Pitching, whether in person or online has been the

Pitching a business idea is a key for any business whether that’s to a financial institution, a potential investor and of course to sell the product or service. Pitching, whether in person or online has been the main method for selecting Caribbean companies to be awarded funds under the LINK-Caribbean Programme. Following the launch of the LINK-Caribbean programme in September 2016 the first pitch session was held at Caribbean Export offices in Barbados. Seven (7) early stage companies out of 134 applicants were invited to pitch their businesses to a panel of investors. These companies covered range of sectors and included CarePoint and Caribbean Transit Solutions from Barbados; Bluedot Media, Sweetie Confectionary and Innovative Menu Solutions from Jamaica; SystemIZ and Dingole from Trinidad and Tobago. Out of the pitches six of the companies were awarded an investment readiness grant of $25,000 USD as they demonstrated the strong company management and business promise that investors look for but needed to improve certain aspects to make them

more attractive to an investor. The panel of judges were able to provide advice and direction on how to make their business investment ready, and with the cash injection of $25,000 USD, the companies set out a plan to become investment ready! Throughout the life of the LINK-Caribbean programme 19 applications for investment 14 companies have received investment readiness grants totaling $350,000 USD readiness grants, were assessed by the review committee and a total of fourteen companies have been awarded one of these grants.

main method for selecting Caribbean companies to be awarded funds under the LINK- Caribbean Programme.

This makes a total of

in grant funds has been awarded to Caribbean firms. $913,901 USD

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In an effort to generate more deal flow and increase awareness amongst the early-stage business community pitch competitions were held in 5 countries (Bahamas, Antigua and Barbuda, Saint Lucia, Grenada and St. Vincent and the Grenadines) which enabled companies to pitch and win $5,000 USD. Out of 146 of companies applying to pitch four winners were selected. They were;

Findrpro - Based in the Bahamas FindrPro is changing the way home maintenance projects get done. Providing a one stop solution the FindrPro app connects consumers with a reliable network of service providers facilitating instant estimates and price ranges for desired services. It also helps service providers find new customers to grow their business. www.findrpro.com Algas Organics – Based in Saint Lucia Algas Organics is proud to be the Caribbean’s first indigenous agriculture biotechnology company. Focused on the development of environmentally-friendly agricultural inputs which maximize crop performance and grower profitability, they utilized the invasive Sargassum seaweed to create world class agricultural products. www.algasorganics.com De Jeunesse Bath and Body Products - A company that manufactures high-quality, natural bath and body products. Offering a premium product that is handmade using a range of locally sourced ingredients they uniquely package their product with scented recycled seed paper, giving consumers an opportunity to grow their own lettuce or tomatoes! www.facebook.com/de.jeunesse.bb/ Carivan – Hailing from St Vincent and the Grenadines, Carivan provides a bespoke online shopping experience designed exclusively for Caribbean made products and services. The online store enables regional producers to sell to international consumers that are looking for Caribbean products using their industry standard online payment systems. www.thecarivan.com

in a pitch competition. 4 companies were awarded $5,000 USD

MAKING THE DEALS

During the implementation period, LINK- Caribbean disbursed Co-Investment grants to 10 firms who collectively raised surpassing the project target of US$1.5M. 7 companies received Co-Investment grants totaling $543,901 USD investment exceeding US$2M,

With the aim of enabling entrepreneurs to raise capital from private investors, principally business angel investors and to develop a pan-Caribbean early-stage investment community, with a focus on angel investors in the region, institutional investors and diaspora investors via the creation of a Caribbean Business Angel Network (CBAN), the LINK-Caribbean programme supported with the provision of Co-Investment grants. Co-Investment grants offered supplementary funding to enterprises that can raise investment from business angels and other early-stage investors by providing grant funding of up to 50% of the capital injection received from the investor. This funding essentially provided additional funding – beyond what investors are able to offer – to help early-stage enterprises develop and grow. During the implementation period, LINK-Caribbean disbursed Co- Investment grants to 10 firms who collectively raised investment exceeding US$2M, surpassing the project target of US$1.5M. Of those 10 firms, 5 had been recipients of investment readiness grants which was instrumental in their ability to secure private investment. They are Caribbean Transit Solutions from Barbados; Sweetie Confectionary, Herboo, Rocksteady and Bluedot Media from Jamaica.

CARIBBEAN TRANSIT SOLUTIONS

Beep Beep!!

Across the Caribbean there is little to no information readily available for commuters and tourists using buses or taxis. There are not the wealth of mobile app’s like Uber, Lyft or CityMapper to help you get around, but that’s all set to change with Caribbean Transit Solutions (CTS) providing a suite of applications to provide a service not only to commuters but also for fleet management. Established in 2014 by Khalil Bryan CTS brings efficiency to the Caribbean transport system through the provision of real-time and on-demand information on public transit vehicles as well as private vehicle fleets. CTS aimed to solve the frustrations and issues commuters and private fleet managers have due to the lack of information with the three main products that provide public transportation and vehicle information; • BeepCab – for consumer to book and pay for taxis from smartphones • BeepBus – allows commuters to find bus routes and options to use buses on demand (soon to include real-time bus information) • EasyTrak – offer fleet manager a user friendly way to track and manage vehicles more effectively and reduce risk

“Our focus is to create solutions that solve local transportation problems and frustrations and provide customers with information that will allow them to make the best decision on the use of their time.” Khalil Bryan

Co-founder and Business Lead

CARIBBEAN TRANSIT SOLUTIONS

Like many entrepreneurs Khalil had a vision but needed to raise capital to make it reality. Unlike many start-ups in the Caribbean Khaili was not turned off by the notion of gaining investment from a business angel in exchange for equity in his business. In-fact he sees it as an opportunity to gain the expertise, mentorship and a true partner to help grow and propel the business forward. Khalil originally pitched to the Barbados based angel group Trident Angels in 2015 but was unable to secure any investment. Upon learning about the LINK-Caribbean programme’s investment readiness grant Khalil and his business partner Veronica Millington jumped at the chance to get the cash injection of $25,000 USD to be used to develop their business proposition. Pitching within the first cohort in 2016 Khalil delivered an impressive pitch to a panel of judges that saw the potential of the CTS business proposition. The grant was very much an enabler facilitating three major activities to support their business development amongst others. CTS focused on increasing their local market presence through ramping up social media and digital presence in addition to launching a crowd funding campaign to launch their BeepBus app. CTS were also able to improve key portions of their BeepCab app increasing its stability and customer

The company now operates EasyTrak in Barbados, Trinidad,

and St. Lucia, as well as BeepCab in Barbados.

engagement and also purchase the platform from the original developers so that the proprietary intellectual property could be developed. The added visibility as a result of participation in the LINK-Caribbean programme contributed towards the CTS being placed in the spotlight with regional business angels and ultimately supported the discussions with Trident Angels who eventually went on to provide CTS’s first angel seed investment. It is this investment which was supplemented by a co- investment grant of $50,000 USD.

The company now operates EasyTrak in Barbados, Trinidad, and St. Lucia, as well as BeepCab in Barbados. Available for Android or iOS, BeepCab alerts the taxi nearest to the rider and they are planning to expand their footprint across the Caribbean to Jamaica, Trinidadian and Tobago, St. Lucia, Martinique and Guadeloupe. It’s clear that this is only the beginning for CTS. The team are set to leverage every opportunity that comes their way to grow and transform the region’s transportation systems.

SWEET TASTE OF SUCCESS

Patria-Kaye realized that there were no candies in flavours that Caribbean people could relate to like jackfruit, mango, guava or June plum.

The Sweet Taste of Success

Success comes in many forms, but none sweeter than Paradise Plum! That’s just one of the traditional flavours Jamaican based Sweetie Confectionary has brought to the market. The brainchild of owner Patria-Kaye Aarons who founded the company in 2013 with the vision of bringing authentic Caribbean fruit flavours to commercial candy. Sweetie Confectionary now boasts to be the fastest growing commercial candy company in Jamaica and exports to the USA, UK and US Virgin Islands. It all began after buying her 5-year old Goddaughter some imported candy she read the wrapper and asked “Auntie - what is a blue raspberry?”. Stumped, Patria-Kaye didn’t quite know how to answer because there actually is no such thing as a blue raspberry found in nature. Further, raspberries which are typically red or purple in colour aren’t commonly found in the Caribbean. Patria-Kaye realized that there were no candies in flavours that Caribbean people could relate to like jackfruit, mango, guava or June plum. With that Patria-Kaye set about producing a line of candies to satisfy the local and international market namely the diaspora longing for a taste of home. She left her 17-year full-time career in marketing to start her candy making business. Initially working with the Scientific Research Council Patria-Kaye was able to create the range of flavour profiles for her products and what made Sweetie stand out was that the flavours are made from the oil extractions of the actual fruits; they contain no artificial flavours which give a much more authentic taste. Once she had her products perfected she was quickly able to establish distribution into 150 locations across Jamaica within her first year. Despite this impressive start, Sweetie like a lot of early-stage businesses was challenged when it came to raising capital to support its growth and expansion. Finding it easier to

SWEET TASTE OF SUCCESS

get a car loan than a business loan, Patria-Kaye leveraged the misfortune of a car accident to deposit the insurance cheque into the business and get a car loan to replace her car that was written off. Fast forward to 2016 Sweetie was in the position where the company needed to scale up. Having partnered with the other local commercial candy manufacturing company who were able to provide the factory facilities Patria-Kaye needed expand production and buy new machinery. Turning to angel investment Patria- Kaye was able to secure a US $25,000 investment readiness grant from the LINK-Caribbean programme to help put her on way to do just that. With the funds she was able to make the required developments to her business that made it investment ready and after securing investment from First Angels Jamaica in 2017 the company moved to a 4000 square feet facility in Clarendon. Running at 24-hr operation naturally requires more staff and so the company has been able to increase its staff complement to twelve people with all but 2 having been unemployed and living in the local area. This candy factory makes a real difference to the local community and it’s production has increased sixfolds

Turning to angel investment Patria-Kaye was able to secure a US $25,000 investment readiness grant from the LINK-Caribbean programme to help put her on way to do just that.

Disrupting Caribbean Advertising

When it comes to disrupting the proverbial apple cart Larren Peart seems to be an expert. Founded in 2016 Bluedot Media burst in to the Jamaican advertising scene providing a suite of new broadcast mediums that offered brands a measurable and targeting advertising solution.

DISRUPTING CARIBBEAN ADVERTISING

Larren understood that consumers were exposed to an increasing number of platforms vying for their attention, most of which had limited brand reach. Further, getting and keeping consumers’ attention is harder than ever as traditional mediums use a broad-brush to spread messages to wide cross sections of consumers which is inefficient and not cost effective. In view of this Bluedot Media set out to disrupt the spaces where consumers currently reside and create new spaces for them. The company wanted to attract consumers through utility, convenience and rewards and importantly collect data from consumers to enable refined targeting. Bluedot’s solution is the only existing product that allows advertisers to directly target the “banked” population, a key demographic. Larren applied for an investment readiness grant in 2016 and delivered his pitch at the headquarters of Caribbean Export in Barbados to a panel of judges. His engaging pitch enabled the company to receive the US $25,000 cash injection to investment in developing the business to be more attractive to investors. For Larren it was important to get angel investment as he explained “We were at the point of growth in the company where we could either continue to bootstrap and grow slowly and organically or get some sort of capital injection either through debt or equity.” With the investment they were

able to purchase software and hardware that would improve the product offering and their ability to advertise in ABN/ ATM and collect the data for analytics. With the wealth of data being collected Larren saw an opportunity to focus more on the delivery of data analytics to companies and transitioned his company to do just that. As a result Bluedot Insights was born providing full service research and data to a suite of companies across a range of industries such as banking and finance, tobacco and many more. The company has partners in Barbados and Trinidad and now employs eight people. In a relatively short space of time they have become pioneers in business data insights across the Caribbean, U.S. and Canada and claim to have the most comprehensive research toolkit available to deliver the only benchmarking system built on transactional, emotional and scientific platforms to discover powerful insights and develop actionable recommendations. Since participating in the LINK-Caribbean programme Larren has found that receiving investment from angel investors or venture capitalist not only gave them great PR but also “forced us to implement reporting procedures that we didn’t have otherwise. Which has helped us in our day to day operations because what can’t be measured, can’t be managed” he shared. “I am extremely

His engaging pitch enabled the company to receive the US $25,000 cash injection to investment in developing the business to be more attractive to investors.

grateful for everything they have done for my company, we would not be where we are now, which is looking to IPO in 2 years if it was not for the funds received.”

From Cottage Industry to Global Production

Three friends, in a bedroomwith a table top stove, 1 measuring cup a funnel to a well-oiled machine that has proper systems in place wasonly thebeginning for Herboo in 2015.

HERBOO manufactures organic sustainable personal hair and body care products using Jamaica’s finest herbs and spices. Not uncommon for small startup companies Herboo was challenged in raising the capital to grow explained Javin, “We tried raising capital through the traditional medium of getting a bank loan however the prerequisites needed was just unattainable for a startup not to mention collateral. In addition, banks are more focused on making a profit on their loan and ensuring we can pay it back.” Javin saw the opportunity to gain angel investment as a means to not only secure funds, but also gain useful genuinely want to see young companies become successful and to help their communities and economy flourish. Most individuals who are apart of Angel Investing are usually entrepreneurs themselves, so they understand a lot of the obstacles we will face, and they know how to maneuver them. The other obvious thing is that the Angels come with a wealth of knowledge that will help our company to grow.” being unsuccessful, Javin applied for a LINK-Caribbean Investment-Readiness grant which enabled the company to make some significant changes to become more investible. After initially approaching Alpha Angels in Jamaica and knowledge “with Angel Investments these are a group of individuals who

Using the grant to enhance the products branding and packaging to stand-up against international competition, build the company’s internal capacity and secure a distributorship Javin was able to make the necessary steps to become investment ready. Javin was determined to secure a business angel as he wanted to gain the continued support that comes with a deal, “the knowledge and skill set of my investors and board members are extremely valuable and that is something that I could not pay for. With the help of Angel

Investment, we have been able to setup a formal board of directors who meet every month to assess the company and ensure we are on the right path. My board has been working somewhat full-time to ensure the company has all the key elements covered from developing a marketing plan to fine tuning our 3-year budget and even securing new markets with huge sales potential and it has only been 4 months. I am truly excited as to what we have accomplished together and remain very optimistic as we look to the future potentials of our brand.”

The company’s target market includes health-conscious individuals both male and female in the Caribbean, USA and Europe between ages 27-55 in an organic cosmetic market which grew from US$3.6 Billion in 1997 to US$43.3 Billion in 2015. that Herboo stands out because of its firm stance on being an advocate for nature and that it does not use synthetic material in their beauty products. “Our beauty product line is manufactured Noting that the industry is very competitive Javin says

COTTAGE TO GLOBAL PRODUCTION

“Before Link- Caribbean we were thinking to grow our company by just selling and saving on a small scale, however the organization allowed us to start thinking bigger than just a few stores in Jamaica”.

with herbs and spices found right here in Jamaica. These include Jamaican rosemary, peppermint and lemongrass,” he emphasised. This is achieved through a leadership team of 4 young enthusiastic entrepreneurs with varying backgrounds in entrepreneurship, marketing, science, and operations who he says, “who work extremely well together.” Speaking quite candidly Javin shared that the LINK-Caribbean programme had been a huge blessing and credited his company’s growth and success to LINK-Caribbean, “Before Link- Caribbean we were thinking to grow our company by just selling and saving on a small scale, however the organization allowed us to start thinking bigger than just a few stores in Jamaica”. Javin was able to pitch to First Angel Jamaica

and secure investment which has been supplemented with the Co-Investment Grant from LINK-Caribbean increasing the overall investment. It’s now time for Herboo to scale-up from a small business to a big corporation. Having secured one of the largest distributors in Jamaica for personal care products they are able to help a lot more individuals across the country. They are already exporting to countries such as Cayman Islands, Barbados, United States and Canada and intend to continue growing.

Having purchased a derelict coffee farm in the heart of the infamous Jamaican Blue Mountains, they were able to bring the farm back to life, providing jobs for the local community through growing and manufacturing the coffee within the Rocksteady farm and manage the consistency of the flavour.

Jamaican Blue Mountain Coffee That Rocks! Born out of a sheer desire to make a difference and provide an exceptional product Ricardo Forbes launched the Rocksteady Coffee Co. in 2012. Taking ownership of the full process of coffee production Rocksteady ethically farm, manufacture and distribute a single origin, gold standard, gourmet 100% Jamaica Blue Mountain Coffee product. Whilst Jamaican Blue Mountain Coffee is recognized as one of the world’s best coffee’s attracting a premium price Ricardo saw that there was a lack of diversification and the industry had been experiencing a steady decline in the quality of the blue mountain coffee he was seeing in the market. Living in Canada at the time, Ricardo saw the opportunity to return to his country of birth and follow his vision to produce a premium gourmet specialty coffee in terms of taste and packaging at a fair price. What set’s Rocksteady apart is their single origin approach. Having purchased a derelict coffee farm in the heart of the infamous Jamaican Blue Mountains, they were able to bring the farm back to life, providing jobs for the local community through growing and manufacturing the coffee within the Rocksteady farm and manage the consistency of the flavour. But when it came to scale up his business angel investment was seen as a natural fit in view of the nature of his product, “Rocksteady Coffee is a premium product that requires time and patience before going to market” he explained. “Angel Investment is much more manageable for me to scale up”. Ricardo first applied for an investment readiness grant under the LINK-Caribbean programme which he used to increase marketing and promotion of the company and to develop an e-commerce website powered by the Shopify platform enabling customers to shop directly.

COFFEE THAT ROCKS

Rocksteady Mountain Resort Ltd has been able to hire local farm hands and utilize some of the most skillful and knowledgeable coffee farmers in Jamaica.

the lack of work available to young school leavers and adults. Rocksteady Mountain Resort Ltd has been able to hire local farm hands and utilize some of the most skillful and knowledgeable coffee farmers in Jamaica. With this new investment Rocksteady has been able to expand the farm and employ more people contributing to the economic development of the community.

Through the process of participating in the LINK- Caribbean programme and pitching to business angels Ricardo learnt how important it is to communicate what potential investors need to know about his company in order to make that investment decision. LINK- Caribbean provided many of the tools and the guidance to support this process and since receiving the IR- grant, he has gone on to secure Angel Investment and a Co-Investment grant to supplement the overall investment received. Over the past 10 years or more the Regale, Cascade Portland community where the Rocksteady farm is located there has been population decline due to

Co- Invesment Grants Awardees

Crafton Holdings Crafton Holdings supplies liquid eggs to hotels and food businesses across the Jamaica under the brand Super Fresh Liquid Eggs. Salmonella is the most known cause of food borne illness in the Caribbean. With a large tourism sector the demand for safe eggs by hoteliers is huge. Hotels are also faced with the inefficiency of manually cracking eggs which increases cost and wastage. Further there has been an increased demand for egg whites only also creating more challenges to hotels. Super Fresh Liquid Eggs solves these challenges as their product goes through the pasteurization process killing

salmonella, ecoli, lysteria, coliform and other bacteria. Super Fresh Liquid Eggs also simplifies the process of making products which contains eggs by reducing the time to crack eggs; reducing the time to separate egg whites from yolks as well as creating a specialized egg product for baking. There are currently 4 products offered: pasteurized whole eggs, pasteurized egg whites, pasteurized egg yolks and bake easy (for baking purposes only). For more information on Crafton Holdings contact Damion Crawford at craftonholdings@gmail.com Loan Cirrus LoanCirrus is a Lending Management System that offers a cloud-based software subscription service to lenders. Proving the service to lenders in more than 20 countries, 170 currencies and in 34 languages helping lenders do better lending. Based in Kingston, Jamaica Loan Cirrus providers a simple, beautiful way for lenders to manage loans. For more information visit - www.loancirrus.com

CO-INVESMENT GRANTSAWARDEES

are also supporting smaller chocolatiers with marketing and branding expertise and in working with Government departments and development agencies to find ways to simulate the cocoa sector by offering third- party processing for farmers. TTFCC has been working with 80 partner cocoa estates to develop a unique flavour library which can be traced to origin for the high-end market. The company’s primary audience is the specialty food market targeting hotels and restaurant however they also sell milk and dark chocolates through retail outlets such a high-end UK chocolatier, Artisan du Chocolat whom currently retails our ‘steel pan’ tin design in five flavours (milk, dark, guava, pepper and cashew). TTFCC has partnerships with established brands such as Angostura Distilleries and Harrods of London to offer a unique chocolate experience. For more information on the Trinidad and Tobago Fine Cocoa Company visit www.ttfinecocoa.com Summer is looking to reach customers want real food, healthier beverage options, and to know where their food comes from in terms of ethical and sustainable sourcing. Their customers make buying decisions which make them feel good knowing their money is supporting employment in a developing nation and positively impacting the livelihood of small farmers. We want to fulfill the customer desire to make conscious purchasing decisions on products that are high-quality. Started by a Canadian couple, Jim Jardine and Stephanie Ryan the company is proud to provide a growing market and revenue for produce. This in turn encourages the expansion of island planting. For more information on Summer limited visit www.summer.gd

Trinidad and Tobago Fine Cocoa Company The Trinidad and Tobago Fine Cocoa Company (TTFCC) is the first fine flavour chocolate company in the history of the country. Its purpose is to produce 50 metric tonnes of cocoa products for the domestic and international market. The factory is a state-of-art cocoa processing facility which can produce a range of products including roasted cocoa beans, cocoa mass (100% cocoa), coverture (restaurant chocolate) and finished retail chocolate. Currently producing chocolate bars and a speciality item known as the ‘steel pan’ chocolate tin. The processing facility allows the maximization of the ‘in-country’ value of the bean and pay a higher price of almost 40% to the famers. TTFCC

Summer Limited Summer Limited produces juices, nectars, herbal waters and fresh coconut water from locally-grown fruits in Grenada. Summer purchases from a wide variety of farmers, both small producers and large commercial growers. Summer ensures it is purchasing from legitimate farmers by visiting the farms and estates to guarantee the ownership of the fruit and confirms that good farming practices are used for harvesting the best quality produce. Summer purchases fruit from over 250 island farmers.

CO-INVESMENT GRANTSAWARDEES

to e-books and credit cards. Readers face a fragmented reading experience having to use several different applications to read and manage their digital library. BookFusion provides a platform that gives authors and publishers the technology to distribute their creative and cultural content with greater control on pricing discounts and rights. We offer global market access, full transparency on sales, reader data and higher royalties. Readers are able to store, manage and discover ebooks of any format, from any device. Facilitating easier access to eBooks, we introduce BookCards that can be purchased at a physical location and redeemed online. For more information on BookFusion visit - www.bookfusion.com

Bookfusion BookFusion is an open and global eBook platform providing new publishing solutions to authors and publishers in emerging markets; while delivering interactive reading tools that engages readers and enhances students’ educational process. BookFusion facilitates the controlled lending of eBooks across multiple platforms allowing users to read, share, organise, bookmark and sync. The issue in many emerging markets is that authors have limited means to publish eBooks for global distribution and insufficient access to publishing and authoring tools. Current platforms like Amazon demand up to 70% of sales while dictating format, prices and rights. Furthermore, readers are forced to consume books in hard copy because of a lack of access

Companies to LookOut For that were Awarded Investment Readiness Grants

OperAid integrates several components of Process Safety Management into one digitized solution which minimizes the risk of human error in high risk industries such as nuclear power, oil & gas or chemical processing. The OperAid solution provides data analytics on behavioral patterns which, can detect potential risky methods of executing standard operating procedures. It also flags relevant personnel when non-compliance of procedures by the field technician is detected. It would also improve the Technician’s competence/knowledge by virtual assessment and training in the field. For more information on OperAid visit www.operaidsoft.com

SystemIZ

SystemIZ has developed OperAid software which ensures process compliance by Field Technicians. It reduces Operational risk while increasing safety and performance of Technicians.

COMPANIES TO LOOKOUT FOR

restaurants; browse menus and securely order and pay for food to be delivered. 7Krave has been developed on the Android mobile platform and website and is positioned as the ‘GrubHub’ for Jamaica connecting users (‘foodies’) to partnering restaurants. 7Krave allows its users to browse a restaurants’ menu and order food to be delivered for a service fee. The restaurant also pays a commission fee per order. 7Krave was built to create a social food community that connects food providers to food lovers. For more information on 7Krave visit www.7krave.com

INNOVATIVE MENU SOLUTIONS

7Krave by Innovative Menu Solutions (IMS) lets consumers search their favourite dishes and

The Caribbean’s primary health-care systems are under significant financial strain due to an inefficient system for interdisciplinary medical communications and care coordination among healthcare providers. This has contributed to unnecessary patient readmission costs, high patient dissatisfaction and prohibits providers from properly addressing the rising cost of providing care to patients with non-communicable diseases currently in excess of approximately $90 Million in major Caribbean territories. CarePoint solves the coordination and communication problem between doctors, their patients and other healthcare providers by using secure automated text messaging. For more information on CarePoint visit www.carepoint.co/

CarePoint is a modern patient management solution for doctors to easily communicate with patients and other healthcare providers using automated text messaging. Clinics typically use these messages to stay in contact with patients’ in-between visits, securely share patient notes with clinical staff or refer patients to other health centers while monitoring the progress of care. CAREPOINT

COMPANIES TO LOOKOUT FOR

(EMD) to Roadside Assistance. Once the user engages with the First Alert app the call centre professionals automatically receive users’ profile, medical history, and precise geo- location giving them the ability to provide the required emergency response solutions using internationally approved protocols. Over the past 25 years, EMS systems across the globe have continued to face complex problems, many of which have come into full public view. When one considers the current medical landscape in Developing nations, emergency trauma response is largely seen as the weak link in the chain of patient care. In many instances, there does not exist, well established Emergency Medical Dispatch (EMD) systems and therefore in many cases of medical emergencies, no immediate solution is available. For more information on First Alert visit www.getfirstalert.com brands to help inform how they access new markets. Launched in June 2016 the Radial has over 2000 users and is available in over 45 countries. With over 900 artists on the app and more than 130k songs plays, the app continues to grow at over 40% month over month. For more information on Yabil Inc. contact Andre Thomas at hello@yabil.com

FIRST ALERT

FIRST ALERT is the world’s first complete mobile-native Emergency Dispatch platform, delivered primarily via a patented smart-phone application. First Alert provides a range of emergency dispatch solutions within a single platform. Powered by the most modern cloud technology and delivered primarily via a patented smart- phone application (Android/iOS ), First Alert provides a range of emergency dispatch solutions within a single platform. With a simple tap of a button, subscribers are connected to a 24hr dispatch centre, that offers a range of solutions from Emergency Medical Dispatch

YABIL INC

FWhen you live outside of ‘home’ for a really long time, you realise how challenging it is to discover new hits and to rediscover music you loved before. On the other side, as an artist or brand, you want to know where your next fan or customer is. That’s where Radial comes in. Developed by Yabil Inc, Radial is a mobile app that connects people in the diaspora to ‘home’ through music. Using the gathered data from Radial, insights are provided to artists and

COMPANIES TO LOOKOUT FOR

by enabling them to express their needs, wants and psychological/physiological states like pain and hunger remotely to the carer. Providing a web and mobile platform that facilitates remote communication and care management for bedridden and stroke patients even if they have lost mobility and speech, Communicare is a subscription service for institutional, hospice and home care. The solution handles medicine scheduling, mood and other important metrics for patient care, comfort and progress. For more information on Communicare visit http://www.raiora.com/communicare.html Wanderscape provides a solution to this with a mobile app that connects travelers to authentic experiences with locals. This slick app connects in-destination travelers with local insiders that share experiences allowing them to travel off the beaten path and be immersed in the local culture. In addition, local guides and / or artisans are able to earn money through sharing these experiences. Travelers can create lists of their favourite things to do and share with friends, chat with insiders, get recommendations of things to do and book experiences all within the app. With tours and activities being the fastest growing segment of leisure travel, with an average of over 100 billion experiences booked globally per. year, the Caribbean market is a great emerging market. Wanderscape is the Caribbean travel app that connects travelers to authentic experiences with locals through a smart AI and immersive VR. For more information on Wanderscape visit WWW.GOWANDERSCAPE.COM

Communicare is a health technology provider that helps improve care for the in bed patients though enhanced remote communication and care management insights. Communication for patients can be difficult especially if they have lost the ability to move or speak. Communicare makes communicating with, and by extension taking care of, incapacitated patients easier RAIORA- COMMUNICARE

Wanderscape is a travel app that connects travelers to authentic experiences with locals, allowing them to be immersed in local culture. There’s been a shift in travel trends as millennial travelers now seek authentic, off-the-beaten- path travel experiences that immerse them in the local culture when they travel. This shift is also complimented by the fact that millennial travelers would prefer recommendations of things to do from friends, social peers and trusted experts as opposed to reviews from travel sites. Further, the Caribbean region is plagued by a poor booking and e-commerce infrastructure, affecting credit card payments. WANDERSCAPE LIMITED

COMPANIES TO LOOKOUT FOR

Instead of using the yellow pages to call a local store or driving around in search of a particular product the Vinelist uses technology to enable users to post product requests and connect them to relevant local partner stores. The company charges local stores a subscription fee to get access to very targeted pre-qualified leads that are generated through this process of posting by consumers. Since launching in 2016 over 1000 leads have been generated with 67% resulting in stores visits and 35% converting to products purchased from the stores Vinelist recommended. For more information on The Vinelist contact Mannin Marsh at hey@thevinelist.com management, disorganized offices, paper pencil diaries, poor business intelligence and the general hassle of trying to provide a service whilst managing administration and operations simultaneously. SKED solves this problem by creating a web-based management tool for service providers that allows businesses to manage their schedules, clients, business and staff from the SKED application. Also offering a mobile application, that allows clients to see available appointments and enabling them to book appointments in real-time, the solution eliminates the back and forth conversations. It also provides automatic SMS, email and PUSH reminders eliminating the need for telephone reminders. SKED is a subscription-based service that allows their clients to book appointments without having to call into them. For more information on SKED visit www.skedonline.com/

THE VINELIST

The Vinelist is an online platform that provides shoppers with an alternative way to find products. Across the Caribbean there are gaps in technology that make it more challenging for consumers source the various products they need or find businesses who sell them from an online site. It also means many retailers are unable to promote what they have via an online shop front and captialise on repeat customers.

SKED TECHNOLOGIES

SKED develops and designs technology solutions to help service providers manage their business thus freeing their time so that they can live a better organized and stress- free life. Booking appointments can be a chore, having to make phones calls with back and forth conversations to simply set an appointment. The service provider themselves have to deal with client no-shows, poor scheduling and time

REGIONAL ANGEL GROUPS

Angel networks are an important method for providing an introductory service to potential deals, connecting like-minded individuals to share the workload, accessing the collective wisdom of others and syndication of deals. As such angel networks often overcome the many challenges associated with solo investing and investing in risky environments, such as emerging markets like the Caribbean. The Caribbean Business Angel Network (CBAN) was established the support the LINK-Caribbean and aimed to improve access to investment opportunities throughout the Caribbean, for angel investors. It is focused on connecting investors with start-up, early-stage and growth companies seeking finance; increasing Caribbean deal flow. CBAN (formerly the Regional Angel Investor Network) worked with angel investor groups in the region and through joining CBAN investors were able to; · Gain access to pre-screened Pan-Caribbean deal flow · Network with like-minded investors through the online platform as well as at periodic events such as the angel investor forum · Gain access to resources for angel investors including sample investment documents, best practice materials and other knowledge resources · Receive assistance with new group formation and development

Angel groups in the Caribbean.

Alpha Angels Montego Bay, Jamaica

Alpha Angels is a network of investors who are leaders in the entrepreneurial community in the Caribbean. Primarily based in Montego Bay, the group of 15 Angels hopes to encourage the growth of early-stage ventures in Jamaica and the Caribbean through seed-stage investments and is committed to giving back to Jamaica and the Caribbean by investing in early-stage companies with the potential to scale overseas. The group looks for investments where they can add value by passing on their business experience, enjoy working with entrepreneurs and generate returns. Alpha meets on a periodic basis and meetings are convened for pitch events. Last year 8 entrepreneurs delivered their presentations to the Angels. The team is led by Yoni Epstein who plays a vital role in the sustainability of the group. The Network Manager Opal Levy continues to meet with entrepreneurs and works towards preparing them for pitch events and assisting in the building of their businesses. Ms. Levy is currently engaged with 15entrepreneurs. Since inception Alpha has committed to two investments, MSurvey and UCC. MSurvey has already received funding and Mr. Epstein is on the company’s board. The engagement with UCC includes non-capital investment in time and strategic advisory, while the financial terms are still being formalized.

First Angels Jamaica Kingston, Jamaica

FirstAngelsJA (FAJ) is Jamaica’s first angel investor network, started in July 2014 by a group of committed Jamaican businessmen and women who wished to facilitate the matching of entrepreneurs with potential investors through a formal screening process, presentations to members and other mechanisms. FAJ’s members provide “patient capital” to privately held companies or ventures typically in an early stage of development. Their main motivation is to play a critical role in the entrepreneurial process, supporting the start-up of ventures that have high growth potential, as advisors and mentors, contributing their wisdom and expertise in nurturing Caribbean entrepreneurs and their companies. FAJ’s vision is to tap into the growth prospects of high potential, entrepreneurial ventures in thewider Caribbean region, while contributing to the creation of an “entrepreneur-friendly” ecosystem. In that regard, FAJ performs a number of roles, including engaging in regular dialogue with Government, opinion formers and leaders at the national level to shape policy for the benefit of local industries, facilitating a connected finance ecosystem between angels, financial institutions and other sources of early stage funding, both traditional and non- traditional; enabling the regular exchange of experience and good practice between all those engaged in the early stage marketplace; building capacity and know-how among the investment community and creating links with other like-minded organisations at the local, regional, national and international levels. As of April 2017, FAJ has 29 members – 22 investor members and 7 associate members - and has made 8 investments in 5 companies totaling over US$800,000 (100 million Jamaican Dollars).