Primed for Success Volume 3

Building Success In The Tech Age

Nearly six years after Apple Inc. kicked off the mobile-application craze, the industry is steadily booming. According to ICT-Pulse Blog, at the end of 2013, there were 136 mobile customers for every 100 persons in the English-speaking Caribbean, with 14 of the 16 countries studied having mobile penetration rates over 100%. This equates to countless opportunities within the mobile apps market for regional businesses that specialize in this area.

In Barbados, there is at least one company that is hoping to break into the local and global app market. Incorporated in 2007, Simplified Apps Inc. specializes in mobile appli-cation development. The firm currently has four developers on staff, but they also work with consultants depending on the nature of the project they are undertaking. “All of the persons working with us right now are independent contractors, it keeps us agile, and that is what you need in a business like ours, especially because of the risk involved in developing your own intellectual property” shared Founder, Curtis Padmore. The former software engineer is also the Co-founder of an animation company West Toonz, which currently has 15 animators on contract with the expectation to increase within the next year as a result of a partnership with the locally-based Barbados Institute of Management and Productivity to deliver training to between 25 - 50 animators. Unlike the mobile apps industry, Curtis sees the animation sector as a little less risky because of its deeper history. “Animation to many is a real industry. It’s been around since Disney and Steam Boat Willie, and we’re talking about since the 1950s. So it is a tried and tested industry. With the mobile app sector it’s a bit different.” One similarity that both industries share however is the challenge involved in accessing finance, particularly during the start up phase. Curtis believes that many financial institutions are quite conventional in their approach to these types of businesses. He, however, believes that this industry is prime real estate for angel investor and venture capitalists. “Their appetite for risk is higher, but they also take a bigger stake and greater rewards. They probably always seek ten times the return on their investment.

So yes the technology side is risky, but the potential gains are huge.” Curtis describes the mobile app industry in Barbados as being very small, which means that the objective would be to scale out quickly because of the size of the user base. However, he found his niche by paying attention to details and listening to the needs of clients. “I started this company because I wanted the freedom of entrepreneurship, but this job takes dedication, time, and a stick-to-it-ness that most people would not be able to handle.” The company’s major consumers operate within the tourism and entertainment industries; but there have been some requests from corporate clients for the design of data management applications. Simplified Apps also recently launched a new tourism app after the work completed with Fully Accessible Barbados. “The project is centered on tourism accessibility. The Android version is now available, and we’re moving with the iOS platform shortly.” The company is also collaborating with a firm in Canada to deliver the same product for that market, followed by a roll out for Europe. Some further opportunities for growth also exist in North America, and Latin America. “Right now, we are at the stage of closing a number of deals, so it is a very exciting time for the business and the industry in general.” Curtis’ strategy for entering new export markets is premised on research, in fact the tech-savvy businessman believes that without adequate research failure is imminent when seeking to export a product or service.

Primed for Success / Vol. 3 / 2014-2015

www.carib-export.com

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