Jamaica’s
entrepreneurship sector has been growing at a much faster pace over the years. A
lot of people are looking into starting their own business. Many of the young
individuals are going into starting technological online based companies. Due
to the fast increase in online companies in Jamaica, Government sectors
partnered with young entrepreneurs to establish the Start-up Jamaica Company.
According to Desmond Mitchell the Interim Managing Director, “The idea of Start-up Jamaica has been around for a couple years. They have put on a variety of different events focusing on young entrepreneurs over the past few years. There was Digital Jamz 1-3 where they focused on bringing entrepreneurs together and challenging them to come up with ideas and have competitions at the end of the day. ” The company was however officially started in September 2014 with a boot camp after which they acquired a floor on the Jamaica National Building Society on Duke street Kingston. This area provides a place for all the young entrepreneurs to grow their business by themselves with the guidance of Mr Mitchell and other mentors.
The Role
The idea of the company
came from the influx of very talented entrepreneurs, which led to the idea of providing
funding, Resources, mentorship and education to these individuals. The company
focus on the different sectors and different areas of entrepreneurship. There
is logistics that focuses on deliveries, connecting formers with consumers,
applications, gamification, and much more. The teams currently focus and the
Caribbean. Most of the companies under the start up Jamaica roof start with their
main target market being Jamaica and then they eventually start to branch into
other Caribbean islands. Currently the
company host different boot camps including their major one week long booth
camp which is held in partnership with Oasis 500.
Start Up
In order to become a
part of the Start-up Jamaica network companies have to complete the application
cycle on the website after which they are selected to attend the booth camp.
Last year approximately 30 teams entered, three were selected to enter the Oasis
500 booth camp. Those three teams are currently in Jordon attending a 100 day
acceleration program
.
Start-up Jamaica
currently focuses on Web and Mobile application companies, but is looking
towards growing from there and helping other small business. Currently they are
actively working with 26 teams mostly stationed in Jamaica but there are about
three teams from different Caribbean islands.
No matter what it is
that you are doing you have to expect that there will be challenges. One the
biggest challenges that Start-up Jamaica faces is bringing together the entire
entrepreneurship society. Bringing everyone together in the different forms can
be a bit challenging at times. However there have also been some great
achievements for the company. According
to Mr Mitchell this include “Seeing some of the teams grow and start to take on
capacity by employing others, seeing them driving revenue, and also seeing
those three teams in Jordon who have receive US $30000 in cash and kind.
As it relates to the online
community in relations to web and mobile entrepreneurs this sector is growing at a very high rate, but not only
growing in terms of ideas but also growing in terms of finding ways to drive
revenue to drive profit and make sustainable business that would make a larger,
far reaching impact. Due to its accessibility more people are starting online
companies, having online company gives you the opportunity to have a greater
impact and to reach more people. Working with technology opens up a whole new
door.
On the other hand Brick
and Mortar companies can be limiting, and it can be very difficult to get in to.
There is high coast of entrance, from finding a certain amount of capital in
order to get a place to rent and acquire certain permits. Whereas web and
mobile barriers of entry are different, thou it’s not necessarily easier but
they are different. A lot of times you just need a computer and team to start
this company.
For the young entrepreneurs in Start-up Jamaica,
demographics are an average 22-24 years old. However anyone can be an
entrepreneur, they just have to develop the right mind set. “A good
entrepreneur should be willing to learn to and take advice, be proactive ask
questions and take suggests. Develop the emotional capacity to understand that entrepreneurship
is a roller coaster it has its highs and lows.
A good entrepreneur also has to be willing to take chances and expect
changes,” States Mr Mitchell.
Every company has to
have a dream in order to grow and expand into different areas of life. For
start up Jamaica in the next 5 year they want to be a vibrant environment in
the Caribbean that people looks to for guidance for mentorship and for support.
They also want to see people working with each other cross the national borders
so each company can be successful and continue to grow.
“Every opportunity is a
chance to learn something new” is the motto that Mr Desmond Mitchell the 26
year old lives by on a daily basis. Thou he too is spreading his wings to new
territories he is expecting great things from each individual company under the
roof of Start-up Jamaica and also from Start-up Jamaica themselves.