CDB and RevUP Caribbean propel the future generation of Caribbean entrepreneurs with incubation initiative

The Caribbean Development Bank (CDB) and RevUP Caribbean Limited have unveiled the second phase of the RevUP Caribbean Incubation Programme, a biennial project designed to generate employment, expand startup ventures, and enhance innovation throughout the Caribbean region. Building upon the achievements of the initial phase, this new stage aims to support a minimum of 60 early-stage enterprises through targeted business development, mentorship, technological assistance, and improved access to funding, shared a media statement from the CDB.

Lisa Harding, Division Chief of Private Sector at CDB, expressed pride in the partnership, stating,“The Bank is proud to collaborate with RevUP to unlock Caribbean entrepreneurial potential.”

She emphasized the vision for a future characterized by more robust Micro, Small, and Medium-Sized Enterprises (MSMEs), aligning with CDB’s broader goals of promoting private sector development, fostering innovation, increasing climate resilience, and ensuring fair access to financial resources.

The second phase introduces strategic collaborations with the Caribbean Climate-Smart Accelerator (CCSA) and the Caribbean Export Development Agency, which will support the development of climate-conscious and export-ready businesses. Additionally, partnerships with European incubators and accelerators under the EU-LAC Innovation Cooperation Initiative are expected to broaden the global reach of Caribbean startups.

The CDB added that RevUP Caribbean will continue to utilize networks such as FirstAngels Caribbean, along with other investor groups, to facilitate connections between entrepreneurs and potential funding sources, including angel investors, commercial banks, and venture capital firms.

Notable components of Phase II include:

– Startup Pipeline: Focusing on high-potential, women-led, and climate-smart enterprises.
– Capacity Building: Providing customized training to enhance investment preparedness and operational effectiveness.
– Mentorship: Offering guidance from both regional and international industry experts.
– Finance Access: Creating opportunities for startups to pitch for growth capital.

Harry “Tomi” Davies, Chairman of RevUP Caribbean Limited, highlighted the significance of this expansion, stating, “Phase II represents a strategic expansion of our mission to empower Caribbean entrepreneurs,with partners like CDB, the Development Bank of Jamaica, the Caribbean Climate Smart Accelerator, and Caribbean Export, we are driving sustainable and inclusive growth.”

With robust governance and international collaborations, the second phase of the RevUP Caribbean Incubation Programme aims to equip regional entrepreneurs with essential tools, funding, and networks to develop resilient, high-growth businesses that generate employment and contribute to economic transformation across the Caribbean.