Jamaica is truly a GREAT place to build a startup, but most of the early-stage entrepreneurs we speak to are not aware of the local resources that are available to help them.
With applications for the Jamaica Founder Institute now open, we are excited to release the Kingston Startup Ecosystem Canvas, which is currently in Draft v1 below! It was developed by the Jamaica Founder Institute and local leaders Bianca Welds and Stacey-Ann Wilson.
This is just a DRAFT, and while we spent many hours on this research, more input is needed. Please leave your comments on this collaborative Google document to help us complete the list. There are definitely omissions on this current version.
Are you looking to build a startup in Kingston? Then apply to the Jamaica Founder Institute today!
Text version included below, for ease of searching:
Startup Stages
There is no one right way to build a technology company, but for the sake of simplicity we have outlined a basic, common, sequential framework.
1. Idea Stage
This is where new entrepreneurs get inspired, learn best practices, develop skills, validate ideas, and begin to build their team and product.
A. Inspire
- Startup Media: Centralized local information, listings, and news. (i.e. startup blogs/ publications/ lists/ FB groups/ newsletters, Startup Digest)
- Inspirational Events: Open, inclusive, beginner startup events (i.e. Startup Weekend, idea fairs, and inspirational meetups)
B. Educate
- Best Practices: Beginner knowledge-sharing events. (i.e. beginner events that serve to educate more than inspire, like 1 Million Cups, Startup Grind, Startup Founder 101, etc).
- Training & Feedback: Skill & Idea development. (Ex. bootcamps and comprehensive training programs, like Founder Institute, General Assembly, Lean Startup Machine, code camps, etc)
C. Validate
- Team Formation: Resources for teaming up. (i.e. events or other resources that facilitate early-stage recruitment and cofounder matching)
- Build First Product: Hackathons & resources to build. (i.e. hackathons and other builder-focused events and resources)
2. Launch Stage
In this stage, entrepreneurs establish and formalize the company, develop the product, get feedback from customers, and prepare for the next step.
A. Start
- Establish: Law firms & banks for startups
- Citibank
- Dentons
- DunnCox
- FirstCaribbean International Bank
- First Global Bank Limited
- Foga Daley Attorneys-at Law
- Hamilton, Miller & Birthisel
- Jamaica National Small Business Loans
- JMMB Bank
- JN Bank
- Marc Francis Ramsay and Company
- Myers Fletcher & Gordon
- National Commercial Bank
- Sagicor Bank
- Scotiabank
- Scott Bhoorasingh & Bonnick
- Workspace: Co-working and flexible workspaces (note: “official” office space goes in 3.1.a. Infrastructure)
B. Develop
- Formalize: Accounting, development and HR for early-stage startups.
- ABTAX Limited
- Apps Design Jamaica
- BDO
- Blitz Web Design
- Bogle and Company
- Caribbean HR Solutions
- Digita Global Marketing
- Gilbert Thompson & Company
- HR Outsourcing Solutions
- Ja++ Web Design & Development
- Jamaica App Factory
- Panmedia
- ThinkBrite Solutions Limited
- Think Interactive
- UNISOL Business Services
- Xclusive Tech Jamaica
- Prepare for Seed: Incubators and advanced mentorship. (i.e. advanced knowledge sharing, later stage events and resources for startup TEAMS, Startup Next, etc)
C. Launch
- Seed Accelerators: Seed funding mentor programs (Techstars-style programs that provide funding)
- Pitch & Demo: Show local startups for investment (i.e. demo days for companies seeking seed investment)
3. Growth Stage
Here, a startup proves their utility, receives recognition, and scales up. This usually requires funding, angels, VCs, and ways to connect them to startups.
A. Recognition
- Investor Networking: Connect professional investors with founders. (i.e. events or groups that facilitate connections with professional investors)
- Major Media: Mainstream local business press. (i.e. major local or regional publications that frequently champion local businesses)
B. Funding
- Angels / Micro-VCs: Seed-stage investors
- Venture Capitalists: Series A and beyond
C. Growth
- Infrastructure: Office space, HR, local business insurance. (i.e. office space/ HR/ insurance providers for capital-rich companies to grow and scale)
- Expansion: Growth accelerators/consultants. (i.e. programs and business consultants for capital-rich companies to grow and scale)
4. Success Stories
Successful homegrown companies that have raised significant institutional funding, employ a large workforce, or have achieved liquidity.
Supporters
To facilitate the steps, every ecosystem needs strong supporters.
1. Evangelists
Successful local founders who lead the ecosystem & frequently mentor newbies.
- A. Cecile Watson
- Akua Walters
- Alicia Lyttle
- Ative Dennis
- Bevon King
- Bianca Welds
- Bryan Kane
- Christopher Reckord
- Dave DaCosta
- Dennis Jones
- Dionne C. Powell-Cole
- Dmitri Dawkins
- Francis Wade
- Ghaffar Ellis
- Gordon Swaby
- Heneka Watkis-Porter
- Ingrid Riley
- Janice McLeod
- Jermaine Henry
- Joseph Saulter
- Kemal Brown
- Lisa Lake
- Lisandra Rickards
- Lloyd Laing
- Mannin Marsh
- Melarka Williams
- Mike Campbell
- Neil H. Lawrence
- Omar Samuels
- Philip Armstrong
- Rory-Craig Walker
- Saffrey Brown
- Shamoy Hajare
- Tyrone Wilson
- Valrie Grant
- Winston Wilkins
2. Government
Public organizations that facilitate local economic development (ex. Start with the chamber of commerce, “Invest in XXX”, “Economic Ministry of XXX” , “Innovation”, R&D, etc)
- AMCHAM Jamaica
- Entrepreneurship Program for Innovation in the Caribbean
- IGNITE - Development Bank of Jamaica
- Jamaica Business Development Corporation
- Jamaica Chamber of Commerce
- Jamaica Social Investment Fund
- JAMPRO
- Ministry of Science, Energy and Technology
- Montego Bay Chamber of Commerce & Industries
- MSMEs - MICAF
- National Commission on Science & Technology
- Negril Chamber of Commerce
- Start Up Jamaica
3. Talent
Major local business or tech universities and employers that attract and retain local talent.
- Local Universities (universities with prominent technical or business programs)
- Local Employers (Major technical employers, like Microsoft or Google or large local companies, with large local offices, “major technology companies in XX”)
Learn more about the Startup Ecosystem Canvas here, and leave us your thoughts on the Jamaica Canvas on this collaborative Google document (This is just a DRAFT, and more input is needed!)