Chief Executive Officer (CEO) of the Jamaica Business Development Corporation (JBDC) Valerie Veira (left), and Manager of First Angels Jamaica, Sandra Glasgow, sign a Memorandum of Understanding (MOU) to provide business support to micro, small and medium-sized enterprises (MSMEs) at the Courtyard Marriott Hotel in New Kingston, recently.
The Jamaica Business Development Corporation (JBDC) and First Angels Jamaica (FAJ) have signed a three-year Memorandum of Understanding (MOU), under which micro, small and medium-sized enterprises (MSMEs) will receive assistance to deliver winning business pitches.
The FAJ is an angel investor group that backs the start-up ventures of aspiring local entrepreneurs.
JBDC Deputy Chief Executive Officer (CEO), Harold Davis, said the MSMEs will benefit from a range of business services under the entity’s recently launched accelerator programme.
“What this MOU does is really enable entrepreneurs to approach an angel investor for financing,” Mr. Davis noted.
“It will facilitate businessmen/women who need help in tweaking their business models, market access strategies, proof of concept for the businesses and pivoting of business models… . We will do all of that work to prepare them,” he further shared.
Mr. Davis noted that many entrepreneurs either lack confidence or are ill-prepared to sell their business ideas.
He said that through the services provided under the accelerator programme the entrepreneurs would be ready to engage an investor in the FAJ group within three to six months.
To benefit from the MOU and the financing that comes from an angel investor, entrepreneurs must register with the JBDC’s accelerator programme.
The FAJ is one of two angel investor networks in Jamaica, the other being Alpha Angels in Montego Bay.
An angel investor, also known as a business angel, informal investor, angel funder, private investor, or seed investor, is an affluent individual, who provides capital for a business start-up.
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JIS
Welcome to the official website of the Ministry of Industry, Investment and Commerce.
The Ministry of Industry, Investment and Commerce is described as Jamaica's "Business Ministry." It's mandate is to lead the development of policies that will create growth and jobs, while achieving social inclusion and consumer protection. The Ministry, working its stakeholders is primarily responsible for business policy development, monitoring and evaluation, while giving direction and oversight to a cluster of implementing departments and agencies.
We have, therefore, placed much energy and enthusiasm into the development of this website to provide timely information on the Ministry, our agencies and programmes.
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