Five Barbadian startups set for growth

TBR LAB by Tech Beach Retreat has rolled out its inaugural accelerator program with 38 startups from 11 countries, including five from Barbados.

Executed in collaboration with the world-leading incubator for tech startups, the DMZ based at Ryerson University, the program is designed to connect local talent with the global insights and resources required for them to scale successfully. The DMZ recently announced a major milestone with startups in its portfolio, achieving US$1 billion in funding.

All 38 entrepreneurs enrolled in the 8-week course are eager to leverage the unprecedented access granted by the program, including Khalil Bryan, founder of Caribbean Transit Solutions Limited, a digital platform that provides timely and accurate public transit information to commuters in Barbados.

While Bryan’s 7-year-old company can no longer be classified as an early-stage startup, he applied to TBR LAB to achieve very specific objectives. One month into the program, he believes his company is well on track to achieving its goals.

“As a business in the transportation-tech space which has been operating for five-plus years, the TBR accelerator program has been helpful for us to discuss and refine our go-to-market strategy.

It has also been very helpful to have seasoned entrepreneurial mentors who can help us rethink some of our local and regional opportunities,” Bryan said.

As part of TBR LAB’s first cohort, Bryan participated in an intense curriculum alongside the co-founders of companies based in Trinidad & Tobago, Barbados, Haiti, The Bahamas, Puerto Rico, US Virgin Islands, Cayman Islands, Antigua and Barbuda, the United States and the United Kingdom. They represent a wide range of industries, including food and beverage, online retail, health, and advertising.

Among other things, startups will have access to US$600,000 in perks and resources through partnerships with some of the best tech companies in the world including Stripe, Hubspot and Amazon Web Services.

Twenty participants will also have the opportunity to enroll in Shopify for Startups, a six-month programme facilitated by the global commerce platform. Having participated in other accelerator programs, Bryan appreciates the unique elements TBR LAB brings to the table.

“TBR LAB is tied into an already existing programme, versus creating its own so they’ve leapfrogged a number of potential pitfalls,” said Bryan, who also places great value on the program’s strong network of Entrepreneurs-in-Residence.

With just over a month left in the program, Eric Sonnier, Director of Accelerator Programs at TBR LAB, sees great potential in the first companies to matriculate into the program.

“There are quite a few startups in the inaugural cohort that have the potential to become household names in the region, and from there, scale to other markets,” Sonnier said.

“The startups are consuming knowledge from our global partners at a fast rate and seem eager to test, learn, and iterate – a winning combination at this stage.”

The start of TBR LAB signals a significant step forward for Tech Beach Retreat in its mission to revolutionize the tech landscape in the Caribbean

The US$4 million project is set to provide invaluable instruction, mentorship, and investment opportunities for regional startups and its participants are well-positioned to fast forward their ecommerce plans with a safe, secure and seamless processing system.

The programme is being delivered through a US$1 million partnership with IDB Lab. (PR)