Invest Saint Lucia’s training on business incubator

In its continuing efforts to launch its Business Incubator and Accelerator Programme, Invest Saint Lucia (ISL), undertook a 3-day workshop from Tuesday 8th to Thursday 10th October, 2019, targeted at agencies providing business support services to the local business community.

The three-day training delivered key basic knowledge and skills on how to effectively manage business incubators, accelerators and co- working spaces.

Day one covered Incubation, acceleration and coworking models, and best practices. The training session provided the agencies with a better understanding of entrepreneurs, business incubation, acceleration and co-workspace models, the model proposed for Saint Lucia, best practices and success factors.

Day two covered managing incubation, acceleration and coworking under the proposed for Saint Lucia. Areas covered included understanding its purpose; developing and communicating its offerings, understanding key policies, client selection, business support services, management and governance arrangements.

The final day dealt with Ecosystem development, mentoring and the business development process and allowed the agencies to map Saint Lucia Entrepreneurial Ecosystem, develop a Mentor Network and explore how to develop and Implement a Business Development Plan.

The workshop was facilitated by Thea Chase of CREEDA Projects, who is assisting Invest Saint Lucia in the establishment of the program. She explained the model proposed for Saint Lucia.