Looks
like VC (Venture Capitalism) is been given yet another boost as our successes
thus far is attracting interest, this time from the Jordan-based accelerator
company, Oasis500.
They’re
so impressed with Jamaican entrepreneurial prowess that they’ve decided to
invest some US$300,000 ($33.9 million) in local start-ups by the end of
September as stated in “Middle
Eastern company eyes $30m investment in local tech start-ups”, published
Wednesday, September 10, 2014 by ARENA BENNETT Business reporter,
The Jamaica Observer
To
this end, an initial deal with the Government and the World Bank to invest up
to US$30,000 in 10 tech entrepreneurs under the YEDCI (Youth Employment in
Digital and Creative Industries). That project already got a loan from the
World Bank to the tune of US$20 million over the next five years as stated in my
blog article
entitled “Animation
after KingstOON - World Bank Invests US$20 million in Jamaican Animation BPO
Brother from another Mother with Great Expectations”.
Oasis500
is basically investing in Animation and App Designers, or even entrepreneurs that
do both such as Stephen Williams of Pandosoft of TapKat Fiesta Fame as
described in my blog
article entitled “Stephen
Williams' Android Game TapKat Fiesta - Social Media Marketing even as VoIP for
Corporate and Enterprise untapped Telecoms Opportunity”. Their investment
comes with some strings attached however; along with cash comes mentorship,
training, business support and a 20% stake in your company.
Welcome
to the headaches of seeking funding from a VC (Venture Capital) Fund!
Oasis500 and Start Up
Jamaica - From Boot Camps to Angel Investor Networks
Oasis500
is looking for strong contenders in the field of Technology, albeit the focus
is clearly App building and Animation. Starting Monday September 1st 2014, 60
potential groups or Teams of such entrepreneurs have already participated in 45
hours worth of intensive training in the first for five boot camps.
These
boot camps will be held at the held at the Jamaica National Building Society
(JNBS), Duke Street and will be tried out over the next 2 years of the YEDCI
Program. They were given training and possibly software tools that would make
them able to manage a business, specifically in the following areas:
1.
Digital media
2.
Mobile technologies
3.
ICT
4.
Digital content
Of
that batch of 60 entrepreneurs, only 10 teams will survive and be appointed a
trainer to develop their business models. They are then given the opportunity
to pitch their business ideas and become a part of an accelerator program and
if successful, they’re get funding from Oasis500, to quote Marketing Manager at
Oasis500, Omar Alsharif: “If the jury decides that your pitch is good, then you
will be selected for the accelerator programme which allows other persons to
invest in your company”.
Starting
in October 2014, each of these Boot Camp Style training is expected to last
four (4) months over the period of two (2) years, with the next batch of 60 or
more groups or individuals being taken on by March 2015. By then, they should
be successfully running businesses which at that point would be able to seek additional
funding from other VC via an Angel Investor Network that Oasis500 would
introduce them to in order for them to expand.
It
apparent that the good faith that the World Bank has show in investing in
Jamaica's Animation Industry has already attracted VC's who see potential in
Jamaican Animation and App design.
Let’s
hope that this funding will eventually result in Jamaica becoming an Oasis in
the Caribbean in terms of Animation and App design, especially app for
Corporate and Enterprise as stated in my blog article
entitled “How
BYOD trend in Jamaica will require Local Jamaican Developers to develope
Enterprise and Corporate Apps”, where the real money is to be found.
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