With financial assistance from the World Bank and, technical support from Accelerate Caribbean, BELTRAIDE is hoping to make the next step in developing the right environment for entrepreneurial development. They hope to achieve this by designing what's called an incubator. Not the kind that babies are kept in; but an incubator for business. That is the subject of a three day workshop with stakeholders at the ITVET compound in Belize City where we found out more about this incubator:
Sophia Muradyan, Infodev, World Bank Group
"The main topic for today and for the next 3 days of our engagement here in Belize is incubation. Because for us, business incubators is one of the core activities that support entrepreneurship and young entrepreneurs. Entrepreneurship and support entrepreneurship is one of the key subjects of the World Bank and Innovation and entrepreneur practice, because for us they are of the key drivers for economic growth, for competiveness, for productivity and I think all of these topics are very actual in the Caribbean and in Belize specifically."
Melanie Gideon, GM, Enterprise and Innovation - BELTRAIDE
"Today is an example of the next phase that the country needs to leap to, which is a greater support environment for entrepreneurship and so we are doing this through the Incubation Program. Like Sophia mentioned, World Bank through its infodev and particularly Accelerate Caribbean Program, they've had years of experience of working with countries to implement incubators. So for today is designing what a incubator system entrepreneurship ecosystem will look like for the country with all the relevant partners; the government, academia, financial institutions, business support. In the next few days is to work with Belize and its partners, with BELTRAIDE and its partners to design what is an appropriate incubation program and how best to manage that program. So, that is what this week looks like in partnership with Infodev."
Natalie Pipia, Team Leader - Accelerate Caribbean
"So we are talking about creating of entrepreneurial ecosystem in Belize and actual talking about different pillars and mapping the ecosystem during the workshop today. So by the end of the workshop after talking with the audience here, we will figure out where the gaps are and where actually Belize is doing very well. Then it will lead to hopefully creation of different programs that support entrepreneurs' in the future in Belize."
Sophia Muradyan, Infodev, World Bank Group
"We are just starting to move in this direction and I think you have all pre-conditions to be very successful and our partner BELTRAIDE, I think they are initiating this new project with very clear vision on what they want to achieve. So, hopefully you can really create a new way to support entrepreneurs in the country and I think this is the most exciting aspect of this."
BELTRAIDE hopes to launch the incubation project by next year.
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