215 applications for Start-Up Jamaica

[Arch_Angel]

Some 215 applications have been received by Start-Up Jamaica (SUJ), the government-sponsored accelerator programme for entrepreneurs with mainly technology-based businesses ideas, according to state minister for technology Julian Robinson.

A quarter of the applicants have qualified so far for the next phase of the programme.

"To date, 55 individuals (including six females) have secured a place in the bootcamp and they have been contacted," said Robinson.

But the numbers could end up being slightly larger.

Read more: http://jamaica-gleaner.com/gleaner/2...business5.html

Anyone here had signed up for this?

[Satanforce]

Here is the website:

http://www.start-upjamaica.com/en/p/list/57094

And here is an article from the Observer with earlier details:

http://www.jamaicaobserver.com/lates...art-up-Jamaica

We should be able to detect the obvious problems with this program from the website and the above articles alone. It would be best if we develop our own Business Plans and techniques, and seek Investors on our own. Perhaps the mods and admins could create a new topic for this?

[Arch_Angel]

It would be best if we develop our own Business Plans and techniques, and seek Investors on our own.

Because that has shown works out much better then getting 30k US dollars, 1 week training in marketing and creating your own business plan and 3 months incubation from industry experts local and overseas right?

[Satanforce]

Because that has shown works out much better then getting 30k US dollars, 1 week training in marketing and creating your own business plan and 3 months incubation from industry experts local and overseas right?

Well, I have never seen a grassroots attempt to start a business on this forum. But I have personally seen these types of start-up government initiatives fail on several occasions, due mainly to stereotypes of technical people by the government, and to the wrong type of people sucking up to investors who cannot deliver on their promises. Again, seriously, have we ever seen any of these government incubators succeed at anything?

[datdread]

... But I have personally seen these types of start-up government initiatives fail on several occasions, due mainly to stereotypes of technical people by the government...

To be fair. Upon average. 3 out of every 4 startups or about 90% of them fail.

...for variety of reasons. Often ending in crippling debt. Ultimately bad for the economy. See anything "Student Loan"

So to disparage a government group for failing at the same thing everyone else is failing at is not fair.

I think the manic focus on immediate ROI is a serious distraction but our culture nurtures it...so that must be a good thing right?

"Here's Proof Every Startup Idea You've Ever Had Craigslist Already Does"

Read more: http://www.businessinsider.com/craig...#ixzz3Auw2P0VP

[topanaris]

Well, I have never seen a grassroots attempt to start a business on this forum. But I have personally seen these types of start-up government initiatives fail on several occasions, due mainly to stereotypes of technical people by the government, and to the wrong type of people sucking up to investors who cannot deliver on their promises. Again, seriously, have we ever seen any of these government incubators succeed at anything?

I have met many an entrepreneur in my lifetime, and I have been somewhat of a successful one myself, the reasons many startups fail, I can say lay squarely with the entrepreneur themselves. Chiding the Govt for trying to create an incubator is kindly silly. Starting a business is not for everyone, the ones who do succeed understand this better than most. I will say this, tech based companies with the target market being Jamaica will all fail or will not yield the desired results, Marketing 101 know your market/customer.

[pezz]

Because that has shown works out much better then getting 30k US dollars, 1 week training in marketing and creating your own business plan and 3 months incubation from industry experts local and overseas right?

The problem is that most of these people that start businesses fail to understand that as a owner you work 24/7.

There is no time off when building a business.

I was a freelance programmer for 2 years (Unity3d).

If I get an email at 2am I better deal with it asap before the client takes their business elsewhere.

[topanaris]

The problem is that most of these people that start businesses fail to understand that as a owner you work 24/7.

There is no time off when building a business.

I was a freelance programmer for 2 years (Unity3d).

If I get an email at 2am I better deal with it asap before the client takes their business elsewhere.

Ding ding ding ding ding ding. Thats the answer to the million dollar question, tell him what he was won Bob!

[datdread]

Ding ding ding ding ding ding. Thats the answer to the million dollar question, tell him what he was won Bob!

Not the ONLY answer. There are a few others.

Lack of experience
Insufficient capital (money)
Poor location
Poor inventory management
Over-investment in fixed assets
Poor credit arrangement management
Personal use of business funds
Unexpected growth

Then you toss in the predators...

[topanaris]

Not the ONLY answer. There are a few others.

Lack of experience
Insufficient capital (money)
Poor location
Poor inventory management
Over-investment in fixed assets
Poor credit arrangement management
Personal use of business funds
Unexpected growth

Then you toss in the predators...

Actually no,that is THE only answer, your success as an entrepreneur really depends on how much time you are willing to invest in the business, and not just the day to day running, but the time taken to understand all the nuances surrounding your business. Everything you have said can directly be attributed to time or lack thereof