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In recent years the Caribbean has seen an influx of promising startups leveraging technology to provide practical solutions in a range of industries, from tourism and transportation to healthcare and finance.

Amid a global pandemic, the region best known as a vacation haven is being repositioned as the world’s newest tech hub, and global investors are sitting up and taking notice.

On June 25, regional accelerator programme, TBR LAB hosted its inaugural Demo Day, providing 27 Caribbean entrepreneurs with the opportunity to pitch their companies to potential investors from North America, Latin America, Europe, Africa and the Caribbean. Collectively the firms represented over US $250 million in investment capital, making the virtual event the first of its kind in the region.

According to Eric Sonnier, TBR LAB’s director of accelerator programmes, Demo Day provided a platform for Caribbean entrepreneurs to show the world the potential that exists within the region.

“We all now recognise that great startups can be built anywhere, and we’re proving that the Caribbean is no different – founders just needed a platform to showcase their innovative ideas. As someone who has seen startup ecosystems across the US, I recognise a huge opportunity for early-stage investors in the Caribbean that can lead to high returns and significant impact,” said Sonnier, who himself is an alum of several top ranking accelerator programmes, including Silicon Valley-based Y Combinator, which has been credited with accelerating over 3,000 companies, including Airbnb, Dropbox and Coinbase.

TBR LAB has emerged as a US$4-million partnership between Tech Beach Retreat, IDB Lab and world-class accelerator programme, the DMZ at Ryerson University, in order to facilitate similar, sustainable growth throughout the Caribbean’s tech ecosystem. Demo Day served as a key milestone in achieving this objective.

Rent Yuh Ride, a Jamaica-based digital platform that connects travelers seeking rental cars with individuals who have cars to rent, was among the startups that presented.

Founder Cherie Williams believes the event represented a definitive shift in the way the world perceives Caribbean businesses.

“Tech Beach conveyed to investors that diversified, innovative ideas originate from the Caribbean region,”
Williams said.

“Demo Day allowed entrepreneurs to showcase their startups to the world; investors, partners, customers, and potential employees, all at once. This exposure will create rippling effects for those seeking partnerships, expanded networks, new connections, and funding.” 

Based on feedback received so far from both participating startups and potential investors, Demo Day served to confirm what Tech Beach’s co-founders Kyle Maloney and Kirk-Anthony Hamilton knew five years ago when they set out on a journey to revolutionise the technology landscape in the Caribbean -that the region is burgeoning with talent in need of the right exposure and resources.

“It feels great to open doors for these startups. They are talented and passionate, but underserved. All we are doing is opening up our global network of knowledge and resources to them; that incremental step on our part can have exponential effects on the work they do. For that I am extremely excited,” said Hamilton.

Demo Day was the culmination of the first cycle of TBR LAB and Tech Beach is looking forward to repeating the
process in a few months with a new cohort of Caribbean entrepreneurs who are ready to take their businesses to the next level.