The recently launched healthcare innovation institute Catalyst has introduced its newest programme, Entrepreneurs in Residence (EIR).

This programme provides a unique, robust, and hands-on experience, empowering entrepreneurs from across the globe with unparalleled insights, the tools to develop impactful solutions, and a global view to drive meaningful change.

Megan Cousins from London, England, is the first EIR to participate in the programme. She will spend 12 weeks with Catalyst and will be primarily responsible for leading the second cohort of Catalyst’s Accelerator. The accelerator has ten regional start-ups within the healthcare sector and aims to improve the founders’ entrepreneurial capacity and skills.

The General Manager of Catalyst, Dr Samantha Johnson, is thankful for the Inter-American Development Bank (IDB) funding, which allowed them to offer the EIR programme free to participants and to provide a stipend. “The IDB funding has allowed us to design a rich and transformative experience with the EIR. We are dedicated to fostering innovation and collaboration, empowering participants like Megan to create lasting value, transforming their entrepreneurial journeys within the local and regional healthcare landscape,” said Dr Johnson.

Cousins confessed that the programme has been beneficial. “The EIR Programme has far exceeded my expectations. It has been an eye-opening experience, offering invaluable insights into the healthcare landscape in the Caribbean. Comparing this to my perspective of healthcare in London has deepened my understanding of the challenges and opportunities in delivering equitable and innovative care in markets like Jamaica. This programme has broadened my horizons and inspired me to think creatively about healthcare solutions. It has also piqued my interest in opportunities for entrepreneurship in the region,” shared Cousins.

Catalyst, the Caribbean’s first health innovation institute, is already seeing an increased interest from other international healthcare professionals looking to the Caribbean for investment opportunities. 

“The programme is open to local entrepreneurs as well, but we are seeing a growing interest from international entrepreneurs looking to the Caribbean as a great place to learn about healthcare within emerging markets,” said Dr Johnson.

Since taking the reins of Catalyst, Dr Johnson has championed ground-breaking programs to drive innovation in the region’s healthcare sector. “The EIR programme is one of the key initiatives under the Catalyst umbrella. Our accelerator programme has also achieved significant success, and we are particularly excited about the second cohort. We hope healthcare entrepreneurs are encouraged to leverage our resources to scale their ventures and achieve even greater success,” she stated.

Dr David Walcott, founder and managing partner at Novamed, the parent company for Catalyst, explained that the EIR is a platform to fuse local and international talent to benefit the region. “We anticipate a strong commitment to learning and collaboration, with the ability to bring diverse, innovative approaches to healthcare challenges,” Dr Walcott asserted. He continued, “The EIR programme is developed to bridge the gap between global talent and local healthcare needs, enabling EIRs to grow professionally while fostering impactful innovations in under-resourced settings. Participants gain exposure to health innovation in emerging markets while contributing to solving real-world healthcare challenges. We expect the EIR programme to empower participants to contribute meaningfully to the health innovation ecosystem while fostering leadership skills,” he said.

Dr Johnson said each participant is expected to support Catalyst’s mission of driving innovation in healthcare, mainly through knowledge exchange. “We believe in remaining on the cusp of innovation and responding to the needs of the healthcare sector, clients and companies through a commitment to excellence, intelligent planning, and focused effort,” Dr Johnson said.

The in-person programme is designed to embed experienced entrepreneurs from healthcare and adjacent sectors into the growth journey of health start-ups in the Caribbean. “The EIRs work directly with the companies who interact with Catalyst through various ways, including workshops, one-on-one sessions, and collaborative problem-solving. EIRs can expect to essentially join the Catalyst team during their tenure and work alongside us, refining approaches to product development, market strategy, and scaling their businesses, particularly in the context of healthcare’s unique challenges and opportunities, while also incorporating their personal and professional experience,” she said.

Dr Johnson encouraged more professionals within healthcare and adjacent sectors to consider the EIR programme. Amid rising medical challenges and the increasing prevalence of diseases, healthcare innovation has become more critical than ever. “Professionals interested in healthcare must seize opportunities to upskill and adapt to this evolving landscape and explore entrepreneurship for improved patient outcomes. I encourage more healthcare professionals to take advantage of the opportunity that the EIR programme presents and to take a full view of fulfilling the needs of the industry within the Caribbean as a whole,” said Dr Johnson.