News Release from National e-Business Incubator Inc.
Roseau – over 10,000 square feet of low cost office space has been designated for further boosting the development of Dominica’s small business sector. The National E-Business Incubator and the Dominica AID Bank has entered into a partnership agreement through which the Bank has made available to NEBI on lease 10,000 square feet of office space at the AID Bank Estate in Canefield, which will serve as the main Incubator site.
The National e-Business Incubator Project is an initiative of the Government of Dominica, funded by the European Union (EU), and is being implemented by the University of Technology (UTech), Jamaica. Its staff features a mix of youthful and experienced business experts, most with postgraduate training, who are currently being mentored by UTech experts in business incubation. Mr. Abraham Durand currently manages the incubation function and Professor Vanus James leads the transfer of incubation technology from UTech.
To date, the Project has been providing incubation services to eleven (11) small business clients who are currently in the start up phase of their business development. The immediate target is 20. Included among the client compliment are seven Information and Communications Technology (ICT) service providers, a publishing company, an association of musicians, an agricultural production and marketing franchise that networks many small farmers, a transportation/eco-tourism start-up and a transportation company. The eleven were selected from a total of twenty-two (22) applicants. NeBI expects to grow the number of clients by at least five (5) at the end of March.
The 10,000 square feet of office space made available through the AID Bank will allow onsite tenants of NeBI to benefit from access to low cost rental on office space and equipment on a graduated payment plan. Virtual tenants will benefit from having their own business addresses, mailboxes, access to business communications and operational support through NeBI for a nominal fee. Business incubated by NeBI therefore are able to leverage the benefits attending a corporate image, which depicts high quality and technology enabled as well as cost savings from group marketing, market meeting opportunities, training, mentoring and technical support over a two year period.
Other services currently being offered to incubated tenants include support in business planning and business plan development, marketing, market research, training, accessing financial support and mentoring. By midyear customers will be able to receive 24 hour access through the NeBI web site and e-commerce portal. Tenants will also benefit from the expert advice and guidance to be provided through their individual mentors. The NeBI Business Advisory Network will provide mentoring services to NeBI’s clients. Experts in International Business, International Trade, Business Management, Tourism, Arts, Entertainment, Eco-Tourism, and Handicraft are invited to offer their services as mentors to the NeBI Business Advisory Network.
NeBI regards itself as “The Ultimate Partnership Incubator” for supporting individuals and small enterprises serious about growing successful businesses and bold enough to trade on the international market arena as well as for facilitating the economic diversification of Dominica while promoting the adoption of ICT in business operations and management. As such NeBI invites departments of government, financial institutions, educational institutions, private entities, NGOs, the media and individuals to contact NeBI for exploring the possibilities that might exist for partnership in advancing the economic development of Dominica as well as the interest of the particular individual or organization locally or internationally.
If you wish to start a new business or you are just getting underway with one, apply for membership. NeBI will be one of the best friends you can make. A special invitation is also extended to youth and youth associations with an interest in the business of sports, entertainment and craft.
In addition to the main incubator in Canefield, satellite incubators are being established in Callibishe, Sineku, Grand Bay and Portsmouth to ensure that all Dominicans who are desirous of accessing the benefits of the business incubation will find them within relatively easy reach.
The National e-Business Incubator is the second incubator to be established in the Caribbean, the other being the Technology Innovation Centre (TIC),operated by the University of Technology in Jamaica. Research have shown that over 50% of new businesses fail in the first 5 years of operation while over 80% of incubated businesses survive well beyond the first 5 years. As it serves Dominica, the National E-Business Incubator expects to improve even on that performance.
National e-Business Incubator Inc
Contact: Meegan Scott
Phone: 1(767) 275-2844
Email: [email protected]
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