Caribbean diaspora to support startups in the region

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NEW YORK, USA – Entrepreneurs, investors, and leaders in the Caribbean’s investment communities will gather at a new virtual Summit to present and discuss opportunities for the Caribbean diaspora to invest in the Caribbean, particularly in startups and growing companies.

The Caribbean Diaspora Angel Investor Summit, an information-filled virtual event, will be held on Friday, November 13 from 9:00 am to 7:00 pm (EST) and will permit the organizers to announce the launch of the Caribbean Diaspora Angel Investor Network (CDAIN). CDAIN builds on the work of the Guyana Economic Development Trust (GEDT), an independent US-based organization that supports scientific and technological innovation in Guyana.

“Caribbean diaspora investing will be the subject of this important Summit for three compelling reasons,” said Oslene Carrington, chief executive officer of GEDT.

“Jamaica’s stock market had the best pre-pandemic performance in the world according to sources like the Financial Times and Bloomberg. Guyana, due to its significant new-found oil reserves, is still projected to be one of the best performing economies in the region according to the International Monetary Fund. And finally, the pandemic has presented once-in-a-generation opportunities for the region to pivot to agriculture, renewable energy and technology. Guyana, Jamaica and Trinidad are leading in these efforts, and we want members of the diaspora to hear more and respond.”

“Essentially, we’re seeing a turnaround in thinking about home countries that, in the years following independence and even until recently, have seen high levels of emigration due to their respective economic challenges (Source: IOM),” Carrington added.

“The Caribbean diaspora is in the spotlight. We are a valuable resource, and we mean to take our place in supporting the development of our countries and communities. It can’t all be the work of investors who don’t look like us, development finance institutions and big corporations. Through the Caribbean Diaspora Angel Investor Network (CDAIN), we anticipate benefitting from engaging with entrepreneurs at home in a structured and independent way.

In addition to the launching of CDAIN, the Summit will present a series of informative panels featuring promising companies in agriculture, energy, finance, renewables and technology and direct investment frameworks in Guyana and Jamaica. Proceeds from the event will GO toward GEDT’s Guyana Innovation Prize.

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