SLYBT Social Business Incubator (Cohort 2) First phase culminates
On March 1, 2022, the St. Lucia Youth Business Trust (SLYBT) officially launched its second cohort of the Social Business Incubator Program. The program sought to strengthen SLYBT’s mandate to support the development of social enterprises in Saint Lucia and the Caribbean. The first phase of the program lasted five months and will end on Wednesday August 3, 2022 with a pitching exercise.
Originally conceived by the Barbados Youth Business Trust, the Social Business Incubator Program has worked to propel the launch of new social enterprises in Barbados, Dominica and Saint Lucia. This initiative targeted young entrepreneurs between the ages of 16 and 30, who were at an early stage of developing a social enterprise and wanted to move forward, through training, mentoring and funding. The immediate objective was to help develop and launch successful social enterprises while building the long-term capacity of entrepreneurs and social organizations.
Participants completed a series of virtual workshops over the five months that guided them through developing and validating a business plan for their business concept. The program consisted of an interactive learning environment, business planning tools and resources, facilitation by subject matter experts, learning from experienced social entrepreneurs, launch planning support and a individual coaching and access to small development grants.
Participants received training in the areas of social enterprise, social innovation, financing social enterprise, planning social enterprise, creating social change and preparing a pitch. The sessions were facilitated by social enterprise experts from Barbados and Trinidad, as well as business management training experts from Saint Lucia.
During the culminating pitching exercise, the final nine entrants will present their business plans to a virtual audience consisting of a panel of three assessors, program facilitators, mentors and other guests. Although this is not a competitive exercise that results in a big winner, participants will be interviewed by the evaluators at the end of their performance.
During this first phase of the social business incubator, beneficiaries will be assisted in starting up and launching their various social enterprises, followed by the provision of business support, technical assistance and training. other business advisory services.
The St. Lucia Youth Business Trust (SLYBT) is a project of the Chamber of Commerce, Industry and Agriculture of Saint Lucia and offers a coordinated and comprehensive program to help young people develop the skills, attitudes and access to the resources they need to succeed. .