SLYBT Social Business Incubator – Cohort 2 officially begins!
The Saint Lucia Youth Business Trust (SLYBT), in its efforts to support the development of social enterprises in Saint Lucia and the Caribbean, has officially launched its second cohort of the Social Business Incubator.
The Social Business Incubator is a program designed by the Barbados Youth Business Trust to support the launch of new social enterprises in Barbados, Dominica and Saint Lucia. This initiative targets young entrepreneurs between the ages of 16 and 30, who are at an early stage of developing a social enterprise and want to move forward, through training, mentoring and funding. The immediate objective is to develop and launch successful social enterprises while building the long-term capacities of entrepreneurs and social organizations.
Through a series of virtual workshops, the Incubator program will guide 13 participants in developing and validating a business plan for their business idea. The program will include an interactive learning environment, business planning tools and resources, facilitation from subject matter experts, learning from experienced social entrepreneurs, launch planning support, coaching individual and access to small development grants.
Participants will benefit from instruction in the areas of social enterprise, social innovation, financing a social enterprise, planning a social enterprise, creating social change and preparing pitch. Social enterprise experts from Barbados and Trinidad will lead the sessions, as well as business management training experts from Saint Lucia.
The first phase of the Incubator program will last approximately five months and will culminate on July 26 with the presentation of business plans to a panel of judges and guests. Thereafter, beneficiaries will be assisted in starting up and launching their various social enterprises, followed by the provision of business support, technical assistance and other business advisory services.
SLYBT believes that the most powerful force for change in the world is a new idea in the hands of the right person. We invite you to support SLYBT by sharing this story and helping us find and invest in the next generation of systems-changing social entrepreneurs. With our help, they are building a world “Each actor of change”. We remain committed to supporting youth-led businesses to grow the economy and improve the quality of life for our youth population.