Using the London Engage initiative to position the region for capitalizing on opportunities the EU market provides is a key driving force behind the efforts of Caribbean Export.
On August 9th at Grosvenor House, London at the African Caribbean Business Expo, twelve CARIFORUM private sector firms and enterprises will be given the opportunity to pitch their business ideas to prospective investors, distributors and retailers.
Caribbean Export views the CARIFORUM-EC Economic Partnership Agreement (EPA) as a critical catalyst to achieving long term sustainable growth in the Caribbean region that can break the cycle of debt and economic malaise. The EPA opens up 27 markets in Europe to CARIFORUM companies, and Break Point brings them all to the table to help firms gain the opportunity to access them. It is on this premise that the Agency views Break Point as the ideal vehicle – using the EPA – to drive regional entrepreneurship.
In the preliminary stages of the competition, companies were required to submit a video pitch, expression of interest and executive summary. Following the screening and firm selection, 30 companies were identified and put through firm coaching and business pitch preparation. Another round of selection is then undertaken on completion of all rounds of pitching. The final 12 firms will then pitch their ideas in London.
Break Point and the associated initiatives are jointly funded by the UK Department for International Development (DFID), who have come on board with 500,000 GBP to help drive the success of the London Engage and Break Point initiatives, and supported by the European Union’s (EU) 10th European Development Fund (EDF) Regional Private Sector Development Programme (RPSDP). The priority areas for Break Point are Agro-processing, Alternative Energy, Creative Industries, Fashion/Garments, Light Manufacturing, Professional Services, and Specialized Tourism.