Start-Up Jamaica (SUJ) launched this week in an effort to jump-start Jamaica’s startup ecosystem. The government-led program aims to help entrepreneurs transform business ideas into effective business plans capable of attracting investors. The program is based on the Start-Up Chile model, which has successfully put Chile on the global-entrepreneurial map. The SUJ program will allow startups to get seed financing, mentorship, support guidance and other services, in exchange for an equity stake in their company. The program is supported by the World Bank, with funding from the Development Bank of Jamaica. Oasis 500, a Jordan-based company, which has committed to providing $30,000 to each entrepreneur in the program. The seed capital is only for a 100-day period. Entrepreneurs interested in joining the program must complete the application to be considered.
