Over the past four years, Present Your Startup (PYS) has organized its regular training program and pitch competition event as well as a special hackathon in the Caribbean. To know more about the root motivations behind these efforts and the general economic climate of the islands, we interviewed Valerie Vallenduuk, founder of PYS.
“Long walks on the beach, cheerful activities and high-spirited music.
Who doesn’t think of this when imagining the Caribbean? Certainly, the picture is attractive, but the reality presents much more. People must notice that tourism is not the only opportunity.”
With the upcoming Bonaire edition, the entrepreneur and former lawyer aims at unlocking and boosting the unseen economic potential:
The Caribbean startup ecosystem
Bonaire and in general the Caribbean ecosystem have changed dramatically over the past few years, what were the components of this transformation?
I could mention many elements and highlight a few critical events but, in the end, it is really one factor: necessity. The economy relies too much on tourism and misses out on the wealth of ideas entrepreneurs have. Business people relocate hoping their talent will be recognized oversea. Governments have picked up on this trend and activated themselves to retain such geniuses. Present Your Startup is the perfect stage to attract professionals and accelerate business dreams.
In your opinion, what does the ecosystem need to fully develop?
Funding and support from public-private cooperations.
While the awareness is there and the first steps have been taken, we are far from having a system that encourages and nurture startups. PYS is a pioneer in this change and has built a valuable network throughout the years. PYS Bonaire is an example of it: The Chamber of Commerce proactively connected newly registered businesses to Present Your Startup and gave their commitment to other future events.
What do you think makes Bonaire and also the Caribbean an appealing investment opportunity? What are the main challenges in attracting capital to the islands?
The ABC islands are attractive because Dutch laws and regulations apply. Dutch companies aiming to interact and doing business with South America can think of the region as a test location. However, it is always difficult to convince investors if the political and economic situation is not completely optimised.
What advice would you give to Caribbean entrepreneurs to be investor-ready? What advice would you give to investors who are looking forward to do business connections?
For entrepreneurs, educate yourself on how funding works, use supporting programs to the maximum and seek assistance from trustable advisors.
For investors, if you really want to make an impact on our society, invest in the regions that need it the most.
How do international startup events like PYS have a positive impact on the ecosystem there?
We don’t only drive capital, but mindsets and perceptions. Other than startups, we accelerate the development of the ecosystem.
Lastly, what’s next to happen in the Caribbean landscape? Do you have aspirations or messages you would like to share?
The Caribbean is busy with getting more entrepreneurial and it goes well! So, I expect a lot from the younger generation in terms of changing the mindset, proving that within and beyond the island borders there is a lot to achieve.
If you felt inspired by the words above, we have great news! You can contact us if you would like to be part of the progress. The finals of PYS Bonaire take place on the 20th of February and we still have future plans for the region. Click the button below to see the change with your own eyes!
Written by Steven Pango
steven@innovate.today
