SANTO DOMINGO, Dominican Republic, Wednesday June 29, 2017 – The Caribbean Export Development Agency has commenced their expansion of the angel investment footprint within the Dominican Republic and Haiti, following the first Bi-National Angel Investment workshop in the Dominican Republic.
Deputy Executive Director at Caribbean Export Escipion Oliveira said promoting innovative ways of funding small and medium-sized enterprises (SMEs), including supporting the development of the angel investment climate within the Dominican Republic (DR) and Haiti, is a key activity for the agency.
“The DR has some fairly advanced angel groups, and their inclusion to the Regional Angel Investor Network (RAIN) supported by Caribbean Export and the World Bank will certainly strengthen the region as a whole,” he said. “Furthermore, this initiative provides an opportunity for both DR and Haitian firms to benefit from exposure to the entire regional angel network via the joint action of the Agency’s regional and bi-national programmes.”
More than 70 angel investors, entrepreneurs and business development associations attended the workshop which focused on increasing awareness of alternative sources of capital for early stage business development, in particular, angel investing.
Participants from Haiti and the Dominican Republic received expert insights from Nelson Gray, a business angel with over 20 years of experience investing in some 42 companies across the world and who provides training and mentoring to entrepreneurs and angel investors. He was also the European Angel of the Year in 2008 and the winner of the Queens Award for Enterprise Promotion in 2015.
“I’m pleased to have been able to impart some of my knowledge and experience to the audience here in Santo Domingo. I’ve seen a great deal of potential in the Caribbean for angel investing – whilst it’s not suitable for everyone, it is a proven alternative for firms with high growth ambition to gain both finance and effective business advice,” he said.
The workshop was organized within the framework of the 10th European Development Fund, Haiti-Dominican Republic Bi-national Programme, and participants would have gained greater understanding as it relates to company valuations and conducting due diligence on prospective investments. Entrepreneurs from Haiti and the DR also pitched their businesses to the attendees, in the hope of securing angel investment.