From Crawling to Running…
This September the Branson Centre of Entrepreneurship - Caribbean celebrates its 2nd Anniversary. As a new mom, I realize more and more each day how quickly things grow and change. I see it in the journeys of our entrepreneurs – from our first cohort in 2011 to our newest group, Cohort 5. I am thrilled and excited by the growth in their businesses, and in their own development as business owners. Watching many of them move from having mere business concepts or launching fledgling start-ups to running scalable operations with vision and structure, can feel like watching your own child go from crawling to walking. Taking those first stumbling steps into entrepreneurship isn’t always easy, but with a bit of hand-holding and support, crawling can quickly turn into running. In this issue, we revisit some of our entrepreneurs from Cohort 1 to hear how their businesses have grown since they first started with the Centre, and introduce you to Cohort 5 – a new group of eager and diverse mavericks. Being an entrepreneur is more than just being self-employed. When we recruit Branson Centre entrepreneurs, we look for change-makers who have what it takes to build sustainable and profitable businesses. Growth in their own businesses, as well as the cascading wider social impact, is often fuelled by innovation. We highlight this in our “Innovation & Education” piece featuring two entrepreneurs who aim to find new ways to educate children and spread the reach through technology. In our regular ‘3 to Watch’ section, we put the spotlight on three entrepreneurs whose businesses recently launched a new venture. Their eminent growth is fuelled by their persistent energy and ability to iterate and develop new strategies along the way. The entrepreneur in our cover story, Dwayne Samuels, is a tech entrepreneur whose recent launch of his app, Grik.ly, demonstrates how passion fuelled by good business can lead to big things. Take for example, Dominic McDowell, his D.A.M. Good Brownies generated so much demand in the last 6 months he has had to scale operations rapidly. We investigate his options for financing his manufacturing enterprise in order to stay ahead of the game. From technology to brownies, we dig into the minds and strategies used by our entrepreneurs to thrive, not just survive.
Lisa Lake Chief Entrepreneurship Officer
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www.bransoncentre.org
contents
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Three To Watch
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Cohort One: Where Are They Now
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Who Are Cohort 5?
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Approaching a Bank: Expanding D.A.M Good Enterprises
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Dwayne Samuels: Grik.ly for Windows Phones
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Business Tips from Richard Branson and Elon Musk
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Fuelling Education Through Technology
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Baughaus Design Studio Motivation Behind ... Design
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BCoEC Current Impact and Future Plans
three to watch The past, present and future coincide as Branson Centre innovators take charge to grow their businesses. Andrea Johnson of Serra Trading, a purveyor of Jamaica Blue Mountain coffee, is on a strategic marketing trail to make her brand known, putting what she has learnt into practice and blazing new trails. Royan Campbell of Sure Financial Services and a recent graduate of the Branson Centre’s ‘Launch Pad’ programme, is changing the lives of micro-entrepreneurs with cash and care. Then, current ‘Launch Pad’ participant, Mark Foster of SWAT Productions, gives us great news of what to expect in the film industry.
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Andrea Johnson
Brewing Success at Serra Trading
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There is a story behind every bean. Whether it is picked fresh from the crop or roasted to perfection, the bean tells its tale, and defines the brew. This is the crux of the specialty coffee market that Andrea Johnson is aiming to break through with her company Serra Trading. The specialty coffee market involves two distinguishing types of coffee – the single estate coffee (from a specific farm) and the single origin coffee (from a specific area or country). This classification of trade in the coffee market is big business and Johnson intends to be a part of it, trading green beans and roasters. From 2011 to early 2013, Johnson has been travelling between Jamaica and the US, establishing connections, procuring an import licence and researching the market for Jamaica Blue Mountain (JBM) coffee. Now she is doing just about everything in her power to get her goods in the market and make a name for Serra Trading. She has been attending conventions, talking with buyers to get a better understanding of the market and identifying ways in which she can differentiate Serra Trading’s coffee from the sea of other suppliers. So far, Johnson has identified two main strategic partners; a roaster in Canada, who also owns coffee shops, and a green bean distributor in the US who owns hundreds of thousands of coffee shops. She is also considering pitching a private roasted product label for hotels, which she intends to pursue in Thailand and the general New York Market. Lastly, she is looking at ways to target high-end boutique hotels and private jet companies.
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As Johnson refines her business model, the challenge of getting the product out of Jamaica on time to potential suppliers is creating a logistical challenge that she is eager to overcome. The problem rests in excessive red tape and a Coffee Board that has to function under dwindling resources. Despite this, Jamaica’s rich history and the reputation behind its Blue Mountain coffee makes it an attractive choice for Johnson. However, the benefits of being a premium brand comes with its own set of worries. Over the years, some importers have used the brand carelessly to sell low-grade coffee in the market. Johnson recognises that she will have to be vigilant on all ends to ensure that only authentic JBM coffee is marketed to her clients. This, she says, will dispel the misconception that JBM coffee quality is inconsistent. Johnson wants to partner with roasters that have a high level of distribution so that she can easily differentiate the product as a single estate coffee. Most of the JBM coffee that’s sold is under one large brand. “They are the largest exporter and processor, but they buy from over 3,000 farms, so it is nearly impossible for them to tell the customer where their coffee comes from. I think customers are leaning more towards understanding the transparency of their product; where it comes from and the story of the product. So I’m moving towards working with roasters who are interested in telling that story to their customers.” Johnson has been implementing the lessons learnt from the Branson Centre and continues to gain guidance from her mentor about understanding what it takes to make a profit. Not only that… recently Virgin Unite was Johnson’s first customer of her private label roasted product. She is expecting even more breakthroughs around the corner.
www.serratrading.com
Royan Campbell Sure Financial Services
“We’re not just lending to them and collecting back an interest,” he says, “but we are actually helping their businesses to grow.”
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After two attempts at his first business, Royan Campbell admitted defeat, and closed shop. But through that experience, came great wisdom. His stripes earned him a comeback so impressive, there isn’t enough room to contain it. Campbell’s micro-financing company, Sure Financial Services Limited (SFS) has become the lifeblood of many rural micro-entrepreneurs in Jamaica. This is because it offers more than just financing. It offers business advice, training and market creation opportunities. “We’re not just lending to them and collecting back an interest,” he says, “but we are actually helping their businesses to grow.” Campbell has always wanted to create his own employment, and he understands first-hand what it’s like to be low on funds and have poor management that eventually sinks a business. His big heart refuses to let others suffer that same dilemma. So, SFS makes loans more accessible to startup businesses. Most loan providers will only assist a micro-entrepreneur if he or she has been in business for at least a year, says Campbell. SFS will finance micro-entrepreneurs who have only been in business for 6 months and will even consider pre-launch businesses. Once they have a strong business plan and strategy in place, they won’t be turned away.
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Going out on a limb is what makes Campbell’s business such a success. SFS provides training for its customers and monitors their businesses on a monthly basis; helping them to set sales targets and guiding them to put systems in place to reach those goals. On top of this, SFS creates linkages for their clients so that their businesses can thrive. For instance, SFS will connect say, a chicken farmer and a retailer so that the micro-entrepreneur will have a market. The amazing thing is that all of this is provided at no additional cost to the customer. That’s the SFS way - building relationships and trust, by extending beyond what is expected. “The single most important thing that has fueled the growth of my company is the fact that we care for people,” confesses Campbell. So it’s no surprise that the business is expanding and demand is bursting at the seams. The company started in St. Thomas and has now opened a new branch in Westmoreland. As soon as Campbell acquires the funding, Trelawny and St. Mary are next. Eventually, he intends to go public. Campbell strongly believes that building micro-enterprises is important for economic growth and development in Jamaica. “If we don’t stimulate economic growth at the grassroots level then in fact we can’t really stimulate it at the top.” He believes it’s the micro-entrepreneurs who actually support the big businesses. He wants the government to do more for entrepreneurs, in terms of funding, tax incentives and technical support so that businesses can grow. To him, it’s the only way to move the country forward.
www.surefinancejm.com
Mark Foster a love for filmaking
Mark Foster had every intention of studying in the US, until one day, he met his high school friend. A month later he was forming SWAT Productions, and a year later his first production was being aired on CVM Television. Foster’s love for film-making sits at the root of this drastic shift in well-made plans. So when his friend, (who by the way had already attended film school), told him, “Just do it,” he did. Foster is no stranger to entrepreneurship. He has been forming businesses from when he was a teenager. There was the meat shop after high school, the dinner programme while at university and the worktravel company after he graduated, Student Work and Travel (SWAT), which continues to this day. Then in 2012, he formed his production company. SWAT Productions seeks to create a variety of media forms, such as short films, reality TV shows, documentaries, music videos and commercials. But, it is also a resource facility, as Foster explains, “I want to help others who may not have the ability like me to do their own thing. Doors shut in their face figuratively, despite having a great concept but no network.” Working with a supportive staff who believes in your vision is something to which Foster can attest. With a skilled and strong team behind him, he is able to bring his ideas to life. However, the trouble lies in getting marketers and investors on board. Foster sees where the Jamaican film industry is in dire need of support. He envisions “a centralised movie factory network” where storytellers can get support to make their ideas happen. Island Rockers, Foster’s first production aired in July. It showcases the beauty and culture of Jamaica as participants travel across the island and compete for prizes. The show promotes a positive vibe that Foster hopes will “increase tourism, dismantle any negative stigmatism and provide family-friendly entertainment.” Through SWAT Productions, Foster aims to change the status quo. The very name, SWAT, evokes the resolve that he and his team are on a mission to tell stories differently. Expect to see music videos that wow without lewdness, commercials that captivate and movies that go beyond the ghetto story. And, then imagine a SWAT conglomerate that offers more than production, but workshops and distribution as well. That is where this team is going.
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“I want to help others who may not have the ability like me to do their own thing.”
www.swatproductionsja.com
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Cohort 1
Where are they now? I
In September 2011, the Branson Centre of Entrepreneurship – Caribbean was established in Montego Bay by Sir Richard Branson with the intention of facilitating the growth and transformation of entrepreneurs and their businesses within the region. Our first group of qualified entrepreneurs, Cohort 1, successfully completed the Launch Pad programme in that same year, but where are they now – two years later?
So we asked them, “How has your business grown since you completed Launch Pad at the Branson Centre of Entrepreneurship Caribbean?”
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Robyn Fox: EITS Café, Food Basket Farm & Mount Edge Guest House Accommodation /Food/Culture “I, Robyn Fox, am operating Mount Edge Guest House, EITS Café and Food Basket Farm, three businesses located in the Blue Mountain region of Jamaica. These are three complementary businesses that, until recently, have been possible to run with minimal staffing. New to our guesthouse this year, is the Natural Mystic Deck that will offer yoga, spa facilities and healthy living options, catered by our Food Basket Farm
Bianca Bartley: Peace-Is of Bianca Jewellery “Two years ago, at the launch of the Branson Centre of Entrepreneurship - Caribbean, I was asked to tell the invited guests what I hoped to achieve from the programme. I had no exact answer, but Thoreau said it all for me that morning: ‘If you have built your castles in the air, all need not be lost. Now, build up your foundations under them.’
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My business has definitely grown over the last two years. We have increased the number of retail outlets that carry the line, which now include Swiss Stores Kingston - one of Jamaica’s oldest and finest dutyfree stores. We have also increased international sales figures and thus, our foreign currency earnings. Top North American TV show America’s Next Top Model requested our jewellery
& EITS Café. We have already received bookings for group retreats at our new facility. I recently finished an online shopping option for the Food Basket Farm home delivery service. I am about to launch the webpage www.17milepost.com, the new web portal for the group of businesses, which also happens to be the physical address of our guesthouse, farm and café. The mission statement for the companies is ‘to provide people with a Real Jamaican Experience through accommodation, food and culture.’ When I joined the Branson Centre, I was full of ambition and optimism but little focus. I felt my ambitions were endless, but now my focus is to make the best of the opportunity. After two years, the counseling and the training at the Centre have helped my vision to become a reality. The Branson Centre continues to provide me with networking and business opportunities, as well as guidance in growing my business. This help has been invaluable, as our businesses change and expand.
www.17milepost.com
for the last College Edition cycle shot in Jamaica, which of course led to its international exposure on the CW TV network. Simultaneously, we further improved the quality of the product by adding gold and rhodium plating options, as well as tarnish proofing our base metal jewellery. I believed that my business growth was ensured in the thick epistles called business plans that we stayed up for months writing. But, somehow I knew that still wasn’t it. What really stood out was the Predictive Index (personality test) we did at the Centre, which told us that some of us lacked the ‘discipline’ needed to follow through on our lofty visions. I think the Branson Centre has finally figured out how to address this - and so have I. Most recently we have been engaged in more practical exercises and business coaching seminars, such as ActionCOACH, that focus on the real core of our companies. The thing that is responsible for their growth - ourselves. I am now able to access the tools that focus on that core from many perspectives through the Centre, which I may not have been able to afford before. These tools are putting me on a path for greater and more rapid overall growth.”
www.peace-isofbianca.com
Edward-Marshall Case: E3 Designs & Construction Architecture / Building Designs “In 2011 before I came to the Branson Centre, I was an enthusiastic young entrepreneur who needed help to properly organize my business. The Branson Centre helped me to clearly define my business model and I immediately began to see results. Sales have doubled, as well as networking opportunities, and I have been exposed to a higher standard of doing business. Prior to the Branson Centre’s training, ‘I’ was the business, but I now look at my business as more than who I am.
that every person should have a good home. E3Designs and Construction is making a positive contribution to the development of our nation by offering low cost construction services to the most vulnerable in society. The main plan for our immediate future is to make Christmas 2013 brighter for 10 less fortunate families, by providing housing repairs through our Project 2013 Initiative with the help of the Arthur Guinness Fund. (The Project 2013 Initiative is inspired by the Government’s 2030 development plan, and we aim to help make Jamaica the place of choice to live by the year 2030).”
E3 Designs and Construction has a life of its own. At the core of our business is the belief
Andrew Ross: Seascape Caribbean Coral Restoration “Seascape Caribbean was established formally in 2008. Training at the Branson Centre of Entrepreneurship provided the tools for my business to have a future; a realworld, profitable future providing the financial freedom to invest in an evolution of methodologies, to donate work and training to fishing communities, and to advance coral reefs science in restoration. Each aspect of the science and method advancement in turn supports growth and expansion of the business; including publication and media, increasing public and client awareness, improving efficiencies and taking on new clients. Seascape Caribbean came about when a north coast hotelier saw my research site in Montego Bay and requested a quote for a snorkeler’s garden in front of
one of his properties. This idea of tourism monetizing an ecosystem restoration struck a chord: coral restoration is a long-term prospect, with improvements year on year without necessarily a discrete timeline. However, donor and government funding tends to suffer a finite timeline. A private client with discrete business-oriented goals in long-term direct and indirect ROI will be seeing the direct cash-value of said work and reef, and will continue to maintain the system into perpetuity, or at least so long as the hotel persists. The Branson Centre of Entrepreneurship provided me the sales and management tools to get this package, pitch and point of value across to private clients in a language that is appropriate to keep their attention, to make deals and to grow coral.”
www.seascapecarib.com
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Andrew Khan: Jablo Enterprises Moringa Tea Packaging and Distribution “The hard work, the sweat and sleepless nights are finally paying off. Jablo is set to launch its new Moringa and Ginger tea! Jablo’s farm is once again expanding - producing more moringa for the nation. Through innovation, the team at Jablo Enterprises have seen it possible to increase the number of moringa seedlings on the farm while at the same time reducing the production cost. In August, 1,200 metres of drip line were set up in the farm to replace traditional hand watering, which has increased the yield and provided healthier and more lush moringa leaves for use in our tea. We are currently working on the new Moringa Ginger formulation, which we are launching in October, and as we approach the Christmas season, our main focus will once again be geared toward the Moringa Sorrel variety, a Jamaican favorite at Christmas time.”
andrew.khan@hotmail.com
Leanne Talbot: Island Cycle Recycling “Island Cycle was established in 2011 by myself and an old school friend, Xavier Bedasee. Our goal was to make recycling easier for the average person by providing a gate collecting service in residential and commercial areas. I was selected to represent Island Cycle as one of the first cohort entrepreneurs at the Branson Centre of Entrepreneurship in 2011. The Launch Pad was an amazing, unforgettable experience – it felt like home! My entire experience with the Branson Centre has been, and continues to be, a wonderful journey and one that I am very grateful for. They really do support you every step of the way.
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After the Launch Pad, the ball really started rolling for Island Cycle. We chose to roll out the business in 2 phases. Firstly, to establish a presence in the market and in schools. Secondly, to open facilities and begin collection and processing of the recyclables. Since inception we have focused on phase 1 by promoting recycling through exhibitions and presentations at environmental expos, schools, universities, community centres, etc. We have spent time familiarizing ourselves with the landscape and developing our business concept, and have established ourselves as key players in the industry. In November 2011, Dr. the Honourable Christopher Tufton called Island Cycle to a meeting at the Ministry of Industry, Investment and Commerce to discuss the status of the recycling industry. In November 2012, Island Cycle was chosen as one of the awardees of the Arthur Guinness Fund. This funding will be used to execute a special recycling bin project that is in preproduction stages at the moment. We are also looking to launch phase 2 of business by the end of the year.”
Who are
Cohort 5?
Cohort 5 started the Branson Centre’s ‘Launch Pad’ business training programme on July 16, 2013. The cohort comprises 19 entrepreneurs - most with operating businesses and a few getting ready to launch. It is a majority female cohort (63%), which makes for some interesting banter from the remaining 37% male. The businesses include 58% service providers and 42% who offer products. The range of industries are vast, including everything from education, food and beverage, accounting, fashion design, cleaning services, market research, advertising, graphic design, ceramics, entertainment, tourism and filmmaking.
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From Left to Right: Christopher Palmer (Flavours Express); Leisha Lyn-Cook (I’d Rather Fall In Chocolate); Hellen French (Mount Pleasant Farm Chocolatiers); Keisha Allen (Clay Fashioned); Brian Brown (Live. Wire.Act); April Lennox (Adanna Taylor Productions); Stacy-ann Thompson (InMotion Research Services); Bena Nakawuki (The Lotus Line); Angelica Barrett (Glad Helpers); Randy Fagan (The Emergency Room Designs & Technology);
From Left to Right: Karl Savoury (Math Plus Learning Centre); Victoria Silvera (Touch by VLS); Cyreca McGaw (McGaw & Company); Tamia Harker (This is Jamaica); Chalik Campbell (Revolutionary Advertising Products & Solutions); Camille Lindsay (Cai Subira Education Ltd.); Mark Foster (SWAT Productions); Joshua Chamberlain (Alpha Boys School); Rondeen McLean (The Literary Genius Foundation)
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The cohort has shown great promise from the beginning and the bond between the members has developed and grown into another mini family. Many of the entrepreneurs are based in Kingston and other parts of the island so carpooling has helped to extend the interaction and engagement beyond the Centre. One entrepreneur has worked out a deal with a bus to carry the group from South to North each Tuesday, and we hear the rides are full of story-telling, peer coaching and deal making, not to mention joke telling. This is the type of collaboration and initiative that we cherish at the Branson Centre. We already have friendships & business alliances that have formed between the cohort and other Branson Centre alums,
including entrepreneurs from Cohort 4 purchasing raw material and finished goods from Cohort 5. One Cohort 5 entrepreneur expressed in week two of Launch Pad training that “I have never felt so comfortable so quickly with a group of strangers.� The family atmosphere is alive and well and whilst Cohort 5 got to know our Interim COO, Jen Bartlett, for the first part of their journey and grew attached to her, they have embraced Lisa on her return. As a team we are proud of and see promise in all of our cohorts and we want to once more welcome Cohort 5 into a family where they are free to share, learn and grow.
Approaching
a Bank: Expanding D.A.M. Good Enterprises
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Dominic Andrei McDowell was considering names for the new venture he was about to launch in February 2011, when he realized that his initials could form something interesting. D.A.M. Good Enterprises was born. While he was trying to decide what his first product should be, he realized that brownies were an underserved market. To test this idea, he began baking brownies and selling them to his neighbours and friends. When the orders started coming in, he knew he had hit on something big.
The banks may request the following items in order to ascertain whether Dominic will be able to repay the loan: 1. Bank statements showing cash on hand and cash usage over time. 2. Unaudited or audited financial statements. If the company is young, like Dominic’s, unaudited financial statements may be accepted. 3. Copies of signed contracts that demonstrate sufficient demand for the product.
D.A.M. Good Brownies launched in January 2012 with three flavours - MnMs, Cookies and Cream, and Coco Loco. From these simple beginnings, D.A.M. Good Brownies has grown to ten flavours, two employees, and is now distributed through 15 outlets in Kingston, Montego Bay, and Mandeville. Dominic started using the twitter hashtag #LifeisDAMGood in January 2013, which, combined with significant press that he’s received, has helped to increase awareness of his brand. His top-selling flavours include Black Forest, Merlot, and Nature’s Best (vegan).
Acquiring debt for the first time is a major responsibility for a small company. Dominic should first find out the interest rate associated with a collateralized business loan, as well as the term of the loan, then input these along with the principal amount he is requesting into an on-line financial calculator to get a sense of his monthly payments. This compared with his monthly cash flows will let him know whether he can afford a bank loan right now, or if he should wait to generate more revenues before expanding. Only when he is comfortable with the monthly figure, should he move forward with the application process.
In order to grow further, Dominic now needs to establish a commercial kitchen to increase his baking capacity and further penetrate the brownie market. He will need a rotary oven, a food cooler, and an industrial mixer. He is also looking for a larger location that can support growth in the number of employees. In this situation, where the new equipment can be used as collateral, a commercial loan may be a good option for Dominic. As the bank will primarily be concerned with recovering the loan, Dominic will have to prove that he has enough cash flow or can generate enough business to repay the principal plus interest every month.
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If the company is unable to repay its obligations each month, the bank has the right to go after the baking equipment that collateralized the loan. This would jeopardize the company’s ability to reliably meet its customers demands, and could halt production altogether. Another option for Dominic would be to find a private individual who would be willing to either invest in his business for equity, or offer him a low-cost private loan that would be used to expand his business. By not taking on debt, or some other form of capital, a small company will limit its ability to scale. In Dominic’s own words, “taking on debt is a big risk, but I think it is a risk that will help the company to grow, and will allow me to generate greater revenues and returns.”
for Dwayne Grik.ly Windows Samuels: Phones
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Not just anyone gets their mobile software application approved by multinational software giant, Microsoft Corporation – and the odds are even lower when you are from a tiny island in the middle of the Caribbean Sea. However, in the event that someone’s app is approved by Microsoft, and that tiny island from which they are from is Jamaica, then it must be Dwayne Samuels.
As a young entrepreneur with minimal business experience, Dwayne was eager to cast the final stone in developing a successful venture – obtaining “sound business knowledge.” The Branson Centre of Entrepreneurship – Caribbean (BCoEC), as conveyed by the young innovator, provided him with that ultimate foundation, propelling his company - Xormis, as well as himself, towards the top of the game. “Getting to interact with the movers and shakers of Jamaica was such an educational, fun and invigorating experience! All of the lessons learnt at Branson [Centre] have helped us to build Grik.ly into the product that it is today, and we’ve just started. There are so many more lessons that we’ve learnt, which we are dying to implement. Everyone at the Centre - the entrepreneurs of each cohort, the management team and those who they invite to speak every week, has at some point helped me to see things from a different point of view. When people with the same drive to achieve awesomeness are in one place and all of them are on the same wave length tremendous ideas come forth and that’s what happens at Branson[Centre] ” With his entrepreneurial spirit catalyzed by the professional coaching received at the BCoEC, Dwayne has gone forward to thrust Jamaica further onto the global technological landscape with the launch of a business networking app, Grik.ly, on Microsoft’s latest mobile operating system - Windows phone. The application, officially launched on August 14, 2013, allows its users to easily share contact details with new and existing business associates, facilitate the organization and storage of their credentials and inform them of any updates within that context.
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Grik.ly, whose name originates from a town in Malaysia called Grik (Gerik), epitomizes the town’s reputation for being strategically placed and enabling networking between individuals who meet up in both casual and formal contexts. According to Dwayne, that is the innate function of the app – “to help persons make better connections and, from these connections, form successful companies.” In 2010, following the Xormis’ team victory in the Microsoft Imagine Cup in Poland, Dwayne and his co-Founder, Shawn McLean, Xormis’s Technical Director; initially formulated the idea of a networking app after identifying a repetitive problem inherent in attending business events. A flurry of business cards from mismatched faces, names and businesses subsequently fueled the idea in the summer of 2012, and then the development of said app in January 2013.
“Having no experience with making a commercial product, we spent time seeking mentors and knowledge to help us on our path. We spent lots of time planning, learning and researching which took us close to 5 months. We started work on our API (Application Programming Interface) in January 2013 and completed it in March 2013.” Grik.ly’s introduction to Microsoft is just a bit short of being described as haphazard. In fact, Xormis started building the Windows Phone app, almost a year after Dwayne’s unofficial meeting – turned pitch opportunity — with the new Microsoft country manager, Marcelle Smart, at the Caribbean Forum on Economic Growth. Dwayne proactively maintained communication with the company, and in late 2012, Xormis became a registered Microsoft Partner. “When I pitched Grik.ly she was so excited she ran into her office and came back with a huge stack of business cards and said “These have to go!” The rest is history. Since attending more events like these, I’ve gained tremendous knowledge, and I appreciate the power of proper networking.”
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Although the climax of this innovator’s journey is using his own app for the very first time, Dwayne recently got some added inspiration from a once in a lifetime opportunity granted to him through the Branson Centre. Through Google’s latest mailing upgrade, the Google Hangout, Dwayne participated in a virtual chat with Richard Branson and technological revolutionary; Elon Musk, Founder of PayPal, Tesla Motors & SpaceX.“I asked Elon about his future and he told me that if he had the chance to create another company it would be one around a supersonic solar-powered vertical take-off and landing electric jet. Moments like these I highly treasure because they don’t happen every day.” Dwayne is currently working tediously with his partner on releasing Grik.ly for Android in late October 2013, and Grik.ly for iOS in January 2014. Although Grik.ly does not currently charge its users, Dwayne states that there are plans to introduce a purchase rate in the next 6 months to begin generating a profit. Looking into the future, Xormis has identified 2014 as the year to launch two exciting new initiatives; Grik.ly Events - Event Networking, Better, and Grik.ly Corporate - Corporate Networking, Better. As this issue goes to publication, Dwayne also celebrates being selected as one of the top 6 Caribbean mobile app semi-finalists for the global VentureOut Challenge – a new initiative to propel expansion-ready mobile entrepreneurs into enticing international markets. And, as luck would have it, Dwayne and a Virgin Media Pioneer’s entrepreneur, have been selected to travel to Malaysia this month to participate in Global Startup Youth – a 3-day ‘boot camp’ aimed at turning ideas into high-growth ventures solving real world problems. At the ‘boot camp,’ 500 participants from 90 nations will be teamed up to ‘get stuff done,’ and the winning ventures will showcase their prototype to world leaders. Needless to say, Dwayne’s suitcase is packed and ready to go.
Business Tips from
Richard Branson and Elon Musk
In August, Richard Branson (Founder, Virgin Group) and Elon Musk (Founder, PayPal, SpaceX, Tesla Motors) hung out ‘on air’ for an hour with the Branson Centre and other international guests via Google+ to chat about entrepreneurship. More than 15,000 viewers watched the live hangout (one of the biggest Google Hangouts in history) and the recorded hangout has generated more than 100,000 views with over 1 million minutes watched.
“It has to be a very good product or service. Otherwise, there is no point in the company existing…try to find everything that is wrong with it and fix it.”
“If you’ve got a great idea and you think it will improve people’s lives, just get on and do it.” Richard Branson
Elon Musk “Business in itself is a force for good because what you are doing is you’re creating something which is going to make a positive impact in other people’s lives.” Richard Branson
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“A good leader does not try to do everything themselves. A good leader is willing to let other people make mistakes, as well as make good things.”
“You’ve got to do all sorts of jobs & tasks that you don’t want to do, that are not intrinsically interesting to you. You’ve really got to be prepared to do whatever it takes…as the CEO of a start-up.” Elon Musk
Richard Branson
To watch the full Google Hangout, click here
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Fuelling Education Through Technology
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Technology is constantly changing the way we learn. As it blazes forward, the education system is pressed to jump on board, or play catch-up later. For Gordon Swaby and Damion Miller, the latter is not an option. These young Jamaican entrepreneurs have incited technological revolutions that are destined to send shockwaves throughout the region.
Gordon Swaby
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There are some who believe that fun in learning ends at play dough and building blocks. But Gordon Swaby proves otherwise. In 2012, he launched EduFocal, a social learning platform that allows GSAT and CSEC students to test themselves in different subject areas. The design is based on a game structure, where the user advances through the topics in levels, while gaining experience points. EduFocal’s fun and engaging environment stems from Swaby’s own love for video games. “EduFocal is something that I would have wanted while I was in high school or doing my GSAT exams,” he says. Like any game environment, the platform uses a rewards-based system where students can win prizes at different points. The incentives help to motivate them to advance further up the levels, and ultimately sharpen their academic skills. The limitations of time and space disintegrate in EduFocal’s online learning environment. Registered users can access the service 24 hours per day and 7 days per week. Students can also accelerate their learning and improve their productivity as they complete the revision exercises with ease. “We’re trying to replace the need for you to go home and take up millions of past paper booklets and work them out. We want to give you the convenience of just logging into the system and having thousands of questions accessible to you without any effort,” says Swaby. As he reminisces about his days at Holmwood College, EduFocal’s unique design becomes even more apparent. He explained that the student-teacher ratio in a class was sometimes fifty to one. Fifty students vying for the attention of one teacher is not a sustainable method, he points out. He believes that learning should be personalised, which is something that is impossible with those numbers and with that method. Now he is making it possible with EduFocal. Swaby seeks to maximise on EduFocal’s tracking potential. With the available data, he is working towards generating reports so that students can know where they stand in the different areas. In the very near future, we can expect to see even more grade levels and other areas of content as he aims to expand the business and educational potential even further.
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www.edufocal.com
Damion Miller
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Damion Miller’s IT career started out in networking, building websites and doing graphic design. But, the idea of being lost in a sea of techies wasn’t what he really wanted, not when they were all doing the same things. So, in 2012, under his company Pure Genius, Miller started building apps for smartphones. And as he continued to search for more opportunities, he soon discovered that there was a gap in education, specifically as it relates to digital content. That’s when Damion decided to develop digital textbooks for tablets. This has never been done before by anyone in the region. This type of content is imported, mostly from the US, which creates material based on their culture. Now Miller had the opportunity to create something truly Caribbean. He approached the main publisher of Caribbean textbooks, Carlong Publishers (Caribbean) Limited, and they were thrilled about his concept. They would provide the books, and Miller would adapt the content for the device. Fortuitously, Miller began negotiations before the government made the decision to distribute tablets in schools. His timing could not have been more perfect. The books will be created for primary and secondary levels, and will transform the way students learn. The app is very interactive and uses different types of media, making it more than just a textbook. As Miller says, “it’s about the experience.” Using this technology opens up a whole new world for students. Books are brought to life, stimulating the senses of its user while accelerating their learning. As Miller points out, the digital books have the power to also address the issue of learning styles. “One book can address all these methodologies.” He believes that very soon the technology will even be able to identify the user’s learning style. “In time you will have the smart textbook that knows how you learn,” he adds. Struggling with a bag of books was something that Miller detested in high school. Now, all this generation needs is an internet connection to purchase and download the books. Afterwards, they can use the material without internet connection, which Miller says he took into consideration because of the level of accessibility in Jamaica. The books will be released in the pilot phase of the tablet roll-out in Jamaica the coming year, but will eventually become accessible regionally. As of June 2013, Miller started developing the first book. It is now complete and there are fourteen more in the bag. Still, it doesn’t end here for Miller, who also wants to produce digital books for the tertiary level. He is already pooling together a group of lecturers for the content. “The aim in the next 9-10 months is to be identified as the digital publisher of the region,” he says. In this way, Miller believes he can significantly reduce the Caribbean’s dependence on other countries for textbook imports. There is no telling, he may very well be the one to design the smart book he has envisioned.
puregenius@gmail.com
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Motivation Behind… design
Describe Baughaus Design Studio. What exactly does your business offer?
Baughaus Design Studio takes pride in designing and making truly authentic Jamaican-made home products and accessories, including but not limited to lighting, furniture and ceramic tableware. We offer a unique design perspective which we refer to as ‘Jamaican Modern,’ because the products are influenced by the Jamaican culture.
When did you first become interested in Craft and Design?
Being born into a family that encouraged my creativity was such a blessing that I can honestly say I was born to do this. I believe in nurturing your talent[s] and passionately following your dreams - the money will always follow. With that said, I
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am just being true to myself and growing from that girl who was always making something and dreaming about solving a problem herself. The journey is long and the road is winding [and I have veered off-course at times], but like a true creative I always seem to return to my first love.
Why did you decide to venture into the business of Design?
It was inevitable that I would end up trying to monetize my God-given talent and abilities - it was only a matter of time. The decision came after being disappointed because I was following another path that did not work out. It gave me that push to do what I am doing now, and I am actually glad now that it happened.
What approach and way of life inspires your work and how can we see this in your designs?
Life is beautiful and inspiring. I internalize everything and it all gets mixed up in my head and then what comes out is an interpretation of my experiences. I love all forms of art and design and I am influenced by a few designers and schools of thought such as; Scandinavian design, The Bauhaus, and traditional forms of Jamaican handcraft; such as crochet, handwoven mats and baskets. For me, inspiration is endless and can be found in the simplest things.
Can we see Dana or your own unique flair in any of your designs?
My designs are what I would call ‘Jamaican Modern’ as they are either a reinterpretation of traditional Jamaican culture, art or materials, or the application of modern materials to the traditional. My design style can be described as graphic, modern, tropical, boldly colourful at times and a little whimsical. My love for my island home and the preservation of our culture and the environment is reflected in my designs. I am constantly experimenting with natural and renewable materials such as industrial felt and bamboo, using them in unconventional ways to make unique home goods and accessories that reflect my life as a Jamaican.
Is there any particular method through which you select the materials used to create your works of art?
I approach each material as if I was conducting an experiment. So nothing is out of bounds, I tend to work with more environmentally sustainable materials such as bamboo, papier mache, recycled glass, felt, etc.
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What other areas do you hope to venture into?
My short-term dream would be to venture into commissioned architectural pieces involving more industrial materials, as well as expanding my portfolio to include designs involving the reuse/ re-purposing of metals. I can’t say what other areas I would like to explore because the possibilities are endless and design knows no boundaries.
What, would you say, encourages and fuels the longevity of your business?
Baughaus Design Studio, is still in its infancy stage, but I have passion, drive and belief in what I am doing and that is a great formula to keep going. I also have the added benefit of having a blueprint for success drafted by my mother and aunts who have been successful women entrepreneurs for over 30 years. If they can do it, I certainly can!
Is there anyone in the industry you currently look to for inspiration?
Eva Zeisel (industrial designer), Jonathan Adler (potter), Gene Pearson (sculptor), Paola Lenti (designer), Patricia Urquiola (architect & designer), Erwin Hauer (sculptor), the Eameses (designers), and Gladmark (Wooden Tableware).
www.danambaugh.com
The Branson Centre of Entrepreneurship – Caribbean
ignites businesses to operate in a sustainable and socially responsible way to improve livelihoods and transform the world.
As of august 2013...
55
85
entrepreneurs invited to Take Off
entrepreneurs participating in Launch Pad
57 + 54
at least 57 jobs supported by businesses participating in Take Off
at least 54 new jobs created by businesses participating in Take Off
182% Revenue Growth
Future model Regional Expansion
400
Entrepreneurs per year
Virtual Platform: Interactive training centre & toolkit, mentorship matching hub, marketplace, social network
+
Local Community Ecosystem: Local partners, events & workshops, peer-to-peer connections, pitch competitions
Exponential Impact
Help support and expand the Branson Centre’s impact in the Caribbean. Contact partnerships@bransoncentre.org
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We want to match established business leaders with emerging entrepreneurs. Are you an experienced business leader and entrepreneur? Are you passionate about business and can give 1-2 hours a month to share what you know and make a difference to a young entrepreneur? Do you want to join a network of leading Caribbean and international change-makers?
To become a Branson Centre mentor, contact partnerships@bransoncentre.org.
SSL Prepares Jamaican Teas Corporate Bond for Investors In the past three (3) years Stocks & Securities Ltd has been steadily growing in the investment banking segment due to their innovation and success in garnering capital market transactions for IPOs. Recently, the company completed its fifth IPO by listing the Jamaica Stock Exchange (JSE) on the main market in July 2013. With four (4) junior market IPO listings under their belt, SSL is preparing itself once again to dominate the market as it aims to list the Jamaican Teas Corporate Bond Offering. SSL’s Investment Banking Team is a major part of the company’s success to date and so they sat down for an interview to discuss IPOs, private placements, debt raises and what makes a company an attractive listing, in addition to the Jamaican Teas Corporate Bond.
Q: When should any company consider doing an IPO? There are several instances, but a public listing can be useful to facilitate: • To fund expansion, lower debt, etc. • To transfer ownership costeffectively; to provide estate planning. • To make their ownership in the company liquid. • When they are ready for the ‘next level’ of their development having outgrown their current standing. • To provide general working capital support. Q: What makes a company an attractive listing? • Aggressive growth in revenue, gross profit margin and net profit margin. • Low gearing ratio. • A strong Board of Directors and Management Team. • An established track record
of performance e.g. 5 years of audited financial history. • Attractive current ratio or cash position to identify that the Company is in a sound position. Q: How has SSL’s Client’s IPO success to date helped to further grow the Investment Banking Division? We get a lot more calls and inquiries concerning potential listing opportunities and have been fortunate to speak with a wider scope of Jamaica’s entrepreneurs concerning the solutions the Division can offer them. Needless to say, SSL’s established track record concerning client IPO’s over the past three (3) years has spoken well of our capacity to deliver in line with the client’s needs and allowing them to grow their companies and achieve their objectives.
This Q&A session was conducted by Stocks & Securities Limited exclusively for the Branson Centre eZine. For more information, please visit our website: www.sslinvest.com
SSL Investment Banking team signing the Jamaican Teas Corporate Bond mandate with John Mahfood’ (L-R Lamar Harris – Manager, Investment Banking, Clinton Brooks – Managing Director, Investments and John Mahfood – C.E.O. Jamaican Teas.’ Missing (Ryan Strachan – Manager, Corporate Solutions and Wealth Management)
Q: In addition to IPO’s, what other services does the SSL Investment Banking Division offer? • Financial Advisory • Corporate Bonds • Preference Shares • Mergers & Acquisitions • Offshore Structures And other related services Why should the public invest in the upcoming Jamaican Teas Corporate Bond offering? Jamaican Teas Corporate Bond presents an exciting investment
opportunity for investors. The Jamaican Teas Bond will be listed on the Jamaica Stock Exchange making it a more liquid product than a private placement bond offer. The Company is already listed on the exchange, and published financials demonstrate its ability to repay this debt, without constricting growth.
Team
Lisa Lake
Chief Entrepreneurship Officer
Sharon Jarrett Centre Manager
Melissa von Frankenberg Partnerships & Communications Manager
Kerrie-ann Richards Entrepreneur Development Trainer
Lisandra Rickards
Entrepreneur Development Trainer
Donnelle Christian Relationship Manager
Maria Lunden
Volunteer Monitoring, Evaluation & Research Analyst
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Branson Centre of Entrepreneurship Unit 14, Bogue City Centre Montego Bay, Jamaica 1-876-632-5134 enquiries.caribbean@bransoncentre.org www.bransoncentre.org/Caribbean/
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