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Business Hatchery



Business Hatchery


Our Vision is to be Trinidad and Tobago's premier platform for business start-ups, in building a community of entrepreneurs who go on to discover and innovate sustainable solutions that improve lives, connect people and stimulate change

Mission
We are dedicated to creating a platform that enables all entrepreneurs to innovate and do their best work. We know that every business, even in the same industry, is different. Our commitment to building better businesses will challenge and engage entrepreneurial mind sets, and set start-ups on a path to transformation. We create value for entrepreneurs through collaborative interventions tailored to meet the specific and evolving challenges facing start-ups.




Since 2014 we have worked with about 70 start-ups and 100 founders


Signature Business Hatchery Programme

Launched in July 2014, CARIRI's Business Hatchery continues to transform start-ups through its signature Business Hatchery Programme.

We work with early stage micro entrepreneurs in helping them do amazing things in advancing from proof of concept to proof of business, over a three month duration.

Each year we support a select group of approximately 50 entrepreneurs who are solving problems through traditional and non-traditional products, services and technology solutions.

We launched our 7th Business Hatchery cohort on 23 July 2016.



  • October 2016

  • July 2016

  • April 2016

  • November 2015

  • May 2015

  • 2014



Benefits

Full complement of business coaching and mentorship opportunities
Full suite of workshop sessions
Hands on Market Research
One-on-one business coaching sessions
Strong peer network
Technical experts
Growing alumni network


Client Testimonials


A snapshot of testimonials from entrepreneurs who successfully completed the Business Hatchery programme in 2015 & 2016:

  • October 2016

    My entire business model has pivoted because of this course, and developments have already begun.

    Ricardo Sullivan, SkillFinder

    This programme has provided several tools that need to be employed to enable our business to grow & become more efficient. The awareness that it is not so much about my product but [my] ability to address customers' pain points is a great takeaway. The concept of building a brand; social media advertising great value.

    Muriel Cooper, KCi Enterprises Limited

    This was beneficial as it went outside the marketing textbooks and how it can be applied in the real world of marketing. By using customer validation and other methods we will develop our business, as it will focus on the customers and not so much on the product (test and pivot).

    Rebekah Dass, Kent Farms Limited

    The knowledge learnt from this program would be used as a template tool for refining and structuring my business ideas.

    Jeremiah Cruickshank, Cinfinty

    Great…lots of information. It brings you out of your shell, especially if you are a shy entrepreneur.

    Jason Sheppard, WE FILL

    Amazing as I thought I learnt it all until I came here.

    Shenelle Hills, De Jeunesse

    Fulfilled my expectation. Many practical applications to determine viability and success of the business. Will recommend highly.

    Donna Phillips, Sustainable Foods
  • July 2016

    I now understand the financial planning and tracking elements of a business much better. After several practice sessions I am way more comfortable speaking about my business as well as I now understand what is required for the possible audiences a business pitch would be made to.

    Nigel Jordan, Twigs Naturals

    The lean canvas, business model, financial lectures and business pitch classes were all vital learning tools which I plan to implement in and throughout the business as time progresses. The business model canvas provides a clear view on where I am at and what needs to be done. The coaches were very informative and assisted in all areas, they are customer friendly and met my present need in developing skills for the business.

    Maria Seecharan, Maria's Taste Delights

    CARIRI'S Business Hatchery keeps it real and a most immense benefit [to] a business [is how] to survive in the ever changing market place and [how] to do so with a focus on a positive cash flow!"

    Darion James, ALL GREEN (TRINIDAD) LIMITED

    The opportunity to meet, share and collaborate with other like-minded, driven entrepreneurs provides a source of inspiration; networking helps so that we can collaborate and create efficiencies, for e.g. ordering raw materials in one batch to save rack of our shipping costs. The wealth of knowledge of the coaches was great, as any one of them could have given sound advice based on real-life scenarios.

    Regina King, King's Specialty
  • April 2016

    The programme guided me along the steps to move from a jumbled idea to a clear, more focused goal. I will continue this pattern in the future as the company grows.

    Lystra Mills

    CARIRI's Business Hatchery has allowed and motivated me to pursue and 'push' through my business plan and its goals. Networking was a great benefit from the programme and I intend to continue to maintain those relationships.

    Shivonne Sant-Solomon, Bricks 2 Learn (B2L)

    CARIRI's Business Hatchery has sharpened my focus and entrepreneurial skills and pointed me in the right direction how to take my business forward. Most importantly it has helped me identify my Value Proposition and the plan of action to execute my short and medium term objectives. The individual coaching sessions were extremely valuable in pointing me in the right direction not only for the immediate assignment but in a general sense too.

    Colleen Cameron, Caribbean Concoctions

    It is a resounding YES, [I have benefited from participation in CARIRI's Business Hatchery Programme]. The business canvas was a significant learning tool for us. It allowed us to see the whole picture at a glance. It is allowing us to prepare documents, procedures, processes and manage expectations that are relevant and targeted to our goal. That goal is "The value Proposition" we deliver to the customer and end users.

    Victor Alexander, Pinnacle Farm West Indies Ltd.
  • November 2015

    Getting a better understanding of the financial aspect of business and developing income statements and cash flow reports. Also market research (which I had already done) but in a more structured manner helped to solidify my initial decisions.

    Warren Le Platte, Le Platte Studios

    CARIRI's Business Hatchery programme has helped me to gain more confidence as a business owner. As an entrepreneur, I was mainly focused on the creative side of my business and neglected the management aspects. Now I am much more aware of how to manage my business. I have already started to apply what I learnt.

    Gemma Joseph, Adio Innovative Ltd

    The support and uplifting words of encouragement [built my confidence]. Showed me what I did not know, brought me down to earth from flying high on my dream, to make success a reality. I will definitely continue applying market surveys and the business model canvas to assess where I am going, what I am doing, and the status of my business. Now that I clearly understand my target market, I will seek direct connections through TTARP and Chamber of Commerce/Entrepreneurs.

    Ramona Totesau-Peter, Easy Listening Promotions

    I have benefited greatly from this program. I have already started making small changes and hopefully it will bring success and with constant reviewing and reflecting to make even further changes. I have to look at ways to acquire more corporate clients and review the ways to make such networks happen.

    Shalima Persad, Edible Arts Sugar Artistry
  • August 2015

    I've learned how to analyze a business idea to ensure its viability. How to put together relevant documentation, understand business financials, streamline market research and how to speak to investors.

    Venus Pollard, Breadkrumme Ltd.

    I have benefited tremendously from this programme. Over the months, I have learned a lot of business terms and strategies. The presenters were very insightful and informative. I will definitely be applying all that I have learned. Thank you for the opportunity to be here. CARIRI has provided me with an extremely positive atmosphere. For the first time in years I have experienced such an outpouring of positive energy.

    Lincoln Harris, Twin Flame Trading
  • May 2015

    CARIRI’s Business Hatchery Programme has helped me to think through and work through the various processes with bringing my product to market, some of which may have been skipped without this training.

    Jere Andrews, Reperio Caribbean

    Learned how to do meaningful and relevant R&D and what tools to use. Learned how to interpret R&D. Learned how to create a business plan specifically relevant to our business. Learned not only what to focus on, but how to organize the information in an effective pitch. Learned to tailor information to different target audiences.

    Gemma Joseph, Adio Innovative Ltd

    CARIRI’s Business Hatchery Programme assisted us in taking a deeper look into our business concept. It made us determine a feasible and logical concept of our business model. The team seemed family oriented, making us comfortable and productive. Square meal can now be identified as an “online food delivery service;” this is a milestone achievement for us when compared to where we are [now] from where we were. We learned multiple strategies to growing our customer base, questionnaire [development], business models etc.”

    Ricardo Sullivan, Square Meal




Frequently Asked Questions (FAQs)


No. Based on a competitive application process, entrance into the Hatchery Programme occurs at set cycle periods. The inaugural Hatchery cycle was launched in July 2014. Subsequent cycles commenced on 9 March, 26 May, 11 August 2015, 19 January and 16 April 2016. The next cycle is tentatively scheduled to begin in July 2016.
Entrepreneurs go on to launch their own business and either pivot their original business direction (pre-Business Hatchery Programme), or advance to the next phase of CARIRI's Business Incubator, designed to assist incubatees in commercializing their venture.
Entrepreneurs/Founders of existing start-ups in operation for a period of 6 months to 3 years. It doesn't matter if you only have one customer or ten customers. Irrespective of the business enterprise, if you can commit 3 months of your time and energy to conduct market research, test your business model, improve your pitch techniques and develop your value proposition and financial projections, we want to hear from you. Commit to growing your start-up and the Business Hatchery Programme is an easy decision.
Businesses in diverse industries and sectors are accepted. In the past, we have accepted businesses in the following spheres: fashion, beauty, entertainment, education, retail, animation, environment, digital applications, accounting, child care services, ICT, manufacturing and food and beverage.
Submit an Expression of Interest form (online) and our team will contact you if you are shortlisted to attend a brief pitch panel discussion, at our Centre for Enterprise Development in Freeport. Following the pitch panel discussion, selected candidates can expect to sign a Business Hatchery contractual agreement and commence the Business Hatchery Programme within 2-3 weeks.
A generous time and energy commitment is critical to completing the programme and benefitting from the process of validating your business idea, learning business fundamentals, honing your pitch technique, developing market surveys, testing marketability and designing your business model. The value of the programme’s offering, peer support and mentorship networks also necessitates a fee priced at a reasonable market cost.
The entrepreneur is in the driving seat. The Business Hatchery does not own participants’ businesses or request equity swaps.
All businesses have a risk of failure. It is however much better to fail quickly and chart a different footprint, sooner rather than later. Our objective is to equip entrepreneurs with the tools to understand what works, what does not and what may need improvement. We want all our entrepreneurs to complete the programme and launch their own business or join the Business Incubator.
The programme is segmented into individual components with 5 deliverables: Base Case Analysis, Market Research, Financial projections, Business Model Development and Business Pitch.
The Business Hatchery programme delivers customized support to entrepreneurs and empowers them to determine proof of marketability for their business ideas. Our programme is rigorous, engaging and collaborative with experiential learning, practical workshops and functional knowledge networks. Our team of consultants and staff provide key insight and the necessary tools for the testing of business ideas. However, we encourage entrepreneurs “to get out of the room,” think independently and start learning by doing, by embedding group facilitation and one-on-one coaching sessions throughout the process.
If you only have an idea, you should apply to CARIRI's Idea Advisory Service. This service is offered at no cost, and can be accessed via: Idea Advisory Service (IAS)


Selection Criteria


We thank all our applicants for taking the time to submit a completed Expression of Interest Form. We receive many stellar applications and are excited by our entrepreneurs’ journeys. However, we select applicants who are shortlisted following panel interviews based on the following:

  • Uniqueness of innovation: What problem the business or innovation proposes to solve
  • Likelihood of success and/or export potential
  • Entrepreneur’s commitment, resilience, passion, diligence, attitude and approach
  • Proof of Business: business model, customers or value proposition
  • Vision, goals and/or objectives
  • Quality of the application and panel interview
  • Applicant’s need for the support we offer



Our Ideal Candidate


Whilst we value experience and your analytical capabilities, what we are mainly looking for in each candidate is an entrepreneurial drive and mindset. You should be passionate about your business concept, resilient in the face of setbacks and committed in both time and energy to attend workshops and coaching sessions, for the duration of the Hatchery’s three month Programme.

If you can balance collaboration with independent thought, take risks and be self-motivated, then we invite you to apply online to our Business Hatchery Programme.




How to apply



Entrance into the programme is competitive and contingent upon successfully fulfilling the requirements of an application process:


Acceptance into the Business Hatchery Programme is subject to the clients' consent to the terms and conditions of a Business Hatchery contractual agreement.






Client Registration: Expression of Interest Form





We welcome your interest in our Business Hatchery Programme. For information on our upcoming Information Session, email us at
hatchery@cedcariri.com




Technical Consultants



We are seeking consultants to function in a dual role as workshop facilitators and coaches. Your Curriculum Vitaes will be carefully reviewed against any suitable opportunities. Whilst we acknowledge all applications, we will contact applicants whose skills and experience are closely aligned with our needs. We thank you for your interest in developing entrepreneurial talent and look forward to your CV submissions.

*We only accept *.doc, *docx, and *.pdf.