Jamaican Tech Startups Secure Major Investment

News Americas, KINGSTON, Jamaica, Fri. Aug. 25, 2023: In a remarkable testament to the power of networking and collaboration in the tech industry, four Jamaican entrepreneurs hailing from three distinct Tech Startups are embarking on a transformative journey at TechStars New Orleans. The exciting endeavor comes after these innovators secured substantial investments of USD$120,000 each, in exchange for 6-9% equity in their businesses.

The impetus behind this significant achievement can be traced to the collective efforts of several entities: Techstars, Entrepreneurs Across Borders, and the Kingston Beta Network Effect. This remarkable feat underscores the pivotal role of connecting the right individuals at the opportune moment.

Khary Sharpe, Founder of HeadOffice; Dylan Brennan, Founder of Cyphr; and the dynamic duo of Jermain Morgan and Rory Richards, Founders of GroceryList, are the beneficiaries of this extraordinary opportunity. Through their passionate dedication, persistence, and patience, they have captured the attention of TechStars, an esteemed investor in the tech arena.

The collaborative spirit of two outstanding super connectors, Ingrid Riley and Melissa Pegus, has significantly propelled this achievement. With Riley’s role as the Founder of Kingston BETA and Pegus’ position as the Managing Director of TechStars Atlanta and New Orleans Powered by JP Morgan, an invaluable partnership was formed. This collaboration materialized through TechStars’ sponsorship of Kingston Beta Meetup Events, thereby initiating a relationship with the startup community.

The collaboration led to the serendipitous encounter between TechStars and highly promising startups, Sharpe and Brennan, who emerged from the Kingston Beta community. Subsequently, through an introduction by another key partner, DBJ (Development Bank of Jamaica), Morgan’s company, GroceryList, was brought into the fold.

The transformative impact of relationships built within the tech community is evident in this achievement. The alignment of shared goals, visionary leadership, and a dedicated network enabled these Jamaican entrepreneurs to seize this remarkable opportunity. As they embark on their journey at TechStars New Orleans, with USD$360,000 collectively invested in their ventures, they are poised to undergo intensive acceleration and gain access to TechStars’ extensive global investor network.

Their ultimate destination is DEMO Day, scheduled for later this year, where they will showcase the results of their accelerated growth. This achievement not only demonstrates the vibrancy of the Caribbean tech ecosystem but also underscores the transformative power of collaboration, connection, and community building.