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Pillar Presentation - Mentorship & Networks

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Presentation of the ideas generated from the discussions, the gaps, medium to long term plans, priority areas for 2011.

Presentation of the ideas generated from the discussions, the gaps, medium to long term plans, priority areas for 2011.

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Pillar Presentation - Mentorship & Networks Pillar Presentation - Mentorship & Networks Presentation Transcript

  • Mentorship and Networking Pillar
    Summit Outcome & 2011 Action Plan
  • Mission
    “Establish mechanisms that generate a successful cycle of mentorship in 2011 in order for Barbados to be the #1 Entrepreneurial Hub in the World by 2020”
    Measures of Success
    • Champions for each theme identified by 1st Dec 2010
    • Relationship with 3 media house established by Jan 2011
    • Establish monthly mentoring meetings within Entrepreneur community
  • What does World Class look like?
    • Internationally recognized and celebrated role models
    • Pay it forward mentality, mentees become mentors
    • Environment without fear
    • Collaboration of Government, Private Sector, Academia and other agencies
    • Formal structure to enable quick and fair response to requests for assistance (be it funding, advice, scholarships, internships, government licenses/permissions)
  • Where is Barbados on the Benchmarks / Indicators -(score out of 10)
  • Situation in Barbados
    • Highly connected entrepreneurial community, purposeful networking
    • Great examples of outstanding mentoring but not adequate (quantity)
    • Several organizations exists e.gBIDC, Invest Barbados, BYBT, YES, Bimventures and others but they are not connected .
    • No mechanism to connect entrepreneurs to potential mentors.
    • Low awareness levels of how to access business persons
    • No networking event or facility specifically for entrepreneurs
    • Active Investment opportunities, access to value driven investment partnerships
    • Lack of hand holding
    • Mechanisms exists such as CBET, Bimventure shepherds
    • Lack of awareness of existing mechanisms
    • Fear of poaching of ideas
  • Situation in Barbados...cont’d...
    High levels of accountability, trust and credibility
    Small market syndrome
    Low levels of trust among entrepreneurs towards potential mentors
    Limited focus on entrepreneurship development of young persons ( overcoming the fear factor, building self-confidence, improving business skills)
    Internationally renowned role models
    Sir Kyffin Simpson, Sir C. O Williams, BizzyWilliams.
    Few internationally renowned role models
    No celebration of success stories (i.e. local role models)
  • Where are the Gaps?
    No entrepreneurs networking association
    Little structure to facilitate the connection of entrepreneurs with mentors
    Lack of infrastructure – which is meant to catalyse and facilitate the entrepreneurs in connecting
    Helping entrepreneurs articulate their vision and business ideas (TALENT AND EDUCATION PILLAR AND GOVERNMENT POLICY PILLAR)
    Lack of awareness regarding how to execute ideas
    No mechanism to link potential investors and the entrepreneurs (FINANCE PILLAR)
  • Mentorship and Networksfor Entrepreneurship
    Key Themes:
    Create supportive and interactive networking
    Establish governing body representing relevant organizations
    Cultivate enabling culture for entrepreneurship
    Celebrating successful mentor – mentee partnerships
    Looking beyond borders of Barbados
  • Create supportive and interactive networks
    Monthly networking event (face-to-face)
    Online forum/share point
    Directory of resources (summit speakers, panelist, moderators, participants as starting point)
  • Establish an umbrella body representing various stakeholders
    Introduce entrepreneurs to suitable mentors
    Identify point of contact within stakeholder organizations
    Introductory function to lenders, government bodies
  • Cultivate enabling culture for entrepreneurship
    Educate Mentors on the key values of a mentor – mentee relationship
    Influence people from early years on benefits of business mentorship
    Develop business mentorship awareness initiatives
  • Celebrating successful mentor – mentee partnerships
    Establish relationship with media
    Create an avenue for people to tell their stories
    Publicising examples of outstanding mentorship
  • Looking beyond borders of Barbados
    Identify international mentorship opportunities
    Seeking best practice examples from other economies
    Utilise international speakers at monthly networking events to raise awareness of world class standards
  • Medium Term – Executing the Plan
    Develop and implement entrepreneurship public awareness and involvement campaign (business mentorship as a key ingredient in growing sustainable entrepreneurship in Barbados).
  • Long Term – Executing the Plan
    In collaboration with the social partnership establish the policy framework to create the enabling culture for entrepreneurship (Ministry of Education and Human Resource Development as the target ministry)
  • Priority Areas 2011– Executing the Plan
  • Re-affirm Mission
    “Establish mechanisms that generate a successful cycle of mentorship in 2011 in order for Barbados to be the #1 Entrepreneurial Hub in the World by 2020”