EU-LAC Digital Accelerator opens path for transcontinental business partnerships
THE EU-LAC Digital Accelerator is bridging the gap between transcontinental cooperation in the digital sphere with the launch of its inaugural open call for business alliances spanning Europe, Latin America, and the Caribbean.
This accelerator programme, of which Jamaica is a member country, is aimed at propelling digital enterprises forward through its innovative matching platform. This platform serves as a nexus where large corporations seek innovative solutions from smaller entities, fostering a symbiotic relationship between supply and demand.
“We’re trying to build bridges between companies from the EU and Jamaica in the digital sphere, making sure they feed into each other’s needs and offerings,” remarked EU Ambassador to Jamaica Mariane Van Steen, while speaking with the Jamaica Observer.
The collaborative approach has already borne fruit, with connections established between 55 corporates grappling with digital issues and 200 start-ups offering solutions, illustrating the platform’s potential to drive transformative collaboration. Through this first call for business partnerships the EU-LAC Digital Accelerator is inviting collaborations, generated through the matching platform and other external collaborations, to apply for acceleration services valued up to €30,000. These services, funded by the accelerator, are specific to the unique needs of each business partnership and encompass the development of a tailor-made acceleration road map, the design and implementation of proofs-of-concept, the validation of business cases, and specific advice and support for growth and access to investment.
Crucially, Jamaican businesses have a significant role to play in this endeavour by partnering with companies from the European Union, Latin America, or the Caribbean. Van Steen emphasised the mutual benefits of such partnerships, citing the opportunity to collectively address digital challenges while capitalising on each other’s strengths. She further made it clear that large corporations from the Caribbean can also seek partnerships with start-ups in the European Union, as long as they meet the supply and demand of each other.
“If you do not get into digital, you may be lost in the next 10 years,” she urged.
As the first call for business partnerships unfolds until the end of April 2024, the EU-LAC Digital Accelerator encourages interested partnerships to apply. To qualify for the acceleration services, partnerships must consist of at least one corporate entity and one innovative start-up or SME from different eligible regions. Interested EU-LAC partnerships can submit their application forms via the open call website, where they will find the guidelines for applicants with all the necessary documentation.