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

1. Mentorship and Networking
Pillar
Summit Outcome & 2011 Action
Plan

2. 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

3. 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)

4. Where is Barbados on the Benchmarks /
Indicators -(score out of 10)
Benchmark / Indicators World Class Barbados
Highly connected entrepreneurial
community, purposeful networking
USA (San
Diego) – 8
3
Active Investment opportunities,
access to value driven investment
partnerships
UK - 8 3
High levels of accountability, trust
and credibility
Denmark - 9 2
Internationally renowned role
models
USA - 7 2

5. • Highly connected entrepreneurial community, purposeful
networking
 Great examples of outstanding mentoring but not adequate
(quantity)
 Several organizations exists e.g BIDC, 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

6.  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, Bizzy Williams.
 Few internationally renowned role models
 No celebration of success stories (i.e. local role models)
Situation in Barbados...cont’d...

7. Mentorship and Networks
for 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

8. 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)

9. 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

10. 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

11. Celebrating successful mentor –
mentee partnerships
 Establish relationship with media
 Create an avenue for people to tell their
stories
 Publicising examples of outstanding
mentorship

12. 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

13. 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).

14. 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)

15. What Why When Who Status Remarks/Actions/Measures
Establish a monthly
networking event and
online forum/share point.
In order to share knowledge,
experiences and create an open
discourse on entrepreneurship
January 2011 TBC Volunteer leaders. Measure –
number of people attending the
event. Website traffic. Fully
operational directory
Celebrate successful
entrepreneurs & examples
of mentorship
In order to raise awareness on
mentorship opportunities.
Build confidence in the
entrepreneurs and encourage
potential mentors and
entrepreneurs to take the
challenge .
Week 1, Dec,
2010
TBC Measure: Increased awareness
of where and who to go for
mentorships. Addition of
personal storiesd to forum post
designed to capture experience.
Invite the media leaders to
an inception event
To share information on the
importance of business
mentoring in helping young
entrepreneurs to start and grow
businesses.
Dec 2010 TBC Establish a point of contact at
media houses for young
entrepreneurs.
Establish a structure to
drive interest in
mentorship
In order to have clear guidelines
on developing world class
mentorship program.
31 Dec 2010 TBC Complete structure is delivered
to the E-Team and partner
organizations.
Priority Areas 2011– Executing the
Plan

16. 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”