What do Facebook, Google, Apple and Microsoft all have in common ? Aside from being some of the most successful companies in the world, they are able to lay claim to their dominant positions as a result of sourcing venture capital. But, according to local experts in the field, there seems to be little hope for entrepreneurs here who need venture capital to develop their ideas into the next big billion-dollar company.
At the Caribbean Centre for Money and Finance’s Third Caribbean Business Executive seminar, Central Bank Governor Jwala Rambarran said, “the industry has collapsed” and when expressed as a percentage of GDP, VC fundraising in the Caribbean was “negligible” or at “zero”.
