Deltec Champions Young Bahamian Entrepreneurs

What does a shrimp farm, a skin care line, and a caricature artist have in common? They are among six finalists in the 2023 Deltec Initiative for Young Entrepreneurs’ cohort vying for $10,000 and a year ambassadorship with Deltec Bank and Trust Limited.

Now in its seventh year, the Deltec Initiative for Young Entrepreneurs (DIYE) is a charitable effort that launched in 2016 as part of Deltec’s mission to empower and support young Bahamians with innovative ideas to grow their small- and medium-sized enterprises.

According to DIYE Chairman Robert Turnquest, their mission is to support emerging Bahamian entrepreneurs develop their companies, discover new opportunities, and envision new heights.

“No one wants to feel like they can’t move forward,” Turnquest said. “There are days when motivation only stretches as far as the sofa, but we have the opportunity to change the situation.”

Deltec recognizes the bold ambition of young businesses and seeks to honor outstanding young entrepreneurs that go above and beyond to achieve higher level of success.

Since its inception, the DIYE has awarded various small businesses, from the 11-year-old Karis Knowles, the balloon princess to last year’s winner and financial educator, Lakeisha Rolle, of the Financial Academy.

After a vigorous three-round screening process covering hundreds of applications, the Initiative selected seven final applicants, including:

· AFINT Consulting, an IT-focused management consulting company that seeks to launch an online farmers’ market;

· Bluewater Organic Farm, a shrimp farm based in Grand Bahama;

· Body Bahama, a handmade bath, and body product line;

· Grow: The Food Lab, a culinary hub providing shared kitchen facilities and services to Bahamian chefs, farmers, and manufacturers;

· Caricature and graphic artist Renbert Mortimer’s RGMII Waynhead Productions; and

· Perfec-Tone, a skin care line and service provider with global reach

Turnquest called it an “incredible and accurate reflection of The Bahamas’ capacity to innovate,” selecting such a diverse group of entrepreneurs.

The DIYE cohort draws upon the professional expertise of Deltec executives, who mentor the entrepreneurs for six months. These mentors help shape the entrepreneurs’ business models, develop their presentation skills, and offer professional networking opportunities within Deltec’s global network.

“The DIYE working groups provide consultation, share insights, assist with discovering new opportunities, and mentor the entrepreneurs. This primarily involves enhancing the entrepreneurs’ business plans and improving their pitches in preparation for a widely regarded “Shark Tank” type competition,” Turnquest explained.

The DIYE cohort will conclude with a pitch competition on December 5, where the entrepreneurs present their business plans to a panel of judges from Deltec’s network and The Bahamas’ entrepreneurial community. The most successful 15-minute pitch wins a $10,000 investment from the Deltec Initiatives Foundation.

About Deltec Initiatives Foundation

Deltec Initiatives Foundation was founded in 2013 to advocate for promising young Bahamians. The foundation’s mission is to foster an environment that empowers young Bahamians to drive positive social impact through the arts, scholarship, education, and entrepreneurship.

The Deltec Initiatives Foundation is managed and operated by volunteers within the Deltec team, giving their time and efforts to helping others. For more information on the Foundation, visit: www.deltecbank.com/deltecinitiativesfoundation.