Caribbean entrepreneurs, startups, and established businesses were encouraged to embrace open innovation and international collaboration as the EU-LAC Digital Accelerator hosted its Digital Connectors Barbados event under the theme “Uncracking Open Innovation in Barbados: Meet the EU-LAC Digital Accelerator” at Hotel Indigo, in Barbados. The event brought together founders, corporate leaders, ecosystem stakeholders, and policymakers to explore how corporate-startup partnerships can accelerate digital transformation and business growth across Barbados and the wider Caribbean. 

With the support of the European Union, Caribbean Export Development Agency, in partnership with fellow EU-LAC Digital Accelerator implementing partners TECNALIA, Octantis and European Business Network, hosted the event in Barbados. The event highlighted opportunities for Caribbean companies to connect with businesses across Europe and Latin America to co-create innovative solutions, and access acceleration services that support the development and market adoption of new technologies and business models. 

Opening the event, Leo Naut, Deputy Executive Director of Caribbean Export Development Agency, highlighted the programme’s transformative impact on private sector development across the region. 

“This programme is creating private sector development in a whole new way. It’s creating a pathway towards making our startups connect with international opportunities,” said Naut. “For us, it’s a 360-degree view on private sector development and really creating an opportunity in terms of digital transformation because it’s about co-creating solutions that typically are not readily available and could really move the needle in terms of productivity and technology use in businesses across the region.” 

Naut noted that the Accelerator is already generating tangible results in the Caribbean, with nine partnerships either accelerated or currently undergoing acceleration across Barbados, Jamaica, Trinidad and Tobago, and the Dominican Republic. 

“Our startups get to connect with potential clients internationally, while our corporates get to engage with solution providers and innovations that are not readily available in the region. It is truly a win-win situation,” he added.  

Representing the European Union Delegation to Barbados, the Eastern Caribbean States, OECS and CARICOM/CARIFORUM, Chiara Tardivo, Team Leader, underscored the strategic importance of partnerships in driving innovation and sustainable development and how this initiative is central to the EU-LAC Digital Alliance that the European Union supports as part of its Global Gateway Investment Agenda. 

“Through the Digital Accelerator we can see how new partnerships have been built between Caribbean startups and European corporates. We are very happy because we know the great entrepreneurial potential that exists in the Caribbean, and we are pleased that Europe can benefit from it through this programme,” said Tardivo.  

She further emphasized the European Union’s commitment to people-centred digital transformation through its Global Gateway strategy. 

“The focus is on Caribbean startups and SMEs and how to help them engage more directly with partners in Europe and Latin America. We believe that Caribbean entrepreneurs and innovators can play a great role as leaders in the global digital economy and in defining its direction.”  

During the workshop, participants learned about the EU-LAC Digital Accelerator’s model for identifying corporate innovation challenges and matching them with startups capable of developing innovative solutions. The programme then provides tailored acceleration services including proof-of-concept development, business modelling, market expansion support, investment readiness services, and grant funding. 

Maika Gorostidi, Co-Director of the EU-LAC Digital Accelerator, explained that the programme’s core mission is to create new digital business opportunities across Europe, Latin America and the Caribbean. 

“The main value of the accelerator is the capability we have to connect organisations from Europe, Latin America and the Caribbean and support these partnerships so that they are ready to scale their businesses and technological solutions,” said Gorostidi.  

She noted that since its launch in 2023, the Accelerator has identified more than 523 innovation challenges and facilitated over 100 collaboration agreements between startups and corporates. 

“These challenges are the seeds of new business opportunities. What we do is identify challenges from corporates and match them with startups that can provide solutions. Once they find a common goal, we support them with acceleration services and funding opportunities that can help them grow and scale.”  

Gorostidi also highlighted that participating startups can access grants of up to €10,500, including support for proof-of-concept development and implementation in real-world environments.  

The event featured presentations on best practices for designing innovation challenges, developing successful corporate-startup collaborations, and leveraging international partnerships for growth. Startup clinics were also scheduled to provide Barbadian entrepreneurs with direct guidance on how to engage with the Accelerator and develop competitive proposals. 

Naut encouraged local entrepreneurs and businesses to join the growing innovation community. 

“If you’re a startup, this is a pathway to creating new clients, becoming international and validating your product ideas. We want to help Caribbean innovators turn their ideas into commercial opportunities and lasting partnerships.”  

The Digital Connectors Barbados event forms part of a broader series of activities aimed at strengthening innovation ecosystems throughout the Caribbean and increasing participation in the EU-LAC Digital Accelerator.