The CaribbeanStartups.com Summer 2016 Cohort deck serves as an orientation guide rather than a traditional investor pitch. It positions the organization as the 'home of the Caribbean’s startup ecosystem,' aiming to accelerate 100 companies to market each quarter. The presentation detail a curriculum spanning product development, customer acquisition, and funding strategies. Notably, the deck highlights that the inaugural class participated in over 34 regional programs, including the Branson Centre and USAID projects. While the deck is educational, it functions as a credibility builder by show…
Key takeaways
- The program aims to accelerate 100 companies to market each quarter annually (Slide 4).
- The accelerator provides a central directory for all Caribbean entrepreneurship initiatives and events (Slide 4).
- The inaugural cohort was highly active, participating in 34 different regional programs prior to or during the accelerator (Slide 10).
- The curriculum emphasizes 'Faking the Hype,' citing early growth hacks from Hotmail, Dropbox, and Reddit (Slide 28).
- The organization claims to have received $250k in value over six months, consisting of $50k cash, $50k legal support, and $100k in marketing/partnerships (Slide 34).
- Funding advice includes non-traditional methods like selling 'Obama O's' cereal, referencing AirBnB's early $25k raise (Slide 40).
- The program concludes with a Demo Day where 10 companies are selected to pitch for top prizes (Slide 52).
- The deck lists high-profile US-based judges, including Robby Bitting of MassChallenge and Vanessa Alexandra Pestritto of Lattice Ventures (Slide 67).
Introduction and Program Overview
The CaribbeanStartups.com Summer 2016 Cohort deck is not a standard fundraising pitch but rather a comprehensive orientation guide for an incoming class of entrepreneurs. The document establishes the organization as the first digital accelerator in the Caribbean region. The primary value proposition, as stated on Slide 4 , is the acceleration of 100 companies to market every quarter. This high-volume approach is supported by a suite of digital offerings, including monthly workshops, a central ecosystem directory, and an annual online expo.
Ecosystem Integration
A significant portion of the early slides is dedicated to proving the program's integration into the existing Caribbean business landscape. Slide 10 lists 34 different programs that the inaugural class participated in, ranging from the Branson Centre of Entrepreneurship to USAID projects like Konbit. This list serves as a 'proof of concept' for the accelerator's ability to attract the region's most active founders.
The Curriculum: Product and Customer Development
Product Development Framework
The deck outlines a technical roadmap for non-technical founders. Slide 16 breaks down the product lifecycle into four distinct stages: Alpha (core features, potentially unstable), Beta (controlled user group for feedback), Release Candidate (stable, bug-fixing phase), and Release (v1.0 for customers). It presents a strategic choice for founders: 'go technical then hire a tech lead' or 'hire a tech lead then go technical.'
Growth Hacking and Customer Acquisition
One of the more controversial sections of the curriculum is found on Slide 28 , titled 'Customer Development-Fake the Hype.' The accelerator explicitly teaches founders to use 'hacks' employed by Silicon Valley giants. Examples include Reddit's use of fake user accounts to simulate activity and Hotmail's viral signature lines. Slide 22 and Slide 25 provide tactical checklists for 'Site Submissions' and 'Social Media,' recommending that founders reach out to influencers with at least 10k to 20k followers and utilize platforms like Product Hunt and HackerNews to generate early momentum.
Funding and Monetization Strategies
The Value of In-Kind Support
Slide 34 shifts the focus from pure cash raises to 'value' raises. The accelerator shares its own success story, claiming to have secured $250k in total value within six months. This was comprised of $50k in cash, $50k in legal support, and $100k in marketing and partnerships. The lesson for founders is to target partnerships that provide validation and free services as a precursor to, or substitute for, venture capital.
Creative Capital
In Slide 37 and Slide 40 , the deck explores alternative funding. It lists standard crowdfunding sites like Kickstarter and Indiegogo but also suggests peer lending via Prosper and microloans via Kiva. A specific case study of AirBnB selling 'Obama O's' cereal to raise $25k is used to encourage founders to 'get creative' with monetization, such as charging for workshops or pursuing consulting projects.
Marketing, PR, and Pitching
The 101 of Press
Slides 43 and 46 provide a blueprint for media outreach. The program instructs founders to construct a '3 paragraph email' for press releases and to target 'amplifiers' such as alumni networks and HARO (Help A Reporter Out). It emphasizes the use of LinkedIn contact exports for Mailchimp blasts, a practice that, while common in 2016, would be subject to stricter GDPR and anti-spam regulations today.
Pitching Mechanics
Slide 49 breaks down the 'Teaser' pitch into a strict 60-second format: 30 seconds for 'What & Why,' 10 seconds for 'Value,' and 20 seconds for 'Traction & Call to Action.' For longer pitches (2-10 minutes), it suggests including pre-recorded demos, financial metrics, and team profiles. The slide also advises founders to 'exploit application weaknesses' in elite competitions rather than avoiding them.
The 'Top 99 Mistakes' Series
A recurring theme in the latter half of the deck ( Slides 55, 58, 61, and 64 ) is a list of mistakes to avoid. Key warnings include:
Product Dev: Launching based on an idea rather than a problem, and paying for growth too early, which leads to 'false success markers.' · Business Dev: Depending too heavily on partnerships for growth, which the deck labels a 'Red Flag.' · Marketing: Paying thousands for stock photos instead of using authentic, recycled materials from events. · PR: Cold calling reporters before the startup is ready or emailing random reporters who don't cover the specific industry.
What Works in This Deck
Tactical Depth: Unlike many accelerator decks that remain high-level, this deck provides specific URLs, follower count targets, and email structures that founders can immediately use. · Regional Authority: By listing 34 partner programs, the deck successfully positions CaribbeanStartups.com as a central hub in a fragmented geographic market. · External Validation: The inclusion of high-profile US judges on Slide 67 provides the 'bridge' to larger markets (like New York and Boston) that many Caribbean founders seek.
What Is Missing
Success Metrics: While the deck mentions the inaugural class, it does not provide data on how many of those companies successfully launched, raised follow-on funding, or achieved revenue. · Business Model: The deck does not explain how the accelerator itself is funded or if it takes equity in the 100 companies it processes each quarter. · Team Slide: While judges are listed, the core operating team behind CaribbeanStartups.com is not detailed in the provided slides.
Founder Takeaways
Founders should emulate the 'Value Raise' mindset shown on Slide 34 . In emerging ecosystems where venture capital may be scarce, quantifying the dollar value of legal aid, office space, and marketing partnerships can help build a balance sheet that looks attractive to later-stage investors. Additionally, the 'Teaser Pitch' breakdown on Slide 49 is a timeless template for any founder needing to explain their business in under a minute.
Frequently asked questions
- What is the primary goal of CaribbeanStartups.com according to the deck?
- According to slide 4, the organization aims to be the 'home of the Caribbean’s startup ecosystem.' Its primary function is a digital accelerator that moves 100 companies to market every quarter. It also serves as a central directory for regional entrepreneurship events and hosts monthly digital workshops to teach coding and business skills to entrepreneurs and students.
- How does the accelerator define its curriculum phases?
- The curriculum is structured into a three-day intensive agenda. Days 1 and 2 cover Orientation, Product Development, Customer Development, Funding, and Marketing. Day 3 is dedicated to 'Demo Day,' which includes a session on avoiding the 'top 99 mistakes' and a final pitch competition for 10 selected companies (Slide 52).
- What specific funding advice is given to the startups?
- The deck encourages startups to look beyond cash. Slide 34 suggests targeting 'in-kind' services for marketing and legal needs. Slide 37 lists crowdfunding platforms like Kickstarter and Kiva, while Slide 40 suggests 'creative' monetization, such as hosting $5-$10 workshops or pursuing consulting projects at entrepreneurship centers to generate early revenue.
- What 'growth hacks' does the program recommend for customer development?
- Slide 28, titled 'Fake the Hype,' recommends strategies used by successful tech giants. It cites Reddit's use of fake accounts to create the illusion of a populated site, Hotmail's viral email signatures, and Dropbox's referral storage incentives. It also suggests posting on 'the legendary 3': Reddit, Digg, and HackerNews (Slide 22).
- Who are the mentors or judges involved in the program?
- Slide 67 identifies US-based judges including Robby Bitting, the Director of Marketing at MassChallenge Boston, and Vanessa Alexandra Pestritto, a Partner at Lattice Ventures and former Executive Director of New York Angels. This suggests the program leverages international expertise to validate Caribbean startups.
