The contract was awarded after an international tendering process. Linc chief executive David Grahame told The Scotsman that the organisation has been tasked with setting up three angel groups in the Caribbean within ten months, using the expertise built up in Scotland since its formation 1993.
Grahame said: “There is a view among some of the development bodies, like the World Bank, that it’s useful to look for examples other than those that have all the advantages of Silicon Valley, where there is a very active angel scene.
“A lot of people from the Caribbean go to the US or elsewhere for their education and career, so that means there’s a movement of diaspora money back to try to help their own region. We’re there to help those people form groups to get that delivered, because doing it on your own is a pretty thankless job.”
Nelson Gray, Linc’s director of market development, has travelled across the Atlantic to start preparing for the initial programme in the Caricom economic region, which includes 15 nations and dependencies such as the Bahamas and Jamaica.
Grahame said potential areas for investment were early-stage software and biotech firms as the area seeks to reduce its dependence on tourism spending. He also said Linc was hopeful of signing more agreements with the World Bank.