Questions & Answers About IIAEI

Here are some questions & answers we have received about IIAEI or the Invest in an Entrepreneur Initiative.

Q: For the many entrepreneurs who may be a position where they are looking more for investors and support than they may be thinking about offering investment to others, what is your advice about getting involved?

A: Great question! The IIAEI actually addresses both sides of the coin. The concept is that successful Entrepreneurs and businesses invest in startups, and yes, startups can invest in startups too! 😀 There are 3 options to consider; Business Shower, Business Sou Sou and Crowdfunding (this one is currently being worked on with a non-profit organization which assists startups in the region) the landing page will be updated on this one very soon.

The thing to remember is that there is always someone who has what you need to get started, and there is always something that you, can in turn do for that person who helped you. What needs to be discovered, is what that 'need' is, and then work TOGETHER to achieve the goal. Because at the end of the day, we are ALL part of the Entrepreneurial Community. So let's build, strengthen and grow it! We don't wait for change, we create it!

Q: What about this initiative is so ground-breaking? Why would anyone consider it important?

A: This initiative pushes against traditional boundaries. We Startups need to toss away the crutch (mindset) that we can only depend upon grants and high profile investors to get to the next level. Yes, they have their place in our journey in assisting us to accomplish goals at a faster pace. But the hard truth is, in most cases, investors want to see how much we have already invested in our ventures, before considering coming on board.

The new reality that we should strive to create, is that we startups have an already existing network of supporters - EACH OTHER! We need to show some level of traction first, even before approaching investors or funding agents (for some countries like St. Lucia, it's a minimum of 2 years traction). We need to start in the 'Startup Community' first, and then put ourselves out there. We have what it takes to do it. Whether the investment be in our education (courses/workshops/conferences) or in acquiring raw materials/supplies or human resource or acquiring equipment for the business. Some sort of asset/collateral must be present to show 'self-investment'. Self-investment garners a lot more respect and consideration than no investment at all.

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