DSC benefits from crowd funding training

DOMINICA:  The OECS Competitive Business Unit held a one-day E-Business (crowd funding) training at the Dominica State College on Monday, 11^th April.

Crowd funding is the practice of funding a project or venture by raising monetary contributions from a large number of people.
The primary focus of the OECS Business Unit is on competitiveness and innovation in the small and medium size enterprise in the OECS.
The training targeted lecturers and students of the Dominica State College.
Marlon Marie is officer in charge of the Organization of the Eastern Caribbean States Competitive Business Unit.
“The training session is geared towards opening minds into technologies that are available and tools that are available out there for access to finance. We are not only working on crowd funding, we are also teaching social media skills and marketing skills. Students use social media for various things and it is important for them to realize that there is a business aspect to social media. We are trying to get them to think more positively in terms of the use of these tools.”
Marie said that when an individual is involved in crowd funding it is important to always look at their actions on social media.
In detailing some of the topics for discussion at the training he said, “We are trying to show persons that it is not a new phenomenon, also we are going to show the students and the lecturers what crowd funding is like presently by using the internet. We are going to be teaching about pitching your idea because it is very important to pitch your idea. One of the main activities is the utilization of videos, because when you launch a crowd funding campaign you need to have an effective video. There is going to be group activity to prepare a pitch for crowd funding and social media marketing as well.”
Marie said he would like young people to know that social media is here to stay and it can be used positively.  He is also hoping that young persons can recognize and take advantage of the business opportunities social media presents.
The OECS Commission is working collaboratively with the Vision Funder, one of the first crowd funding platforms in the Caribbean. Vision Funder is a subsidiary of legacy global, a Barbados based company which provides access and services globally.
Consultant for Vision Funder, Eldonna Lendor, told participants of the training that the primary focus of Vision Funder is the economic development of the region.
She says the company has recognized that sometimes the services available are not always contextualized to the Caribbean and is aspiring to provide the type of support that the Caribbean is geared towards.
“So we take pleasure to introduce you to our very own Caribbean crowd funding platform, a platform that is geared towards providing this type of service not only to the Caribbean but globally,” she said.
Last year the OECS Competiveness Business Unit trained 43 small and medium sized enterprises and has now placed sole focus on the youth by preparing potential entrepreneurs for the market.