Published 4th February 2021, 10:30am
Minister of Commerce, Planning and Infrastructure, Hon. Joey Hew announced on Feb 4, 2021 that the Ministry is set to officially open a business incubator at the Cayman Islands Centre for Business Development on March 24.
The business incubator will house start-ups and business owners who do not currently have a work space from which to operate. It is expected that this will benefit up to twenty (20) micro and small business owners and entrepreneurs, at any one time.
The residential space will be made free of charge for up to two years. In addition to the space, they will have access to:
• Laptops and other office equipment;
• Business advisors right there at the location; and a
• Special advisory panel – consisting of legal, accounting and other business professionals.
A major benefit for the businesses that will be operating from the incubator - is that advisors at the Centre as well as other business mentors will provide strategic business development guidance to support them innovate and grow.