Ministry of Trade & Industry and UTC Reaffirm Support for Entrepreneurs Through Scale Up TT
June 28th, 2024 – The Ministry of Trade and Industry (MTI) and the Trinidad and Tobago Unit Trust Corporation (UTC)…
UTC Partners with Tobago Business on Scale Up TT
September 12th, 2024: The Unit Trust Corporation (UTC), in partnership with the Tobago Division of the Trinidad and Tobago Chamber of Industry and Commerce (TT Chamber), hosted a business luncheon on September 10th 2024, held at Comfort Inn and Suites, Tobago, to engage the business community in vibrant discussions about fostering entrepreneurship through the Scalerator of the Scale Up TT Programme.
ScaleratorTT is a highly impactful business accelerator program that aims to elevate Trinidad and Tobago’s entrepreneurial landscape to scale new heights. UTC, in partnership with the Ministry of Trade and Industry and Professor Daniel Isenberg’s Entrepreneurship Policy Advisors, recently launched cohorts 4 and 5 and urged businesses in Tobago to become part of the growing network of Scale Up entrepreneurs.
In his welcome remarks, UTC Executive Director Nigel Edwards told members of the Tobago Chamber that Scale Up was not only about fostering growth but providing support. “We understand the unique challenges faced by Tobago business owners,” he said and stressed that “Scale Up TT goes beyond the numbers on a balance sheet. It empowers you to nurture your passion, make impactful decisions, and contribute to the well-being of your employees, customers, and community.”
Businesses participating in the previous three Scalerator cohorts of Scale Up TT represent starting revenues of $TT460 million and are estimated to have since generated a staggering $100 million to $150 million of new revenues, positively impacted 1,200 employees, produced 173 successful graduates, and fostered the thriving success of 34 companies.
In her feature address, Councillor Petal Ann Roberts, Secretary, Division of Finance, Trade & The Economy, Tobago House of Assembly (THA), said Scale Up TT has been more than just a programme; it has been a catalyst for transformation within the business landscape. “By equipping our companies with the tools, strategies, and insights needed to accelerate their growth. Scale Up TT has empowered us to dream bigger, reach higher, and achieve what once seemed impossible.”
Waltnel Sosa, the local representative for US-based Entrepreneurship Policy Advisors (EPA) that has partnered with UTC on Scale Up TT, emphasised that the purpose of a scale-up project in any region is to strengthen the local ecosystem so that more local companies will grow rapidly in a visible, measurable way and growth will become a permanent feature of the economy. This programme has been successfully replicated across countries worldwide including Colombia, Guatemala, Brazil, Panama, the US, and Canada.
Sosa maintained that Scale Up TT will shape the country’s future by creating and enabling a culture of sustainable growth and breaking new ground in entrepreneurship in both tangible and vivid ways.
Deon Rojas of Rojas Engineering Limited, a graduate of ScaleratorTT, highlighted how ScaleratorTT significantly impacted his business. He underscored the transformative potential of the ScaleratorTT in driving business growth and success.
Scale Up TT’s Scalerator boasts impressive results from its previous three cohorts such as a double-digit increase in sales, and sustained uptick in new business deals, regional expansion into new territories, improved recruitment, increased staff morale, and consistent achievement and exceeding of sales targets.
Are you ready to scale your business? Visit our website at www.scaleuptt.com for more information.
For more information, please contact Rory Rostant, Corporate Communications Manager, Unit Trust Corporation: [email protected]
Nigel Edwards, Executive Director, UTC (center), stands with from left, Deon Rojas, Rojas Engineering Limited, Deyson Scott, UTC Chief Sales and Marketing Officer, Curtis Williams, Chairman, Tobago Division – T&T Chamber of Industry and Commerce, Councillor Petal Ann Roberts, Secretary, Division of Finance, Trade & The Economy, Tobago House of Assembly (THA), Hema Ramkissoon, Head, Marketing, UTC, Waltnel Sosa, Local Representative of Entrepreneurship Policy Advisors, Desiree Hackett-Murray, Senior Financial Advisor (Ag.), and Wendy Bishop, Manager, Research, at the Scale Up TT business luncheon at Comfort Inn and Suites, Tobago.