CHARLOTTE AMALIE, St. Thomas, U.S. Virgin Islands – November 6, 2013 - To create an avenue that will spark viable economic development opportunities in the Territory and invigorate the entrepreneurial spirit of Virgin Islands residents, the V.I. Economic Development Authority (VIEDA) is seeking small business participants for the VIEDA Disaster Small-Midsized Enterprise Incubation Program. The VIEDA is also soliciting business consultants and support services businesses for this program to help start-ups and existing small businesses succeed. This incubation program will be administered on St. Croix at the William D. Roebuck Industrial Park.
This year, the VIEDA Disaster Small-Midsized Enterprise Incubation Program was awarded a grant in the amount of $1 million from the U.S. Department of Commerce's Economic Development Administration to provide consultants and support services to entrepreneurs that come into the incubator, and also small businesses that were affected by natural disasters.
"My sincere thanks and appreciation goes to the U.S. Department of Commerce's Economic Development Administration staff that approved this grant. To have the support of the federal government, in light of our current economic challenges, is indeed gratifying," said the VIEDA’s Chief Executive Officer Percival E. Clouden.
The VIEDA is encouraging all eligible small business owners in the industries of e-commerce, tourism, information technology, and professional services to apply and participate in its "Disaster Small-Midsized Enterprise Incubation Program." Eligible small businesses under the incubation program will gain access to high-speed internet (T1 Line) services, low-cost office rental space, shared office equipment, business advice from consultants for start-ups and existing businesses, and a resource library.
Professionals for support services and business consultants will be hired on a contractual basis. Services to be performed, but not limited to, include the following: technical and management assistance, accounting, periodic seminars and workshops, networking activities, business advice, mentoring, counseling, and consulting to help start-ups and existing entrepreneurs to become successful.
A pre-bid conference is scheduled forFriday, November 8, 2013 at 9:00 a.m. at the William D. Roebuck Industrial Park, Estate Negro Bay, Building No. 2, on the Melvin Evans Highway on St. Croix.
A detailed request for proposal packet can be obtained at the conference, or by November 14, 2013 at the Virgin Islands Economic Development Authority, No. 116 King St., Frederiksted, St. Croix, or at the VIEDA’s Disaster Small-Midsized Enterprises Incubation Program facility at the William D. Roebuck Industrial Park.
The deadline to submit proposals is November 15, 2013 at 4:00 p.m.
The VIEDA Small Mid-sized Incubator is a member of the National Business Incubator Association (NBIA), the world's leading organization advancing business incubation and entrepreneurship. Each year it provides thousands of professional with information, education, resources, etc., to bring excellence to the process of assisting early stage companies. NBIA serves more than 1,900 members in over 60 nations.
According to the NBIA, "business incubation is a business support process that accelerates the successful development of start-up and fledgling companies by providing entrepreneurs with an array of targeted resources and services. These services are usually developed or orchestrated by incubator management and offered both in the business incubator and through its network of contacts. A business incubator’s main goal is to produce successful firms that will leave the program financially viable and freestanding. These incubator graduates have the potential to create jobs, revitalize neighborhoods, commercialize new technologies, and strengthen local and national economies."
For more information, contact Incubator Program Manager Cusa Holloway at 340.719.2037. To learn more about the National Business Incubation Association (NBIA), visit www.nbia.org.
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