Selection for the Training Programme – “Equity-seeking MSEs”
This programme will be delivered in collaboration with RevUP’s partner, the National Commercial Bank, and is exclusively for the Bank’s clients.
This programme will be delivered in collaboration with RevUP’s partner, the National Commercial Bank.
The Bank will be responsible for selecting the participating MSEs based on the following criteria:
- Business model
- Potential for growth
- Quality of the Team
- Willingness to take advantage of and be able to benefit from the training and guidance offered by the incubator?
- Ability to pay.
Business Support Model
The 5-month incubator programme is designed to increase the likelihood of successful development of early stage and growth stage companies, facilitating growth that is beyond what each participating company could achieve on its own. Offering value-adding services will be key to RevUP’s ability to successfully nurture high growth firms, provide them with access to capital, help them grow and scale and generate jobs and wealth.
RevUP will draw on the vast human and resources of our Partners – a cadre of trainers, professionals, including lawyers, IP Lawyers, accountants, auditors, tax specialists, marketing and management consultants, valuation specialists, human resource and others – to support its clients. Our key partners include the National Commercial Bank Jamaica Limited (NCBJ) and the World Business Angels Investment Forum (WBAF). We expect to onboard other key partners who will be leveraged to provide the most appropriate support needed for Founders to grow and scale their businesses profitably and sustainably.
The 5-month incubation programme will have the following components:
A. 360 Degree Assessment and Strategic Planning
After completing the on-line application, Founders selected for the Incubation Programme will complete a structured psychometric assessment and participate in an on-line interview. Each Founder will map their vision with defined goals and objectives, and together with the Management team, perform an analysis to identify the gaps between the current status and the vision. The Founder, with guidance from the Management team, will design a strategic growth plan that will fill these gaps and facilitate the business achieving the vision.
B. Training Programme – Establishing the Founder as a Business Development Leader
- Going Digital
- Becoming a Million Dollar Marketer
- Develop Business and Marketing Acumen
- Achieving Product-Market Fit
- Customer Psychology and the Buying Process
- Sales Models and Processes
- Creating Growth through Relationships with Customers and Partners
- Effective Communication – how and where to talk to your Customers
- Introduction to Accounting and Finance
- Business and Tax Laws
- Building Financial Projections to Achieve Business Goals
- Corporate Governance
- Managing Talent and Culture
- Strategy, Growth and Scaling
C. Weekend Retreat facilitated by McKinsey & Company
The final activity for each Cohort is a virtual weekend retreat, facilitated by McKinsey & Company’s SME Practice Fuel, on “How to become a Successful CEO”. Loaded with insights from McKinsey’s proprietary database on CEO performance, the largest of its kind, containing 25 years’ worth of data on 7,800 CEOs from 3,500 public companies across 70 countries and 24 industries, McKinsey’s will engage Founders in discussions and exercises on what it takes to become a successful CEO.