RevUP will admit two cohorts per 12-month period, each of 5 months’ duration. Each Cohort will have two tracks – one track for “Equity-seeking StartUPs” pursuing an incubation programme and the other track representing “Growth-seeking ScaleUPs” principally pursuing a training programme. We will strive to include as many female founders as possible.
Selection for the Training Programme
This programme will be delivered in collaboration with RevUP’s partner, National Commercial Bank Jamaica Limited, and is exclusively for the Bank’s clients.
The Training Programme for Growth-seeking ScaleUPs will be delivered virtually, using the OneXL digital platform.
Selection for the Training Programme
We will identify the best Founders of companies that have the potential for high growth and access to financing by the end of the programme. RevUP will use a four-step process to ferret out the best candidates.
Selection and graduation of Founders are critical for a successful incubator. The screening process is designed to meet RevUP’s mission and ensure that the firms selected will benefit from its value-added services.
NCB will select the participating firms based on the following criteria:
Formalising the Incubation Agreement
Once accepted, Founders and their teams will be required to sign a binding agreement which details:
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 will 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. Extended DISC Assessment and Strategic Planning
After completing the on-line application, Founders selected for the Incubation Programme will complete the Extended DISC, a 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.
C. Weekend Retreat facilitated by McKinsey & Company
The final activity for each Cohort is an in-person weekend retreat on Jamaica’s North Coast, 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.
This programme costs US$2,500, but thanks to subsidies and generous donors, your investment is only US$250 if shortlisted. Please indicate if a payment plan is required when completing the application. This programme is only available to NCB business clients in Jamaica.
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