UVI offering $10K to residents for start-up businesses

Have you been thinking of starting a business but need an infusion of funds to get started? The University of the Virgin Islands, in partnership with 13D Research & Strategy, wants to help.

According to a UVI statement, students and members of the community have a unique opportunity to receive financial support for starting or growing their businesses through the recently launched 13D Milestone Funding Initiative. Under the initiative, UVI students can get up to $40,000 while ordinary residents can receive $10,000.

Unlike traditional business competitions, the program does not involve competing against other entrepreneurs. Instead, participants will pitch their business ideas to a panel of judges next month. The judges will determine if their proposed milestones warrant funding, and may approve or deny funding based on the perceived viability of the project and its potential for success. “The initiative provides essential financial backing to both students and community entrepreneurs either launching a new business or seeking to grow an existing venture, allowing them to accelerate their entrepreneurial endeavors and contributing to their success in the Virgin Islands’ dynamic business landscape,” the release stated.