JGX Invests In Jamaican startups

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There is no denial that Jamaicans have some of the greatest minds coupled with ideas and that is the reason american tech expert, JJ Geewax has set up a local incubator slated for official launch tomorrow. The Company will invest in local startups and inspiring entrepreneurs who want to venture into the Global Tech industry.

invite_logo_white_hiGeewax who is a chief engineer at the Google Acquired Invite Media, an advertising display company based in New York City. He decided to start JGX after noticing the countries software development talent.

The Company, JGX Labs based in New Kingston will offer capital, legal support, technical and business mentoring to the startup’s. The Company is said to offer overseas designers or commercial space all of that for free. The Companies will also be run by their own teams and work on their own projects as anyone else.The incubator helps people to turn their idea into a tech business or expand their existing customer base outside of Jamaica, by teaching them how to build software the right way, sell products to customers abroad and help them with problem-solving.

It already has Four local companies, owned by young Jamaicans who have signed on:

Blaze Payment Limited, a mobile payment tool allowing persons to “top up” their account, either with a credit card or by purchasing credit from a friend, and use this credit to buy meals and other items from the Blaze Network of merchants. Their website (http://www.blaze-pay.com/) at the time of writing is slated to be released in the next 13 hours.

edufocalEdufocal, An online learning website revolutionizing the way humans(yes everyone) learns for CXC and GSAT through its Rewarding System.The long-term goal of EduFocal is to tackle corporate learning which, according to recent estimates, is a US$56 billion market.

HireForge, an online application tracking and hiring pipeline system targeting small businesses.

CheckPoint.io, a “internal version of Twitter” focused on helping small companies or teams keep track of what members are doing on a day-to-day basis, using daily reminder and team summary emails.

The details of each contract are confidential, but the companies are each injected with capital of anywhere between US$5,000 ($506,000) and US$15,000 ($1.5 million), according to Geewax. He assure Observer Journalist that Companies can get 2 million if they need it but that even has  yet to take place.  He goes on to say that the aim is to have the startups concentrate on their creative talents and was time/money figuring out what to do with the money.

Aspiring Tech entrepreneurs are not be deterred if they don’t have an existing business, or even an idea. The basic need for joining JGX is technical knowledge, according to Geewax.

JGX’s directors are Imani Duncan-Price, JMMB Group’s chief strategy officer, and attorney Ashley-Ann Robinson-Foster.

The lab aims to have the start-ups exporting software and earning hard currency by the end of summer, and give useful solutions to clients in the USA, Europe and Asia on a sustained path.

Feel free to use the revolutionary functions of our Comment area to press your views on this issue.

Source: Techie Injection – Google engineer investing in technology start-ups

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