In 2025, Jamaica’s startup ecosystem is experiencing unprecedented growth, positioning itself as a leading hub for innovation and entrepreneurship in the Caribbean. With a vibrant community of over 40 high-tech startups, the nation is making significant strides in technology and business development.
Leading Startups Driving Innovation
Among the top performers is JASMEF, a next-generation impact SME private equity fund managed by the World Bank and the Development Bank of Jamaica. This initiative supports small and medium-sized enterprises (SMEs) globally, fostering economic growth and development.
Another notable startup is Lynk, Jamaica’s innovative digital wallet launched by TFOB (2021) Limited. Designed to enhance the way people send, spend, collect, and track money, Lynk leverages technology to empower Caribbean communities and transform financial experiences with speed and convenience.
Amber Pay is also making waves as a global software company dedicated to developing sustainable and socially responsible technology solutions. Its Amber e-Stores empower businesses to create their own online shops, joining a vibrant community and enabling sales from anywhere.
Strengthening the Startup Ecosystem
Jamaica’s startup ecosystem ranks 89th globally and 1st in the Caribbean, with startups raising an average of $2,172,857. This growth is supported by initiatives like the Boosting Innovation, Growth and Entrepreneurship Ecosystems (BIGEE) program, a five-year, $25 million project financed by the Inter-American Development Bank. Managed by the Development Bank of Jamaica, BIGEE aims to promote sustainable growth among startups and SMEs.
The Jamaica Business Fund (JBF), a component of BIGEE, offers grants of up to $300,000 to clusters of businesses. These grants cover up to 70% of project costs, supporting both horizontal business alliances and vertical business alliances led by anchor firms.
Venture Capital and Investment Opportunities
The venture capital landscape in Jamaica is evolving, with the Caribbean Venture Capital Fund (CVCF) leading the charge. This $50 million fund focuses on early-stage scalable businesses, recently investing in Doorstep, a rapidly growing online delivery service. This investment aims to accelerate Doorstep’s expansion within Jamaica, the Caribbean, Latin America, and eventually Africa.
Events and Accelerators Fueling Growth
To further stimulate the startup ecosystem, events like the Jamaica Tech Summit are scheduled for November 13, 2025, in Kingston. This international program features 100 global speakers and partners passionate about Jamaica’s future, aiming to catalyze entrepreneurial and business ecosystems in emerging markets.
Additionally, the Founder Institute is accepting applications for its Jamaica 2025 program. This accelerator offers a structured process and lifetime support from top investors and entrepreneurs, helping early-stage founders reach milestones needed for investment and sustained growth.
Challenges and Future Outlook
Despite the positive trajectory, challenges persist, including limited access to finance, a risk-averse culture, and a need for stronger community among stakeholders. However, with continued support from government initiatives, venture capital investments, and a growing network of accelerators and events, Jamaica’s startup ecosystem is poised for sustained growth and innovation in the coming years.
As the nation continues to invest in infrastructure and create a conducive environment for business development, Jamaica is set to solidify its position as a premier destination for startups and entrepreneurs in the Caribbean and beyond.
Photo of the portrait: Depositphotos
