Startups & Entrepreneurship

BOOST Saint Lucia is a virtual incubator and accelerator launched in September 2020 by Invest Saint Lucia. Powered by the Startup Space platform, it provides structured support for entrepreneurial businesses through innovation education, mentorship, and digital tools.

Key Features

• Virtual-first model — accessible island-wide; no physical attendance required
• Structured curriculum covering business model canvas, market validation, financial planning, pitch preparation
• Mentorship matching with experienced entrepreneurs and industry professionals
• Access to tools via Startup Space digital platform

Partners

Apply: investstlucia.com/boost

A free virtual accelerator created through a partnership between the OECS Commission, Caribbean Development Fund (CDF), Draper University, and the Caribbean Development Bank (CDB). The program connects Eastern Caribbean entrepreneurs with Silicon Valley’s premier startup ecosystem.

Programme Structure

FirstAngels Caribbean is the region’s largest organized angel investor network, providing early-stage capital to Caribbean startups that are too early for institutional investment but beyond friends-and-family rounds.

Angel investment fills a critical gap in the Caribbean startup financing chain between government grants (typically under US$50K) and venture capital (typically over US$500K).

The SBDC (formerly the Small Enterprise Development Unit / SEDU) is a department within the Ministry of Commerce that provides holistic support for the Micro and Small Enterprise (MSE) sector. Officially launched in November 2014, its core mission is to help businesses become globally competitive.

Services Offered

• Long-term business consulting — One-on-one advisory for startups and existing businesses
• Training programs — Strategic business planning, financial management, marketing, sector-specific skills
• MSME Loan-Grant Facility administration — EC$10M facility with 70% grant / 30% loan at 3% interest
• Market research — Industry analysis, competitive assessments, export readiness
• Financing facilitation — Connecting entrepreneurs with SLDB, commercial banks, and grant programs

Invest Saint Lucia is the national investment promotion agency, providing one-stop-shop facilitation services to all investors — from solo entrepreneurs to multinational corporations.

Services for Entrepreneurs

• Investment proposal assessment and viability review
• Guidance through company registration, permits, and licenses
• Fiscal incentive application assistance (tax holidays, duty concessions)
• Site identification and facilitation (investment-ready BPO locations, industrial zones)
• Post-establishment support for smooth business settlement
• Sector-specific guidance: tourism, BPO, agriculture, manufacturing, renewable energy

Contact: investstlucia.com | William Peter Blvd, Castries

The OPSR, under the Ministry of Commerce, Business Development, Investment and Consumer Affairs, facilitates dialogue between government and the private sector. It coordinates programs that support entrepreneurial development, including climate adaptation finance for private enterprises and partnerships with international development organizations.

Established under the Youth Economy Act No. 17 of 2022 and officially launched in April 2023, the YEA is a statutory body providing young Saint Lucians aged 15 to 35 with access to finance, capacity building, and business support services. It is co-financed by the Caribbean Development Bank (CDB) with US$7.6 million under the Youth Economy Project, aiming to reach more than 3,000 young persons.

Training & Grant Performance

Key Programs

• Angel Fund Programme — Training-linked grants providing tangible resources for business equipment, operations, or assets. ~EC$4.5M total disbursed
• Mentorship Programme — Launched June 2023; connecting young entrepreneurs with experienced business leaders
• Digital Skills & Cyber Nations Training — ICT skills development including cybersecurity, digital marketing, and e-commerce capabilities
• E-Commerce Platform — Partnership with TPIsoftware and TaiwanICDF (2025) to launch digital marketplace supporting youth and women entrepreneurs
• Business Development Training — Workshops on business planning, financial literacy, marketing, pitching
• Loan Programme — Access to concessionary financing for youth-owned businesses

Website: youtheconomy.lc

A non-profit initiative established in November 2011 by the Saint Lucia Chamber of Commerce, SLYBT empowers entrepreneurs aged 18–35 through:

• Targeted training programs in business management and operations
• Dedicated one-on-one mentorship from successful business leaders
• Accessible financing options and micro-loans
• Strategic business development support and networking

SLYBT operates under the Chamber’s programs and has supported hundreds of young entrepreneurs since inception.

Operated by the Saint Lucia Development Bank (SLDB) as a subsidiary, YEEF provides equity financing (via preference shares) to economically and financially viable enterprises promoted by young persons aged 18–35.

Note: Interest rates for commercial bank SME lending average 6.29% (2024). The government MSME facility at 3% is significantly below market rates.

The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC), established by the ECCB, provides loan guarantees to help MSMEs access bank financing that they might otherwise be denied due to insufficient collateral or credit history.

Guarantee Products

Participating lenders in Saint Lucia: Bank of Saint Lucia (first signatory, June 2020), 1st National Bank, and Saint Lucia Development Bank.

The Regional MSME Matching Grant Programme is a World Bank-funded, OECS-led initiative (US$4.5M total) designed to increase productivity, create jobs, and strengthen MSMEs in blue economy value chains under the Unleashing the Blue Economy of the Caribbean (UBEC) project.

Grant Windows

Eligible countries: Grenada, Saint Lucia, and St. Vincent & the Grenadines. Window 2 opened February 12, 2025 with deadline March 19, 2025. Apply at oecs.int.

The Creative Economy Grant Fund provides EC$350,000 in grant funding to support the development of Saint Lucia’s creative industries sector. Targeted at individuals and enterprises in the arts and creative economy.

This fund addresses a critical gap for creative entrepreneurs who often lack access to traditional business financing. It supports both skill development and the acquisition of production tools and equipment.

The Caribbean Greenpreneurs programme provides interest-free financing for environmentally sustainable and climate-smart enterprises across the Caribbean, including Saint Lucia.

This programme is particularly relevant given Saint Lucia’s NDC 3.0 targets (40% renewable energy by 2030) and the growing demand for climate-resilient business models in the Caribbean.

Saint Lucia supports a growing range of digital payment options for online businesses:

International Payment Gateways

Regional & Local Payment Solutions

The Trade Export Promotion Agency (TEPA), also known as Export Saint Lucia, is the government body responsible for helping local producers access international markets. TEPA has developed several key initiatives for entrepreneurs:

Key Initiatives

• “Tastes of Saint Lucia” brand — Developed in partnership with the International Trade Centre (ITC). National brand for Saint Lucian food and beverage exports
• London retail nook — Physical retail presence in London showcasing Saint Lucian products to the UK market
• EXPORTALL platform — B2B e-commerce connecting producers with international buyers

Client Tiers

Saint Lucia’s coworking scene is still developing. Formal coworking spaces are limited compared to larger Caribbean markets, but several options exist for remote workers and startup founders:

Saint Lucia’s stable, pro-business environment, ease of access from North America and Europe, and growing consumer market make it attractive for franchise expansion. Franchising is flourishing primarily in food & beverage, hospitality, and retail.

Existing Franchise & Retail Brands

Gap Opportunities for New Franchises

• No major coffee chain — no Starbucks or equivalent; specialty coffee is a clear gap
• Limited fast food competition — room for additional QSR brands beyond KFC/Subway/Domino’s
• Fitness & wellness — no major gym franchise (e.g., Anytime Fitness, F45)
• Growing middle class demanding greater retail variety and international brands
• Tourism demand — 1.16M visitors/year creates demand for familiar international brands in Rodney Bay and Castries

Business Process Outsourcing has emerged as one of Saint Lucia’s fastest-growing sectors, with 3,000+ BPO workers employed primarily in Vieux Fort. The government has set a target of 1,000+ additional BPO jobs, further expanding the sector. The industry leverages the island’s English-speaking, educated workforce, US-aligned time zone, and competitive labor costs.

The Fiscal Incentives Act (Amendment) 2020 specifically added the ICT/BPO sector to the list of industries eligible for income tax holidays of up to 15 years and import duty exemptions on equipment. Invest Saint Lucia actively facilitates BPO investment with investment-ready sites and workforce recruitment support.

Fiscal Incentives Act

• Income tax holidays up to 100% for up to 15 years for qualifying manufacturing, tourism, and agricultural enterprises
• Import duty exemptions on raw materials, machinery, and equipment for approved enterprises
• Reduced corporate tax rates — manufacturing companies can qualify for rates as low as 10%
• Export allowances for companies earning foreign exchange

Budget 2025/2026 SME Measures

Other SME Benefits

• No capital gains tax in Saint Lucia
• No exchange controls — freely repatriate profits in any currency
• EC$ pegged to USD at 2.70:1 since 1976 — exchange rate stability
• Free Zone in Vieux Fort — duty-free imports, tax concessions
• VAT threshold EC$400,000 — small businesses below this are VAT-exempt
• Solar import duty exemptions since 1999 for renewable energy equipment
• CARICOM market access — free movement of goods across 15-member single market

In February 2026, Uber was ordered to halt operations in Saint Lucia following regulatory action. This highlights the challenges facing gig economy and ride-hailing platforms on the island, where the existing taxi and minibus transport sector has lobbied strongly against unregulated competition.

The VASP Act 2025 legalized and regulated virtual asset service providers in Saint Lucia, creating a formal licensing framework for cryptocurrency exchanges, custodians, and other digital asset businesses.

The Cannabis & Industrial Hemp Bill 2025 is under consideration, potentially opening an entirely new industry sector in Saint Lucia. If enacted, it would create a regulated framework for cannabis cultivation, processing, and industrial hemp production.

Government & Regulatory

Private Sector & Community

Banking for Startups

Export & Trade Support

Regional & International