In our June 11th, 2024 session, we had the privilege of featuring Selwyn Cambridge, Founder and Executive Director of TEN Habitat, a non-profit dedicated to supporting Caribbean entrepreneurs in creating investor-ready businesses. With his vast experience as a serial entrepreneur and marketing strategist, Selwyn has become a leading voice in fostering innovation ecosystems throughout the Caribbean. During the session, Selwyn shared thought-provoking insights on entrepreneurship, collaboration, and the systemic changes needed to transform the region's start-up landscape.
Key Insights:
- Entrepreneurship vs. Small Business: Understanding the Difference
Selwyn emphasized the distinction between small businesses and entrepreneurship in the Caribbean. Small businesses often emerge out of necessity, providing subsistence for their owners. In contrast, entrepreneurship focuses on solving systemic problems with scalable solutions. This shift in mindset, Selwyn argued, is critical for driving regional development.
"Entrepreneurship is about problem-solving; small businesses focus on subsistence."
Entrepreneurs by design actively address challenges that impact communities, creating solutions that are scalable beyond local markets. - Innovation Thrives on Collaboration
A major challenge in the Caribbean is the lack of collaboration within innovation ecosystems. Selwyn highlighted the need for systems that promote collective efforts over isolated ventures.
"Innovation doesn’t happen in isolation; it thrives on collaboration and convergence."
Breaking down silos and encouraging multidisciplinary teamwork can unlock ground-breaking ideas and scalable solutions. - Trust is the Missing Ingredient
Trust issues, Selwyn explained, are a significant barrier to collaboration in the region. Entrepreneurs often hesitate to share ideas, fearing theft or failure.
"When your past is your supreme teacher, progress becomes your prison."
Overcoming this barrier requires creating environments where entrepreneurs feel safe sharing and executing ideas collectively. - The Critical Role of Patient Capital
Funding alone isn’t enough to drive innovation. Selwyn stressed the importance of patient capital—investment that allows bold, untested ideas to develop and grow.
"Patient capital is the oxygen that bold ideas need to thrive."
Without this, many great ideas remain unexecuted due to lack of resources and risk tolerance in the ecosystem. - A Global Mindset for Caribbean Entrepreneurs
Selwyn encouraged entrepreneurs to view their local markets as testing grounds for globally relevant solutions.
"Treat our markets like petri dishes, but solve global problems."
By leveraging international networks and solving problems with global applicability, Caribbean entrepreneurs can amplify their impact.
Call to Action: Fostering Collaboration and Innovation
This session underscored the importance of trust, collaboration, and patient investment in building robust innovation ecosystems. As Selwyn noted, change begins with us—entrepreneurs and changemakers must actively engage with each other and build communities of practice to scale solutions beyond the Caribbean.
About Selwyn Cambridge & TEN Habitat
Selwyn Cambridge is a serial entrepreneur and the Founder and Executive Director of TEN Habitat, a non-profit organization based in Barbados. TEN Habitat focuses on nurturing Caribbean entrepreneurs by developing investor-ready firms and engaging the diaspora to co-invest in them. Selwyn also founded the Caribbean Startup Summit, an annual event connecting a global start-up community with regional entrepreneurs to share knowledge and scale impactful ventures. With over two decades of experience in marketing and branding, Selwyn has received multiple American Advertising Federation Awards. Through TEN Habitat, Selwyn has also established a business accelerator, a co-working facility, and the Source Code Developer Academy to support the region's tech talent. His vision for TEN Habitat is to create a nurturing space where entrepreneurs can collaborate, innovate, and thrive.
To learn more about TEN Habitat and its impactful programs, visit TEN Habitat's website.