BY JOHN HOUANIHAU
Ten local emerging entrepreneurs proved their business potential at the Iumi Gro Business Accelerator Shark Tank finale, an initiative funded by the Australian High Commission (AHC) under its private sector development program.
A statement from AHC said the 10 local Small and Medium Enterprises (SMEs) received five months of intensive training, mentoring, and business development support, and were then able to pitch their growth strategies to a panel of judges and investors.
The five winners are Cravings, SolAgro, B&E Diving, Aelan Cruise and CEMs Holdings, and they each secured SBD100,000 in co-investment to support their businesses.
AHC said the runners-up; Menah Fish Supplies, Shine Bright Cleaning Services, Storeroom Productions, Sone Logistics and Smart Technology secured support from the Ministry of Commerce, Industry, Labour and Immigration (MCILI) to continue strengthening their businesses.
Founder of CEMs Holdings, Rose Korinihona, described the program as transformative.
“The Accelerator pushed us to refine our vision and sharpen our strategy. Pitching at the Shark Tank finale was both challenging and inspiring, and this support will help us take the next step in growing our business,” she said.
Minister for Women, Youth, Children and Family Affairs, (MWYCFA) Cathy Nori, highlighted the important role of women in business.
“Women are capable and effective business leaders. Despite the challenges they face, women entrepreneurs continue to demonstrate resilience and determination.
“When women participate in economic development, the benefits extend beyond individuals to families and entire communities, creating more inclusive and sustainable growth,” she said.
Australian High Commissioner to Solomon Islands, Jeff Roach, commended the participants.
“Congratulations to all ten Iumi Gro SMEs for delivering outstanding presentations of your business plans.
“Australia will always support new and ambitious local businesses. They are the future of the country’s private sector and key to delivering more jobs and higher incomes for Solomon Islanders,” he said.
Permanent Secretary of Ministry of Commerce, Industry, Labour and Immigration (MCILI), Riley Mesepitu said the finale reflected the strength of Solomon Islands’ small business community.
“Our entrepreneurs are resilient and forward-looking. Through this partnership with Australia, we are equipping them with the tools, confidence, and investment support needed to grow sustainable businesses that create opportunities for our people,” he said.
The Australian High Commission said the Iumi Gro Business Accelerator is the first initiative of its kind in Solomon Islands and reflects Australia’s ongoing support for local businesses and the broader private sector to generate more jobs and increase incomes in the Solomon Islands.
Photo credit: AHC
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