Island Luck has shelled out $300,000 in the past two years to jump-start Bahamian businesses, and its CEO Sebas Bastian is looking forward to helping another 20 businesses through another $150,000 in grants this year.
According to Bastian, the OWN Bahamas entrepreneurship program has had a 90 percent success rate, with the businesses funded "making a mark for themselves".
"In our 2016 successful applicants, we had an almost unanimous conversion rate, meaning that all 10 are up and running, have been funded, and are doing very well today," said Bastian.
Some of the successful candidates have been Kwivan Miller, owner of BBQ King and Selima Hauber of Field to Fork Farms. Hauber said the grant allowed her company to purchase a hand-held tractor. In a video at Island Luck's head offices the tractor is seen being used to plow the land where Field to Fork's farming is done.
"We're excited to be a part of building the future of The Bahamas," said Bastian. "And we all know we want to build that future through ownership."
This third annual OWN Bahamas grant funding entrepreneurship program also affords the winner a free year of cable television from Bahamas Telecommunications Company (BTC), a six-week course at the University of The Bahamas, and mentorship.
"It's more than just handing them a check and then walking off," said Bastian. "We provide for them every step of the way."
When the application process closes at the end of this month, a select committee will narrow almost 2,500 applications down to 20 successful applicants.
Bastian said he hopes to increase the number of successful applicants this year. However, that will depend on funding. He said while the Island Luck Cares Foundation currently funds the OWN Bahamas program, he invites the private sector to get involved in funding the initiative.
Bastian said OWN Bahamas is important to him because he has seen many small and medium-sized businesses go under due to a lack of funding. He said the root of many of the issues in the country stem from the lack of opportunity for prospective entrepreneurs.

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