For years, many young Saint Lucians dreamed of starting their own businesses, but most had neither the money nor the mentorship to make those dreams become reality, but that story is beginning to change.
This national issue is one the Youth Economy Agency (YEA) is aiming to solve.
The YEA through their projects is helping transform ideas on paper into legitimate enterprises with results that have been visible over the years including hundreds trained, dozens funded, and a growing culture of entrepreneurship taking root.
YEA was established under the Youth Economy Act No. 17 of 2022 and launched in April 2023, as a statutory body to provide young Saint Lucians aged 15 to 35 with access to finance, capacity building, and business support services.
According to its own profile, YEA is addressing two major economic challenges: youth unemployment and inadequate youth participation in the micro, small and medium enterprise (MSME) sector.
Official data shows youth unemployment in Saint Lucia decreased from 26.8 per cent in 2022 to about 25 per cent in 2023, though still well above the overall unemployment rate.
International support backing the project underscores the importance of the project aims, with the Caribbean Development Bank (CDB) co-financing the Youth Economy Project with US$7.6 million, aiming to reach more than 3 000 young persons with training and financial support.
The Angel Fund programme is a component of the YEA’s training-grant framework, and while not every training programme leads to an Angel Fund, for those that do, the outcome is a tangible injection of resources into business operation, equipment, or assets.
YEA’s Business Development Officer Ginel Mondesir explained the grants offered more than just financial support.
“Our grants are given to entrepreneurs between the ages of 18 to 35, and it’s an injection into your business… We analyse the business and, based on your requests, determine if the items you’re requesting are in line with your business.
“Once it is, then we would provide that support where we give you that cash into purchasing those items for your business,” Mondesir said.
“It’s like another component of our training. Not all training programmes come with an Angel Fund… After the programme, clients are assessed; for example, in a sales and marketing course, they’d have to develop a marketing plan for their business. Once they’re successful, they’re awarded an Angel Fund.”
Training courses that typically come with the Angel Fund include ‘Introduction to Business Readiness’, ‘Fundamentals of Digital Marketing’, ‘Artificial Intelligence for Business’, and ‘Sales and Marketing’.
From a procedural standpoint, the funds are often not handed over as cash. Instead, as described in the grant-disbursement procedure, the YEA procures equipment or services on behalf of the beneficiary, which ensures alignment with the business plan and accountability.
While the Angel Fund is sometimes described interchangeably with the ‘grant’ programme, internally YEA makes the distinction that the Angel Fund is specific to training programmes with a business readiness outcome.
While internal YEA figures indicate 250 applications, 120 enrolled, and 114 completed (for a given training programme) a few milestones stand out:
- Between 2023 and 2025, training numbers grew significantly with 306 people trained in 2023, 365 in 2024, and in 2025 to date, 1 061 people have been trained.
- Angel Funds/Grants disbursed: 144 in 2023, 139 in 2024, and 236 in 2025 to date.
The YEA’s work has had compelling results. One such testimony comes from Crea John, who founded Cre’s Catering and Cre’s Event Planning & Décor. “
“The training opportunities provided by YEA have not only strengthened my skills in key areas of business growth and sustainability, but have also empowered me to believe in my vision and push beyond my limits.
“With the invaluable support of grant funding and mentorship, I have been able to scale up my businesses, explore new ventures, and expand my contribution to the economy,” John said.
“I am deeply thankful to the YEA team, my mentor, and all those who have inspired and encouraged me along the way. Your dedication to empowering young entrepreneurs is making a remarkable difference, and I am honoured to be one of the many beneficiaries of your vision.”
John’s story highlights three key impact pathways. First, she gained valuable training in business planning, marketing, and digital skills that strengthened her capacity as an entrepreneur. Second, the capital support she received through grants or the Angel Fund enabled her to purchase essential tools and equipment for her business. Finally, by fostering confidence, building networks, and providing mentorship, the programme helped her scale her business and achieve long-term growth.
Beyond her case, YEA reported grant-recipients across sectors including agriculture, manufacturing, tourism services, media, technical trades, and creative industries.
Despite the successes, YEA faces major capacity constraints and rising demand.
When the grants programme launched, only two officers were processing applications and quickly became overwhelmed by the volume of applications. The backlog forced a temporary suspension of new applications.
Prime Minister Philip J Pierre acknowledged the popularity of the initiative.
“The volume of applications has been great, but… we have not been able to move as quickly because of the funds,” he admitted, while revealing that it was the government’s intention to double the grant allocation.
Internally though, not every enrollee receives the Angel Fund. Of 250 initial applicants, only 114 completed and were eligible and it is likely that those numbers decrease due to training completion, business-plan assessment, or eligibility criteria.
These pressures facing the YEA raise key questions: How sustainably can the programme be scaled? Are the training programmes sufficiently rigorous and relevant? Is the Angel Fund value sufficient to really scale a business?
In terms of sufficiency, the Angel Fund ceiling of up to $5 000 is appropriate for micro or early enterprises, but not for high-growth firms.
Further, beyond funding, the capacity of entrepreneurs themselves to absorb and apply the training is variable. According to YEA, small and medium enterprises often lack financial literacy and management capacity, which remains a broader constraint.
Still, the systemic design, combining training, business planning, assessment, equipment support, mentorship and funding, places the YEA in a promising position.
Measurable effects of the Angel Fund and YEA programmes
The injection of millions of EC dollars into youth-led MSMEs contributes to employment creation, business formation, and productivity gains in micro sectors. The International Monetary Fund observed that “the youth unemployment rate has dropped from a high of 37 per cent in 2021 to 17 per cent in 2024” likely in part due to initiatives like YEA.
Cross-sectoral impact: Beneficiaries are operating in agriculture, agro-processing, manufacturing, digital services, tourism, and creative industries, thus aligning with the blue, green, and orange economy strategies.
Gender balance: Grant recipients reported 56 per cent participation of females (by March 2024). This is significant given the historically lower female entrepreneurship uptake in Saint Lucia.
These effects indicate that the Angel Fund and YEA are more than token gestures — they are building an ecosystem, enhancing capabilities, and enabling youth to convert ideas into viable enterprises.
As Saint Lucia charts its path through post-pandemic recovery, climate vulnerability, and shifting economic structures, youth entrepreneurship stands as a key pillar. The YEA, with its Angel Fund and training programmes, plays a pivotal role in this transition.
The Prime Minister’s announcement that the government intends to double the grant funding for YEA underscores the perceived value and urgency of this intervention.
Yet money alone is not enough.
The broader goal is a resilient youth economy: businesses that survive, thrive, employ others, innovate, and contribute to the ecosystem. When that happens, people believe that the Angel Fund will be seen as the spark — not the fire itself.
The Angel Fund and the YEA’s training-grant ecosystem are evaluated by the number of young people who build sustainable, growth-oriented businesses. Early indicators include a rising number of participants, cross-sectoral reach, gender balance, and external backing even while scaling remains challenging.
When one considers the alternative, where many youth would lack both the capital and the training to launch businesses, YEA is already making a difference.
As one beneficiary put it: “The training… empowered me to believe in my vision and push beyond my limits.”
