BUSINESS VENTURES GAINING MOMENTUM IN BIM

BARBADOS (June 2, 2010) - The Bimventures family of like-minded businesspeople focused on expanding the Barbados economy one successful enterprise after another has grown to more than 60 since the launch of the Barbados Entrepreneurs' Venture Capital Fund last November.

Barbadian change-engine consultant Dr. Basil Springer, project manager of the Fund, along with members of the Bimventures family recently gathered at The Artsplash Centre in Hastings, Christ Church for the organization's first networking session to strengthen relationships between entrepreneurs, shepherds, business advisers, board members of funded companies and trustees of the Fund.

Dr. Springer announced that with six projects already approved for venture capital funding, five approved for seed capital, and another 25 projects in the pipeline being considered for seed capital, the Bimventures management team will now concentrate on paying a high level of attention to current projects to ensure that they stay on track and contribute to the Fund's success.

"We have a new group of five entrepreneurs who have already been approved for seed capital funding and to whom shepherds have been assigned with the objective of making an application for venture capital funding," reported Dr. Springer, who said that rather than increasing the entry of applicants into the system, the focus would now be on ensuring that existing projects reach their full potential. "We have to focus on quality and sustainability rather than quantity," he explained.

Bimventures entrepreneur Derek Went of Went Caribbean Inc. nourished patrons with tasty food seasoned with his healthy WentWorx line of spices. Financial adviser to the Fund Jeremy Stephen displayed his DJ skills while providing entertainment for the event, while marketing adviser, Marita Greenidge, lightened the mood with a fun trivia game based on little known facts about current Bimventures projects.

Dr. Springer announced that these networking events will be held every two months to facilitate continued growth in the relationships amongst the Bimventures family.

Additional photographs available at:

1) http://docs.google.com/View?id=dgsbbfz_2383fjnzz7ss
Tricia Watson of West Coast Legal (right) is pictured with financial adviser Jeremy Stephen.

2) http://docs.google.com/View?id=dgsbbfz_2385hg56vchd
Bimventure artist Annalee Davis (right) chats with Omar Estrada, a visual artist, film maker and online entrepreneur at the recent Artsplash gathering.

3) http://docs.google.com/View?id=dgsbbfz_2387c9p9qzd2
Jamaican Mary Wells of CaribbeanTales WorldWide Distribution (left) networked with Corey Graham of Adrenalin Productions.

About Barbados Business Enterprise Corp.
Barbados Business Enterprise Corp. (BBEC) is a public/private sector partnership with the Caribbean Business Enterprise Trust (CBET) Inc. BBEC manages the Barbados Revolving Seed Capital Fund and the Barbados Entrepreneurs' Venture Capital Fund. BBEC is a virtual organisation that focuses on promoting economic development in Barbados. The trustees of BBEC are respected Barbadian business and development experts, Sir Neville Nicholls (Chairman), Sir Stephen Emtage, Peter Boos and Hazel Highland.

For further information, visit www.bimventures.com

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