Melisa Ellis, founder and CEO of Nobellum, a social and technology enterprise dedicated to supporting black-owned businesses in STEM.
WOMEN entrepreneurs in science and technology now have new avenues to access early stage funding, as international angel networks set their sights on the Caribbean.
In recognising that traditional lending institutions often fail to respond to the speed and nature of digital innovation and are still ill-suited for early stage innovation, two international organisations, The Firehood and Nobellum, are focusing on closing the equity gap for female-led start-ups. With an emphasis on women in STEM (science, technology, engineering, and mathematics), both networks are directing under-represented founders to capital, mentorship, and high-level investor exposure. However, with these opportunities emerging, the question becomes how to secure an angel investor, and the answer lies in crafting a business story with a compelling narrative.
“You have to structure it in a way that articulates the viability, the scale, the product-market fit, and why you are the best person to build this company and make it successful,” said Danielle Graham, co-founder of The Firehood, during an investor panel titled ‘Inside the Mind of Funders’.
Drawing on her 12 years of experience in the start-up investment ecosystem in Canada, Graham noted that many women founders may have a solid pitch deck and go-to-market strategy but struggle to translate that into the kind of business story that resonates with angel investors. Angel investing, unlike venture capital, is highly personal. With their own funds on the line, angels can afford to be selective. At business conferences, Graham explained, angel investors may hear over 100 pitches but remember only one, adding that it’s not always the most polished presentation, but the one that clicks with them both mentally and emotionally. Angel investors typically make decisions in real time, often during one-on-one meetings at major start-up events. Graham described these moments as how angels vote for founders, based on a blend of logic, market understanding, and personal conviction.
“Why are they parting with their hard-earned cash to invest in you?” she asked. “So you really have to get them over the line.”
Another network, Nobellum, is also focused on women in STEM. The Toronto-based company is led by Melisa Ellis, who has laid out specific criteria for founders seeking funding. Nobellum supports both idea-stage and growth-stage ventures but expects clear signals of potential from both.
“We are looking for a founder that has experience in the industry that they are solving the problem in,” Ellis told the Jamaica Observer.
At the idea stage, Nobellum will consider businesses with zero revenue if their intellectual property is valued at over US$3 million. At the growth stage, companies must be generating over US$100,000 in annual revenue and include a female co-founder with a significant equity stake. Additional considerations include the team’s capabilities, product-market fit, and coachability. Nobellum is currently working with the Development Bank of Jamaica (DBJ) to identify candidates for a second Canadian trade mission later this year. The plan is to select five to 10 women founders, from both idea and growth stages, to be introduced to Canadian investors.
“We’re working with the DBJ to do another round of delegates to a conference in Canada,” Ellis told the Sunday Finance.
While acknowledging the structural challenges that make it difficult for early stage start-ups — particularly those under 36 months old — to access traditional financing, DBJ CEO David Lowe says the bank is now collaborating with commercial banks and approved financial institutions (AFIs) to identify entrepreneurs who were previously denied funding but can demonstrate the capacity to scale. The Development Bank of Jamaica (DBJ) plans to support these entrepreneurs through a mix of grants, training programmes, and capital solutions tailored specifically for early stage ventures.
“We want to be able to say to the banks, ‘Bring those candidates to us, and let’s manage that journey,’ ” Lowe said.
He added that part of this process includes building internal capacity around corporate governance and credit readiness, which he notes are key areas where many start-ups fall short.
The Firehood will host a demo day in Jamaica on June 14 at Jamaica Pegasus hotel in Kingston, bringing Canadian investors to meet local founders and explore the region’s start-up potential. The event is part of efforts to attract early stage investment to the Caribbean and will mark the close of the Caribbean Entrepreneurship & Innovation Exchange (CEI) Jamaica programme. Led by Nobellum, in partnership with Jamaica Technology & Digital Alliance (JTDA) and the Development Bank of Jamaica (DBJ), the event will feature pitches from seven selected female founders and include networking opportunities. For women entrepreneurs in tech, Graham encourages founders to connect with angel investor communities but cautions that success requires more than just a good idea. Start-ups must be able to clearly articulate why their solution matters, how it can scale, and why they are best-suited to lead it. Above all, she emphasises the importance of persistence, noting that “founders need to keep going to opportunities”.
David Lowe, CEO, Development Bank of Jamaica, and Danielle Graham, co-founder of The Firehood.
From left: Panellists Melisa Ellis, founder and CEO of Nobellum; Danielle Graham, co-founder of The Firehood; David Lowe, CEO, DBJ; and Rezworth Burchenson, CEO of VM Investments, discussing ‘inside the Mind of Funders’ at the launch of the Caribbean Exchange Initiative (CEI) Jamaica at the VM Group.
