The Caribbean Investment Forum, a beacon for economic growth and innovation, concluded just last week with the Caribbean Export Development Agency committing to help create 400,000 jobs over the next ten years. This ambitious objective serves as a testament to the region’s dedication to driving economic growth and innovation. High-level participants from within the Region and out of the Caribbean, including those from institutions, all called for “A Bold New Caribbean” to create jobs and opportunities for Caribbean people.
During the Fireside Chat, between Dr. Brathwaite, Founding Managing Partner of Celesta Capital, and JoEllen Laryea, Manager of Communications, Partnerships, and Advocacy at Caribbean Export, Dr. Brathwaite provided valuable insights on unlocking innovation and investment in the Caribbean, playing a pivotal role in shaping this goal.
Dr. Brathwaite emphasized several key areas:
Collaborative Ecosystem: Dr. Brathwaite underscored the necessity of building a collaborative ecosystem in the Caribbean. Collaboration among governments, universities, corporations, and investors can create a supportive environment for startups and entrepreneurs.
Education and Talent Development: He highlighted the importance of investing in education and talent development, particularly in technology and entrepreneurship. Developing a skilled workforce is crucial for leveraging the opportunities presented by disruptive technologies.
Access to Capital: Dr. Brathwaite acknowledged that access to capital remains a challenge in the Caribbean. He encouraged the region to explore innovative funding mechanisms, including venture capital and angel investing, to support early-stage startups.
Building on Local Strengths: Dr. Brathwaite suggested leveraging local strengths and resources to drive innovation in the Caribbean. For example, the region’s proximity to the United States can be an advantage for tech startups looking to expand into North American markets.
Regulatory Environment: He stressed the need for a favorable regulatory environment that encourages innovation and entrepreneurship. Clear and supportive regulations can attract investment and foster business growth.
Caribbean Export’s commitment to creating 400,000 jobs aligns perfectly with the Caribbean Investment Forum 2023, emphasizing the multi-faceted approach required to unlock innovation and investment in the Caribbean. Collaboration, education, access to capital, leveraging local strengths, and a supportive regulatory framework all contribute to the region’s thriving innovation ecosystem.
This visionary goal sets a clear direction for the region, fostering a conducive environment for entrepreneurship, innovation, and job creation. Caribbean Export, with its unwavering commitment, is poised to be at the forefront of driving economic growth and transformation in the Caribbean.
To create 400,000 jobs in the next 10 years, Caribbean Export, together with its partners, will focus on key strategies that support the development of micro, small, and medium-sized enterprises (MSMEs) through financial assistance, training, and market access initiatives. Additionally, Caribbean Export will continue to promote investments in crucial sectors such as infrastructure, resilient agriculture and agribusiness, and the transition to green energy. Strategic collaboration with international partners and fostering regional trade will further boost export-oriented businesses and job creation. The projects featured in the Caribbean Investment Forum are at the core of this strategy, as these initiatives promote regional growth and development.
The Agency envisioned the Caribbean Investment Forum to serve as a catalyst for economic growth and innovation, bringing together entrepreneurs, investors, and industry experts to explore opportunities, showcase innovative ventures, and exchange ideas.
For more information, please visit the Caribbean Investment Forum’s official website at https://www.caribbeaninvestmentforum.com.