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Businesses get $3.2M for innovation

Published: 
Sunday, April 15, 2018
Planning Minister Camille Robinson-Regis, right, presents the receipt of letters award to Jessica Yawching during the Skills For Global Services Innovation awards ceremony at the Arthur Lok Jack Global School for Business in Mt Hope, yesterday. PICTURE ABRAHAM DIAZ

Six entrepreneurial minds will be awarded a total of $3.2 million—an average of $500,000 each—to undertake projects that will hopefully result in opportunities and economic prosperity for T&T.

In recognising their work during a ceremony at the Arthur Lok Jack Global School of Business, Planning Minister Camille Robinson-Regis said in keeping with the values of “limitless possibilities” under the aegis of the Global Skills Promotion Programme, businesses have the opportunity to look at innovative ways to increase exports and employment in the information technology-enabled services (ITeS) sector.

The six finalists—Animae Caribe Festival, Avasant T&T Consulting Limited, Coded Arts Limited, Fujitsu Caribbean (Trinidad) Limited, Lagoon Animation Studios Limited and Social Justice Foundation—were chosen from 26 submissions to the Global Services Promotion Programme, undertaken as part of the ministry’s partnership with the Inter-American Development Bank (IDB).

Robinson-Regis said the applicants have proven that T&T has the capacity for success among the biggest and best in the world .

She said according to the World Economic Forum’s most recent Global Information Technology Report, there is a lot more T&T can do to increase the contribution of its ICT sector to the national GDP, which in 2015 stood at $5.5 billion or 3.4 per cent of GDP.

“All government entities are now online with a range of services on a centralised portal supporting businesses, citizens and non-residents of Trinidad and Tobago.

“Technology is also placed high on the legislative agenda, with the proclamation, either in full or in part, of several key pieces of legislation providing significant facilitation of ICT transactions,” the minister said.

Robinson-Regis added that there are many other indicators of progress in the ICT sector, including progress from position 70 in 2015 to 67 on the 2016 Global Information Technology Report of the World Economic Forum.

“Internet household penetration has also improved from 58 per cent to 65 per cent from 2014 to 2015.

“Although these might be perceived as small victories, through events like these we are creating more. While generally we are still playing catch up to the more developed parts of the globe, I do not believe we are that far behind if we take a chance on our talent and skill,” Robinson-Regis said.

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