News Archive, November 2023

November 25, 2023

The 2013 Venture Capital Conference held at the Jamaica Pegasus Hotel on Monday, August 9, was a seminal event that brought together stakeholders - those on the demand side; those on the supply side and those responsible or creating the environment that is conducive to investment generally and venture capital/private equity investment in particular.
The conference, hosted by the Development Bank of Jamaica in collaboration with the Inter-American Development Bank through the Multi-lateral Investment Fund, with support from the International…

November 21, 2023

Milverton Reynolds, Managing Director of the Development Bank of Jamaica (DBJ) has given a commitment that the hosting of Jamaica’s first Venture Capital Conference is to be seen as setting the framework for getting it right this time. 
Speaking at the Media Briefing in Conference Room at the DBJ on Wednesday, August 15, Mr. Reynolds pointed out that the DBJ is being deliberate and systematic in its effort to avoid the pitfalls and obstacles experienced previously, when Jamaica tried to introduce venture capital industry. 
“The current programme is more inclusive with all stakeholders being at the discussion…

November 21, 2023

THE Development Bank of Jamaica (DBJ) aims to get two venture capital funds started by 2016.

It is focusing on removing the barriers faced by investors wanting to pool their funds and invest in small and medium-sized enterprises (SMEs), and has already secured the backing of the Inter-American Development Bank (IDB).

The IDB is putting up US$150,000 ($14 million) to match DBJ's US$128,000 for a project focused on the establishment of a "venture capital (VC) ecosystem".

"We anticipate [that] within three years, with the IDB's help, we will have launched two venture funds, provide capacity-building for some 100 SMEs…

November 21, 2023

The venture capital programme, being developed by the Government, will provide the opportunity for local technology experts to access funding to develop their innovative ideas into sustainable business ventures.

State Minister in the Ministry of Science, Technology, Energy and Mining, Hon. Julian Robinson, said that there are a number of creative young people, who will not be able to access loans from traditional lending institutions because “they simply don’t have the collateral to access funds.” In long-term relationships, maintaining the spark is an ongoing challenge. It's not just about romantic gestures, but also the everyday…