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Five Firms Sign on to JAMPRO’s Technology Accelerator Project



Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill (standing, second left) looks on as Operations Manager, Port Computer Services Limited, Kay Wilson Kelly, (seated, second left), signs the Memorandum of Understanding (MOU) signifying her company’s participation in the inaugural Technology Innovation District (TID) Accelerator Project, during a press launch held on Tuesday (March 14) at the corporate offices of Jamaica Promotions Corporation (JAMPRO) in Kingston. Also observing the proceedings are (from left, seated) Programme Director, Global Services Sector Project (GSSP), Jamaica Promotions Corporation (JAMPRO), Marjorie Straw; President, JAMPRO, Shullette Cox; Vice President, Marketing, JAMPRO, Gabriel Herron; (and standing from left) Chief of Operations, Inter- American Development Bank (IDB), Lorenzo Escondeur; TID Accelerator Zone Manager, Tastey Blackman; and VP, Sales and Promotions, JAMPRO, Norman Naar.

Five technology firms have signed on to the Jamaica Promotions Corporation (JAMPRO) accelerator project, which aims to build the capacity of local entities to access business opportunities in overseas markets and grow their revenue.

These are Bluedot Insights, MC Systems, Smart Mobile Solutions, ResolveIT Service Centre, and Port Computer Services Limited.

A total of 20 participants are targeted for the first cohort of the Technology Innovation District (TID) Accelerator Project, which is targeting entities in niche sectors such as software development, digital services management, cybersecurity, and mobile and web app development.

It is being undertaken under component two of the Global Services Sector Project (GSSP) and is geared towards enabling Jamaica to advance further along the global digital services value chain, support the growth of businesses, and achieve sustainable economic growth for the country through the export of digital services.

Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, in his remarks at the launch held at JAMPRO’s corporate offices in Kingston on Tuesday (March 14), said the programme seeks to establish Jamaica as the global services destination of choice.

“The launch of the TID Accelerator Project will help Jamaica diversify and strengthen our export of services at a higher level in the value chain…The country has made significant progress with BPO (business process outsourcing) and global digital services. It will continue to be a factor that we must (improve upon),” he noted.

President of JAMPRO, Shullette Cox, said the key objective of the project is to strengthen the institutional capacity of select global digital services firms to attract investments and increase exports.

“The technology accelerator project seeks to establish an ecosystem to support the development of tech companies that are scalable, ready for acceleration, so that they may be able to successfully deliver exportable digital services,” she noted.

She said that the project is a critical pillar under the GSSP, which is aimed at promoting growth in the sector, particularly in higher-value segments.

TID Accelerator Zone Manager, Tastey Blackman, in her remarks, said the initiative will enable participating firms to scale their operations and gain access to international markets.

“The vision of the TID is really to help our local tech firms achieve their corporate goals and to grow their businesses and to expand into exports of services. Our mission is really to provide the enabling capacity to build the firms, close gaps and get [them] ready to take on the bigger, wider, international markets,” she explained.

Under the project, which is free of cost to tech firms, participants will receive customised coaching, mentoring, training, and exposure to international markets through business missions, particularly to North America, which is a key market targeted under the initiative.

These international entities would have already been evaluated to determine their level of interest in doing business with and outsourcing tech work to Jamaican companies.

The TID Accelerator Project is being executed by JAMPRO under a five-year loan from the Inter-American Development Bank (IDB) as part of strategic interventions to promote growth of the GSSP.

Participating firms will undergo a needs assessment to determine gaps, and from that assessment, a business profile will be developed along with capacity-building activities to address these issues.

The programme will be delivered via a virtual platform.

Entities must be registered in Jamaica, tax compliant, have been in operation for at least three years, and have a minimum of five employees in the organisation.

For registration and other information, persons can visit JAMPRO’s website at

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Businessuite News24 International

Nvidia Is Turning Into A Casino For The YOLO Trading Crowd



Nvidia is turning into a casino for the YOLO trading crowd, with some traders on Monday placing bets the the world’s third-largest company could double in value this week. While the trade is insignificant next to wagers on single-digit moves in the stock and there’s pretty much no chance Nvidia will close remotely close to the level of those options, it does bring back memories of 2021’s meme-stock mania.

Traders could in theory sell the contracts for profit if Nvidia rallies this week, but the early signs aren’t too promising. The stock is flat in pre-market trading after Chief Executive Officer Jensen Huang’s highly anticipated speech in California Monday — in which he unveiled new Blackwell chips aimed at extending his company’s dominance of artificial intelligence — proved more of a boon for the shares of the company’s customers and partners than Nvidia itself.

Source Bloomberg

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Exploring the Path to Enhanced Transportation Efficiency in Jamaica



Jamaica stands at a critical juncture in transforming its transportation sector to achieve both economic resilience and sustainable development. Reflecting on the broader goals within the realms of energy efficiency and sustainability, it becomes imperative to examine the factors influencing Jamaica’s transportation efficiency. As an island nation with a high dependency on imported fossil fuels, Jamaica faces unique challenges that directly impact its transportation sector’s efficiency and sustainability.

External Economic Vulnerabilities

Being economically vulnerable to external factors, such as fluctuations in global energy prices, significantly influences Jamaica’s transportation sector. This vulnerability stems from an over-reliance on imported oil, making the cost of transportation susceptible to global oil market dynamics. Such dependencies not only increase the operational costs of transportation but also hinder efforts towards achieving efficiency and sustainability.

The volatility of oil prices directly impacts the operating costs for both public and private transportation modes, translating into higher fares for commuters and increased expenses for goods transportation. This scenario underscores the urgent need for Jamaica to diversify its energy sources and reduce dependency on imported oil.

Integrating renewable energy sources into the transportation sector could serve as a viable mitigative strategy. Utilizing Jamaica’s abundant renewable resources, such as solar and wind, could significantly reduce the dependency on fossil fuels, thereby insulating the transportation sector from external economic shocks and contributing to enhanced efficiency.

However, transitioning to renewable energy-powered transportation systems involves overcoming a range of structural, economic, and technical challenges. Investments in infrastructure, public awareness, and regulatory frameworks are essential to facilitate this transition.

Societal Consumption Patterns

Jamaica’s high consumption society profoundly impacts transportation efficiency. Choices in vehicular purchases, for instance, are seldom made with energy efficiency in mind. This inclination towards high-consumption models contributes to greater fuel use and increased greenhouse gas emissions, further straining the push towards transportation efficiency.

Addressing societal consumption patterns requires a shift in public perception and behavior towards transportation. Encouraging the adoption of energy-efficient vehicles through incentives and awareness campaigns could play a significant role in this regard. Additionally, promoting public transportation and non-motorized transport modes as viable and efficient alternatives could also help reduce the transportation sector’s overall energy footprint.

Furthermore, enhancing public awareness about the interconnectedness of lifestyle choices, energy consumption, and environmental impact is crucial. Education and outreach initiatives that highlight the benefits of energy-efficient transportation choices could foster a societal shift towards sustainability.

The Government of Jamaica’s role in championing energy efficiency via policy interventions, such as the National Energy Policy and the Vision 2030 Jamaica Plan, plays a pivotal role in steering society towards more sustainable consumption patterns. Regulatory instruments, alongside targets and incentives for energy efficiency, can provide a balanced mix of push and pull factors to drive efficiency improvements across the transportation sector.

Infrastructure and Technology

Infrastructure and technology advancements are pivotal for enhancing Jamaica’s transportation efficiency. The existing transportation infrastructure often does not support optimal energy use or facilitate the deployment of modern, energy-efficient technologies.

Investing in infrastructure modernization and maintenance can significantly reduce energy consumption in the transportation sector. Improvements in road quality, for example, can decrease fuel consumption by reducing vehicle wear and tear and travel times.

Adopting advanced transportation technologies such as electric vehicles (EVs) and implementing smart traffic management systems can also contribute to efficiency. However, such technological transitions require supportive infrastructure, including EV charging stations and integrated traffic management systems.

In conclusion, a multi-faceted approach encompassing policy interventions, societal shifts, and infrastructure and technological upgrades is essential for improving transportation efficiency in Jamaica. Addressing these key factors will not only contribute to reducing Jamaica’s carbon footprint but also pave the way towards a more resilient and sustainable transportation sector.

  • Economic vulnerabilities due to reliance on imported oil significantly impact transportation costs and efficiency.
  • Societal consumption patterns and preferences towards high-consumption vehicles impede efforts towards transportation efficiency.
  • Investments in infrastructure and technology are crucial for enabling the adoption of energy-efficient transportation solutions.
  • Government policy and regulatory frameworks play a pivotal role in driving the transition towards more efficient and sustainable transportation systems.

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Businessuite Top Caribbean Entrepreneurial Success Stories



The Caribbean, known for its idyllic beaches and vibrant cultures, is also a breeding ground for some of the world’s most innovative entrepreneurs. From fintech visionaries to ecommerce pioneers, these individuals have taken their diverse backgrounds and turned them into global success stories.

Let’s dive into the tales of ambition, resilience, and success that characterize the entrepreneurial spirit of the Caribbean.

Martin Hanna – Penny Pinch Inc.
Martin Hanna is a testament to the fintech revolution brewing in the Caribbean. As the CEO and Founder of Penny Pinch Inc., Hanna has redefined what it means to provide value through technology. His company caters to a growing demand for digital financial solutions, demonstrating the vast potential of fintech outside traditional tech hubs. Hanna’s success story is not just about innovation; it’s about understanding and meeting the unique needs of his market.

In a region where access to financial services can be limited, Penny Pinch Inc. stands as a beacon of hope. By focusing on user-friendly products, Hanna has ensured that technology serves as a tool for empowerment. His approach blends local insights with global trends, making Penny Pinch a standout example of how fintech can bridge gaps in the financial landscape.

Hanna’s journey is notable for its focus on sustainable growth and community impact. He believes in leveraging technology to create a more inclusive economy, a vision that has earned him respect and admiration both within and beyond the Caribbean. As Penny Pinch continues to expand, Hanna’s leadership reflects a commitment to innovation that serves all.


Nicholas A. Rees – Kanoo Pays
Nicholas A. Rees, a former Olympian turned FinTech visionary, stands at the helm of Kanoo Pays. His remarkable transition from sports to business captures the essence of adaptability and determination. As the Chairman and Co-founder, Rees has steered Kanoo Pays to become a pioneering licensed Payment Institution in the Caribbean.

Under his guidance, Kanoo Pays serves as a platform for financial inclusion, connecting individuals and businesses across the region. Rees’s approach combines a deep understanding of finance with a passion for technology, making banking more accessible and empowering for Caribbean communities.

Rees’s background as a Chartered Certified Accountant, coupled with his MBA from the University of Miami, provides a solid foundation for his entrepreneurial ventures. His vision for Kanoo Pays includes not just financial success but also a significant impact on society, highlighting the role of businesses in driving social change.

His story is a reminder that entrepreneurship can emerge from any backdrop. Rees leverages his diverse experiences to build a company that not only profits but profoundly impacts lives. Kanoo Pays exemplifies how innovative business models can transform the financial landscape in the Caribbean and beyond.


Elevating Ecommerce: Kadion Preston and Caribshopper
Kadion Preston, co-founder and CEO of Caribshopper, has carved a niche in the booming ecommerce sector. Through Caribshopper, Preston facilitates global sales for Caribbean merchants, enabling them to reach audiences far beyond their geographical confines. This venture not only showcases the rich diversity of Caribbean products but also boosts local economies by opening new markets.

Preston’s tech background, combined with a keen business acumen, has allowed him to navigate the complex challenges of ecommerce. His platform stands as a testament to the power of digital transformation to foster economic growth and regional integration.

With Caribshopper, Preston has built a bridge connecting Caribbean creativity and craftsmanship with the world. His work has not only elevated the profiles of local artisans and businesses but also inspired a new generation of entrepreneurs in the region to look beyond traditional markets.

Preston’s entrepreneurial journey is a masterclass in harnessing technology for social and economic development. By leveraging ecommerce, he has created opportunities for growth and innovation that transcend geographical limitations, making him a pivotal figure in the Caribbean’s entrepreneurial landscape.

The stories of Martin Hanna, Nicholas A. Rees, and Kadion Preston highlight just a sliver of the entrepreneurial talent flourishing in the Caribbean. These individuals exemplify the region’s capacity for innovation, resilience, and global impact. Their ventures have not only transformed their respective industries but also offered valuable lessons:

Adaptability and resilience are key to overcoming challenges. Innovation should be driven by a desire to meet the specific needs of one’s community. Entrepreneurship can be a powerful tool for economic and social empowerment. Global success is achievable, regardless of one’s geographical starting point. As the Caribbean continues to make its mark on the global stage, these entrepreneurs serve as beacons of hope and inspiration, showing that with vision, hard work, and a commitment to impact, anything is possible.

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Development Bank of Jamaica Re-Opens Innovation Grant Application Window



The Development Bank of Jamaica (DBJ), through its Boosting Innovation Growth and Entrepreneurship Ecosystems (BIGEE), is pleased to announce that the Application Window for its Innovation Grant Fund (IGF) is now open, effective January 2, 2024. The Application Window will remain open for six (6) weeks, until February 13, 2024.

The Innovation Grant Fund (IGF) is an opportunity for medium-sized Jamaican companies with new and innovative products and service to access grant funding in the amount of Twenty million Jamaican Dollars (J$20 million).

Christopher Brown, Programme Manager, BIGEE states; “The DBJ is delighted at the projects we have funded in the last three iteration, since we began in 2020. To date we have awarded grants to twelve (12) medium-sized Jamaican companies representing an investment by the Bank of J$190 million. The majority of the projects have been successfully completed and the remaining are now in the Close Out phase; all of which has recorded growth and on an upward trajectory.”

Lu’ Shana Cheddesingh, Technical Coordinator under whose portfolio the Innovation Grant Fund falls explains “For this the fourth cohort of the IGF, we will be utilising the funding received from the European Union (EU) and so strong focus of the incoming cohort will be placed on two main areas – Women-led and/owned businesses, and Climate Mitigation projects. We will continue to fund projects from Jamaica’s productive sectors”. Continuing Ms. Cheddesingh stressed that, “Application process is via our website at“

The DBJ is encouraging medium-sized Jamaican companies with innovative products and or services that are new and revolutionary to apply.

BIGEE – Boosting Innovation Growth & Entrepreneurship Ecosystem – is the Government of Jamaica (GOJ) five-year project valued at US$25 million and financed by the Inter-American Development Bank (IDB). The Development Bank of Jamaica (DBJ) is the Executing Agency. The Agreement was executed between the GOJ and the IDB late 2019; however, there were unforeseen delays in the launch due to the onset of the coronavirus pandemic.

The objective of BIGEE is to promote sustainable and robust growth among start-ups and Micro, Small and Medium Enterprises (MSMEs) in Jamaica. In 2021 based on the performance of the programme, the European Union (EU) awarded a non-reimbursable grant of US$8.2 million to support the initiative.

The DBJ, a wholly owned institution of the GOJ has assumed a catalytic role for initiatives that have significantly impacted MSME development over the years; this makes the institution a good fit to successfully implement the GOJ’s and IDB’s vision for the programme.

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Businessuite News24 International

Sam Altman returns as CEO, OpenAI has a new initial board



Mira Murati as CTO, Greg Brockman returns as President. Read messages from CEO Sam Altman and board chair Bret Taylor.

Message from Sam to the company

I am returning to OpenAI as CEO. Mira will return to her role as CTO. The new initial board will consist of Bret Taylor (Chair), Larry Summers, and Adam D’Angelo.

I have never been more excited about the future. I am extremely grateful for everyone’s hard work in an unclear and unprecedented situation, and I believe our resilience and spirit set us apart in the industry. I feel so, so good about our probability of success for achieving our mission.

Before getting to what comes next, I’d like to share some thanks.

I love and respect Ilya, I think he’s a guiding light of the field and a gem of a human being. I harbor zero ill will towards him. While Ilya will no longer serve on the board, we hope to continue our working relationship and are discussing how he can continue his work at OpenAI.

I am grateful to Adam, Tasha, and Helen for working with us to come to this solution that best serves the mission. I’m excited to continue to work with Adam and am sincerely thankful to Helen and Tasha for investing a huge amount of effort in this process.

Thank you also to Emmett who had a key and constructive role in helping us reach this outcome. Emmett’s dedication to AI safety and balancing stakeholders’ interests was clear.

Mira did an amazing job throughout all of this, serving the mission, the team, and the company selflessly throughout. She is an incredible leader and OpenAI would not be OpenAI without her. Thank you.

Greg and I are partners in running this company. We have never quite figured out how to communicate that on the org chart, but we will. In the meantime, I just wanted to make it clear. Thank you for everything you have done since the very beginning, and for how you handled things from the moment this started and over the last week.

The leadership team–Mira, Brad, Jason, Che, Hannah, Diane, Anna, Bob, Srinivas, Matt, Lilian, Miles, Jan, Wojciech, John, Jonathan, Pat, and many more–is clearly ready to run the company without me. They say one way to evaluate a CEO is how you pick and train your potential successors; on that metric I am doing far better than I realized. It’s clear to me that the company is in great hands, and I hope this is abundantly clear to everyone. Thank you all.

Jakub, Szymon, and Aleksander are exceptional talents and I’m so happy they have rejoined to move us and our research forward. Thank you.

To all of you, our team: I am sure books are going to be written about this time period, and I hope the first thing they say is how amazing the entire team has been. Now that we’re through all of this, we didn’t lose a single employee. You stood firm for each other, this company, and our mission. One of the most important things for the team that builds AGI safely is the ability to handle stressful and uncertain situations, and maintain good judgment throughout. Top marks. Thank you all.

Satya, Kevin, Amy, and Brad have been incredible partners throughout this, with exactly the right priorities all the way through. They’ve had our backs and were ready to welcome all of us if we couldn’t achieve our primary goal. We clearly made the right choice to partner with Microsoft and I’m excited that our new board will include them as a non-voting observer. Thank you.

To our partners and users, thank you for sticking with us. We really felt the outpouring of support and love, and it helped all of us get through this. The fact that we did not lose a single customer will drive us to work even harder for you, and we are all excited to get back to work.

Will Hurd, Brian Chesky, Bret Taylor and Larry Summers put their lives on hold and did an incredible amount to support the mission. I don’t know how they did it so well, but they really did. Thank you.

Ollie also put his life on hold this entire time to just do everything he could to help out, in addition to providing his usual unconditional love and support. Thank you and I love you.

So what’s next?

We have three immediate priorities.

Advancing our research plan and further investing in our full-stack safety efforts, which have always been critical to our work. Our research roadmap is clear; this was a wonderfully focusing time. I share the excitement you all feel; we will turn this crisis into an opportunity! I’ll work with Mira on this.

Continuing to improve and deploy our products and serve our customers. It’s important that people get to experience the benefits and promise of AI, and have the opportunity to shape it. We continue to believe that great products are the best way to do this. I’ll work with Brad, Jason and Anna to ensure our unwavering commitment to users, customers, partners and governments around the world is clear.

Bret, Larry, and Adam will be working very hard on the extremely important task of building out a board of diverse perspectives, improving our governance structure and overseeing an independent review of recent events. I look forward to working closely with them on these crucial steps so everyone can be confident in the stability of OpenAI.

I am so looking forward to finishing the job of building beneficial AGI with you all—best team in the world, best mission in the world.




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