$192 Million for Youth Employment in Digital Industry

The Government is to spend $192 million this fiscal year for youth employment in the digital and creative industries.

Funding for this initiative is to come from the International Bank for Reconstruction and Development (IBRD).

The funds have been set aside in the 2016/2017 Estimates of Expenditure, now before the House of Representatives.

Implemented by the Energy, Science and Technology Ministry, the employment initiative is expected to foster youth entrepreneurship and develop the animation industry in Jamaica.

As of December 2015, the initiative launched the KingstOOn Animation Festival, conducted a ‘boot camp’ for start-up companies and developed a curriculum for two and three dimensional animation for tertiary institutions.

This year, the Government expects to develop a strategic plan for the animation industry, finalise memoranda of understanding (MOUs) with potential start-up companies and commence work on the development of an Angel Investor Network and Royalty Based Loan Fund.