Minister of Science, Energy and Technology, Hon. Fayval Williams, says greater partnerships are needed between government and the private sector in research and development as the nation actualises the Science, Technology and Innovation (ST&I) Policy.
“Funding support from the Government, while important, will never be enough to achieve the impact required to create a new Jamaica. The private sector must partner with government to provide elevated financing for research and development of policies like the Science, Technology and Innovation Policy,” Mrs. Williams emphasised.
The Minister was speaking at a recent Jamaica Information Service (JIS) virtual ‘Think Tank’ in Kingston.
“As a small developing state, I know that a major handicap is that of funding to bring ideas into fruition and to nurture them into commercialisation. This Government is committed to supporting research and development activities, but requires the contribution of the private sector to fully do so,” Mrs. Williams said.
She highlighted that under the pending Science, Technology and Innovation Policy, the support provided by the State will not be exclusively for research and development institutions but will be made available through competitive appraisals of all ideas deemed worthy by a selected panel of experts.
“We need to make research and development more attractive as a means of growing our gross domestic product (GDP) and it will take a collaborative approach to do so,” the Minister said.