JBDC to Launch Cosmeceutical Incubator Next Year

Come next year, the Jamaica Business Development Corporation (JBDC) will launch a cosmeceutical incubator to cater to the rapidly growing market for body and spa products, essential oils, and other wellness-related goods.

The facility’s establishment will be supported by the Jamaica Social Investment Fund (JSIF) and the World Bank.

Acting Chief Executive Officer of the JBDC, Harold Davis, made the disclosure in a recent JIS News interview.

The new incubator is part of the JBDC’s initiatives to bolster entrepreneurial support to better serve the needs of the micro, small and medium-size enterprise (MSME) sector.

“These initiatives will not only help businesses innovate and grow, but also strengthen Jamaica’s economy and create a ripple effect of resilience across communities,” Mr. Davis said

They involve expanding the use of the four existing business incubators, deepening partnerships, and scaling training programmes.

The business incubators, located at the agency’s Incubator Resource Centre on Marcus Garvey Drive in Kingston, serve as short-term production facilities for MSMEs in craft, fashion, essential oils and agro-processing.

Increased focus will also be placed on encouraging entities to leverage the existing incubators to grow and succeed.

The recent renovation of the agro-processing incubator has resulted in $32.3 million in agro-processed products being facilitated since the start of the current fiscal year, surpassing the $22 million recorded last year.

“These numbers are more than just statistics. They represent a significant transformative impact of innovation on our entrepreneurial ecosystem,” Mr. Davis said.

He told JIS News that the JBDC is on track to achieve Food Safety System (FSSC) Certification for the agro-processing incubator, positioning it as the first facility of its kind in Jamaica and the Caribbean.

“This is a big deal because, by using the services of this incubator, micro and small businesses will have an opportunity to have a visa almost to enter into the European market with that FSSC-certified facility,” he noted.

Regarding the craft incubator, Mr. Davis said the facility reflects a renewed focus on the craft industry.

“Craft is one of those hidden gems of Jamaica. It’s one of those creative industries that has the potential to be huge for us, with its distinct competitive advantage innate to us, our people and our experiences,” he pointed out.

The JBDC, in collaboration with its parent ministry, the Ministry of Industry, Investment and Commerce, is playing a pivotal role in implementing Jamaica’s Craft Policy, to bolster this burgeoning sector.

Mr. Davis said the JBDC has also recognised the growing demand for its services across the island, with entrepreneurs from rural areas like Westmoreland seeking access to incubators centralised in Kingston.

As such, plans are underway to expand support to meet this need, ensuring that entrepreneurs nationwide can benefit from JBDC’s transformative initiatives.

These initiatives will be bolstered by the launch of a state-of-the-art online learning platform in 2025, designed to provide entrepreneurs with seamless access to training and resources anytime, anywhere, keeping pace with global advancements in digital education.

In addition, the JBDC’s €1.7 million European Union (EU)-supported Digital Jamaica programme is on track to upskill 2,700 entrepreneurs by 2026.

The initiative will support MSME digital transformation to foster the sector’s innovation, growth and resilience.