JIS News

Story Highlights

  • The Government’s youth entrepreneurship programme, Start-Up Jamaica (SUJ), has received a $5 million boost from the National Commercial Bank (NCB).
  • State Minister Hon. Julian Robinson and Group Managing Director at NCB, Patrick Hylton, signed a MoU for the provision of the funds.
  • To be undertaken over five years, SUJ will provide business support for young Jamaican innovators and entrepreneurs to grow their ideas into marketable products and services.

The Government’s youth entrepreneurship programme, Start-Up Jamaica (SUJ), has received a $5 million boost from the National Commercial Bank (NCB).

State Minister in the Ministry of Science, Technology, Mining and Energy, Hon. Julian Robinson and Group Managing Director at NCB, Patrick Hylton, signed a Memorandum of Understanding (MoU) for the provision of the funds during a ceremony Friday morning (June 27) at the Atrium in New Kingston.

To be undertaken over five years, SUJ will provide business support for young Jamaican innovators and entrepreneurs to grow their ideas into marketable products and services, thus contributing to economic growth, increasing employment and generating foreign exchange.

It is expected that over the five-year period, SUJ will attract a significant number of young Jamaicans who can be inspired to create their own start-ups.

“Our vision is to, within a year, see a number of Jamaican companies doing well globally. That is the shift we want to see, and that is the objective of Start-Up Jamaica,” said Mr. Robinson.

In expressing gratitude for the funding from NCB, he said that “it came without hesitation”, and “is an indication of the alignment of our strategy with theirs. The more the Jamaican economy grows, the more people will need financial services, and (NCB’s) commitment is to economic growth and development within the country”.

Mr. Robinson said that while the project is principally targeting Jamaicans, it will be opened up to entrepreneurs from across the Caribbean and the wider globe, so that more employment opportunities can be created for locals.

Mr. Hylton, in his remarks, said that NCB supports SUJ as an important initiative to boost employment.

“This vision of the Ministry… is one shared by us here at the National Commercial Bank. NCB understands the need to drive growth by providing innovation and entrepreneurship support, designing new methods and tools to help start-ups and galvanize would-be entrepreneurs,” Mr. Hylton said.