PLANS are underway for telecoms company LIME to back a technology incubator that will focus on application and software development as the telecommunications giant is currently engaging other private firms to contribute to the retrofitting of an office space in Kingston.

“The technology incubator will be a place where software and app developers, hackers and innovators in general would spend time inventing new ways of doing things in the area of Information & Communication Technology (ICT) along with other areas like agri-business and finance, while at the same time learning the rudiments of marketing, accounting and selling their products,” said Garfield Sinclair, LIME Jamaica CEO.

LIME will be providing ICT support for the office space that will be established as the technology incubator, while the Private Sector Organization of Jamaica (PSOJ) and Jamaica National Building Society (JNBS) have also expressed interest in joining forces.

It’s not clear the exact launch date of the incubator, but LIME said there is full comittment for the project, it’s just a matter of working out the logistics.

“The thrust is to launch it as soon as possible,” said LIME.

Describing technology as a “strategic differentiator” that will allow companies to effectively compete both locally and globally, Sinclair would also like to see the creation of ‘angel investor’ networks that would pool investor capital specifically for the tech start-ups.

Small, developing nations like Jamaica are ideal for the establishment of business clusters and incubators for young, fledgling tech innovators who could then provide breakthrough technology for large firms seeking a competitive advantage. The LIME boss commended international agencies like the World Bank for providing assistance in this regard.

Sinclair reiterated his commitment while addressing the opening ceremony of the LIME-sponsored Expo 2014 at the National Arena in Kingston, recently, following his initial disclosure about setting up the tech incubator while speaking as a member of the panel of business leaders discussing the topic, ‘Let the Hackers Expand Your Business’, at Digital Jam 3.0 ‘Get Up, Start Up’ Conference held at the UWI Regional Headquarters in Kingston last month.

The ‘Caribbean Edition’ of the Conference was organised by the World Bank and sponsored by LIME under the Theme, ‘The Future is Digital’. It included Apps competitions and awareness workshops designed to promote Caribbean youth employment and entrepreneurship via opportunities in the virtual economy.