$100m for young tourism innovators — Bartlett
ST JAMES, Jamaica — Tourism Minister Edmund Bartlett announced a $100 million facility at the Exim Bank for young innovators who have passed through the Tourism Innovation Incubator managed by the Tourism Enhancement Fund.
“We have put $100 million in the Exim Bank for the new ideas which are converted into material things that add value and that the private sector is free to embrace,” Bartlett stated.
“We are saying to the young people when you have come with your ideas to the incubator and we take you through the boot camp and your ideas have been proven that they have value,then we will provide you with initial funding to convert those fully into material things,” he added.
Speaking at the TechBeach Weekend Retreat at Iberostar Thursday night, Bartlett stated that ideas and innovation are the future determinants of continuing economic growth and development in the post pandemic era, indicating that tourism is the driver of global economic recovery and new ideas are needed to define the new experiences to enhance tourism and travel.
He indicated that the creation of the first tourism innovation incubator is critical to providing an ecosystem for new ideas and the conversion of those ideas into exciting new products in the industry.
Some $40 million was provided in the last budget to create the incubator in which 13 new inductees have created innovations.