PSOJ, UWI launch innovation committeeMonday, May 29, 2017
The Private Sector Organisation of Jamaica (PSOJ) and t he University of the West Indies (UWI) have signed a memorandum of understanding (MOU) to collaborate on research to drive innovation.The MOU, signed on May 17, establishes an innovation committee consisting of members of the PSOJ and UWI initially, who may later on invite other institutions to participate. The committee will “support research activities and apply their outputs to the needs of the private sector”.
UWI Vice Chancellor Sir Hilary Beckles, who signed on behalf of the university, noted the importance of innovation to the development of the Jamaican economy and said: “The UWI has the ability to do the research required by the private sector to drive innovation.”
“We all have our sleeves rolled up to drive Jamaica out of recession and achieve '5 in 4' – economic growth of five per cent by 2020. We are focused on fostering a culture of emigration of UWI research into the region to rebuild competitiveness and development of new product streams,” Sir Hilary continued.
For his part, CEO of the PSOJ Dennis Chung remarked that the only way towards growth is increased competitiveness.
“Jamaica has been floundering for a while and the only way the economy will improve is if we become competitive,” he said.
The signing took place at PSOJ headquarters on Hope Road in St Andrew.
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