To commemorate the 9th anniversary of ICT Pulse, we are sharing some observations we have made about the Caribbean tech space over the years.

 

On 13 January 2011, we published our very first article here on ICT Pulse. Nine years, and nearly 1,350 articles later, we are still at it, and hoping that in some small way, we have broadened and deepened the conversations across the Caribbean region on Information and Communications Technology (ICT).

One of the things we had observed, which was part of the impetus for launching ICT Pulse, was that we, here in the region, did not seem to recognise, nor acknowledge, the voice we had in the ICT/technology space. Historically, the Caribbean has been a very profitable centre for many international businesses, whose footprint extended into the region. However, as customers, we might grumble about the price and/or quality of a particular product or service, but we did not seem to recognise that we had the power to effect change.

To a considerable degree, that posture might have stemmed from ignorance: the fact that we think we are small and insignificant countries in the global marketplace that cannot shape the future of technology. However, that is not true. More importantly, one of the greatest privileges and rights that we have as individuals – which can be extended to our societies – is self-determination. However, to exercise that right prudently, we need knowledge: we need to understand the issues and the implications within our context, and herein lies our tagline, ‘Discussing ICT issues from a Caribbean perspective’.

In starting our ninth year of ‘Caribbean tech conversations’, here a few of the observations we have made about the Caribbean tech space over the years.

 

1.  The Caribbean is still a lucrative region

The Caribbean region is still a lucrative space for many tech businesses. Companies, such as Digicel and Flow, along with several third party outsourcing firms have been, and continue to maintain a presence, and are continuing to invest in the region.

 

2.  Savvy Caribbean consumers

The Caribbean consumer appears to be more savvy with respect to tech products and services. With respect to devices, many of the manufacturers have broadened the range of quality products available that are better suited for the spending power of consumers in developing countries. With regard to software, there are a multitude of free products and services, and many have business models geared at hooking customers and thereafter leveraging their large customer base with premium products, for advertising. Additionally, Caribbean consumers may also be more aware of tech products and services due to the wealth of information now available online, and more specifically through the active marketing that occurs, especially on social media, and through programmatic advertising.

 

3.  We don’t seemed more engaged on tech issues

Although the Caribbean consumers might be more tech savvy today than they had been in the past, they still do not appear to be as engaged in tech issues, as one might have hoped. We might have the latest gadgets, or aspire to own the latest and the best, if our budgets could afford, it is still some of the same voices from nearly a decade ago, who are involved in tech-related discussions across the region. Having said this, it is acknowledged that with so much more content vying for our attention. So unless a person has a particular interest in ICT, it is entirely possible that topical technology issues will not even get on his/her radar.

 

4.  We don’t seem as hung up on Silicon Valley

Back in the day, Silicon Valley was the model to which both Caribbean countries and tech entrepreneurs aspired. In the start-up space, in particular, people we versed in Silicon Valley experience of many of the big companies and big names, and they seemed to have expectations that they could have a similar experience by just having a good idea. Now, the hype in the Caribbean tech start-up space seemed to have died down considerably, and increasingly, people are keeping their heads down and buckling down to do the work.

 

5.  The tech ecosystem has definitely developed

Nine years ago, companies such as Rovika, WiPay, ingenuity Technologies, Edufocal, did not exist. Yes, access to finance is still a challenge, but it is considerably better than what it had been in the past. Angel investors and support from development banks are now an option. There are also more mentoring, accelerator and incubator programmes, which can be just as important as funding, in order to help founders and team develop the business acumen and the disciple needed for longer term viability.

 

6.  e-Commerce continues to hinder innovation

To a considerable degree, e-commerce via Caribbean-based businesses is still a challenge across the region. Although the situation has been improving over the past two to three years, thanks to options, such as WiPay, many countries across the region still have very few or no alternatives – outside of commercial banks. Depending on the size of the organisation, or the type of business, payment gateways, such as First Atlantic Commerce, which has a relationship with virtually all of the banks in the English-speaking Caribbean, and can also offer a modular one-stop e-commerce solution, suitable for micro, small and medium enterprises, could be explored. However, to date, we have not yet achieved critical mass with respect to e-commerce solutions, to allow its easily integrated – as matter of course – in Caribbean businesses.

 

 

Image credit:  cbaquiran  (Pixabay)

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