them<\/em><\/strong> to develop their ideas.<\/p>\n\n\n\nFast forward to today, and the attitude seemed to have changed. Starting about three to five years ago, Caribbean techies appear to be more focussed on their current and local realities. The serious ones has put their heads down, and have sought either bootstrap their ventures, or at the very least, to develop a prototype, which they can then leverage to secure funding.<\/p>\n\n\n\n
<\/p>\n\n\n\n
Our own cultural confidence is growing<\/h3>\n\n\n\n
Over the years, there also seems to be a change in the solutions Caribbean techies are bringing to market. Five to 10 years ago, the majority of them would have been derivatives of a popular platforms or applications, such as in social networks or games, for example. As a result, their business models tended to be weak, and they really did not have unique selling propositions to underpin them.<\/p>\n\n\n\n
Today, and perhaps thanks to the spate of software application development competitions that have occurred throughout the years, a lot more of the ventures and ideas seem to be rooted in local\/real world problems or challenges that are being experienced, or are trying to leverage local attitudes and cultural behaviour. This shift in what is driving tech-related creativity suggests that we are appreciating the fact that our local experience has relevance, and correspondingly, we that fact that we are the ones that can serve our societies the best.<\/p>\n\n\n\n
<\/p>\n\n\n\n
The ecosystem is improving, but is still limited<\/h3>\n\n\n\n
Although there are signs that the Caribbean tech community has been evolving, it can be argued that the supporting ecosystem has not kept up \u2013 although it has improved from what it was. However, it is still a challenge for tech entrepreneurs, particularly those who operate primarily in the digital space, to secure funding.<\/p>\n\n\n\n
To a considerable degree, the investor community in the Caribbean is still too risk-averse. In more established ecosystems, investors know that not every investment will be a home-run, but one should be looking for the venture that will result in huge gains. That posture does not appear to be the case in the Caribbean, which in turn is hindering the development not only of the tech entrepreneurship ecosystem, but also of innovation in the region.<\/p>\n\n\n\n
<\/p>\n\n\n\n
Tech development may still be a gimmick to policymakers<\/h3>\n\n\n\n
From time to time, and over the past decade, there have been rallying cries from policymakers across the region that Caribbean countries should be focussing on technology and innovation to drive wealth creation for their citizens. Most countries have hosted or participated in app development competitions, and\/or have had one-off early stage accelerators programmes that provided advice and mentoring to tech start-ups. In many instances, the funding opportunities were limited. Hence although the participants might have benefited from those programmes, in fact, they did not get the support they needed to bring products to market.<\/p>\n\n\n\n
Ten years later, and although the calls to focus on technology have been getting louder, very few Caribbean countries, if any, have demonstrated any commitment to make that a reality. In policy-speak, there are no plans, strategies or roadmaps, to drive that change, which it could be argued is underpinned by a lack of political will at the highest level of government. <\/p>\n\n\n\n
<\/p>\n\n\n\n
But we are still thinking small<\/h3>\n\n\n\n
Finally, and although the barriers of self-contempt seem to be lowering across the region, and we appear to be growing in cultural confidence, there is a sense that we are still timid. We are focussing local challenges and opportunities, but we have yet adjusted our lenses to think more regionally, or even internationally.<\/p>\n\n\n\n
Due to the small markets of most Caribbean countries, there is a solid business case for us to not be insular in our thinking \u2013 to think regionally \u2013 and to develop products that can be used beyond our local communities. However, tying back to what Prime Minister Mottley was saying in our speech, and the Caribbean experience, the Caribbean outlook, has value. We thus need to continue to recognise our own value and self-worth, and be prepared to share that with the world.<\/p>\n\n\n\n
<\/p>\n\n\n\n
<\/p>\n\n\n\n
Image cedit: Free-Photos (Pixabay<\/a>)<\/em><\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":"
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