UTech, Jamaica Receives Sponsorship from DBJ and the Joan Duncan Trust for GEM Jamaica 2021 Research Project
Professor Colin Gyles (centre), Acting President, University of Technology, Jamaica accepts a cheque from Ms. Ms. Deborah Newland (3rd left), General Manager, Strategic Services, Development Bank of Jamaica, (DBJ) representing sponsorship of $5M in support of UTech, Jamaica’s production of the Global Entrepreneurship Monitor (GEM) 2021 Jamaica Report. The cheque was presented at a handing over ceremony held at the Technology Innovation Centre (TIC), UTech, Jamaica Papine Campus on Wednesday, March 16, 2022. Sharing in the occasion (from left) are Mrs. Andrea Bolton-Fyffe, Incubator Manager, TIC, Mrs. Renay Folkes-Johnson, Manager, Research, Business Analytics and Policy, DBJ, Dr. Andrea Sutherland, Dean, College of Business and Management (COBAM), Mrs. Terry-Ann Gaynor-Clarke, Lecturer, COBAM and GEM, Jamaica Team Lead and Mr Nigel Cooper, Head, Joan Duncan School of Entrepreneurship, Ethics and Leadership.
University of Technology, Jamaica on Wednesday, March 16, 2022 received $7.5 million in sponsorship from the Development Bank of Jamaica (DBJ) and the Joan Duncan Trust in support of research to be undertaken by UTech, Jamaica researchers for the production and publication of the Global Entrepreneurship Monitor (GEM) 2021 Jamaica Report. The contribution from the DBJ totalled $5M, while the Joan Duncan Trust provided sponsorship of $2.5 M. The sponsorship cheques were handed over at a special ceremony hosted by the University at the Technology Innovation Centre, Joan Duncan School of Entrepreneurship, Ethics and Leadership, Papine Campus.
UTech, Jamaica has been participating in the annual Global Entrepreneurship Monitor (GEM) research project for Jamaica since 2005, through researchers in its College of Business and Management. GEM hosts the world’s largest standing study of global entrepreneurial activity and highlights emerging trends in economies. The GEM research consortium has been measuring entrepreneurial activity across the world in a comparable way since 1998.
Welcoming the generous donations from the corporate partners, Professor Colin Gyles, Acting President, UTech, Jamaica remarked that “Both the DBJ and the JMMB Joan Duncan Foundation have been longstanding benefactors of UTech, Jamaica.” He noted that over the years both organizations have given significant financial support as well as their expertise to numerous mutually beneficial joint ventures between the organizations. “We welcome the opportunity today for the further strengthening of these long term partnerships for the good of Jamaica,” he stated.
Professor Gyles noted that since 2005, the annual GEM Jamaica country reports produced by UTech, Jamaica have been “a useful reference in efforts aimed at enhancing the level of entrepreneurial activity in our country,” adding that the “GEM Jamaica reports have also been beneficial to academics and to entrepreneurs themselves in providing them with sound knowledge on making investment decisions about their entrepreneurial ventures. The Acting President underscored UTech, Jamaica’s commitment to conducting “high-impact, inter-disciplinary and applied research, like the GEM Jamaica research project that focuses on an important area of economic life in our country,” adding that the undertaking is in alignment with the University’s Mission “To positively impact Jamaica and the wider Caribbean through high quality learning opportunities, research and value added solutions to government, industry and communities.”
Dr. Andrea Sutherland, Dean, College of Business and Management, in her remarks also expressed appreciation to the sponsors and reiterated the significance of research and having access to data-driven information for making informed decisions, particularly in the context of an ever rapidly changing global economy. The Dean also highlighted the College’s thrust to spearhead applied research that is impactful on the community in which we live.
Noting the profound value of the GEM Jamaica Report, Ms. Deborah Newland, General Manager, Strategic Services, DBJ in her remarks, spoke to the imperative for research in informing decision making and the “incredible advantages” of data in an increasingly complex, interconnected, fast paced world, adding that “the garnering and examination of information is one of the most critical components of our development as a people.” Applauding UTech, Jamaica for its work in producing the Global Entrepreneurship Monitor (GEM) Jamaica Report since 2005, Ms. Newland explained that “our multiplicity of partnerships with our local business development organisations, commercial banks and our international development partners will be enhanced exponentially with our new thrust to partner more closely with entities such as UTech, Jamaica to conduct applied research to allow for the application of the information generated to our social and developmental challenges in Jamaica.”
Mrs. Kim Mair, CEO, JMMB Joan Duncan Foundation, who represented the Joan Duncan Trust, stated that “The Joan Duncan Trust is proud to partner with University of Technology, Jamaica in supporting the execution of the 2021 Global Entrepreneurship Monitor (GEM) research project for Jamaica. In this way, we are fulfilling our commitment to support entrepreneurship, and the academic, economic and social framework that bolsters entrepreneurial pursuits locally, regionally and internationally. The Joan Duncan Trust understands that entrepreneurs are critical to the long-term health of our economy, as they assist in bringing innovation to market, expanding human welfare and building the communities in which they operate. It is our responsibility to form these partnerships, as links in the wider chain of society, and to play our part in supporting the recovery and growth of Jamaica, the region and the world.”
The ceremony was chaired by Mrs. Terry-Ann Gaynor-Clarke, Lecturer, College of Business and Management and GEM Jamaica 2021 Team Leader. She explained that of the 120 countries who are members, Jamaica is one of 50 economies that participated in the 2021 GEM survey. The survey component of the study was conducted in Jamaica over the past several months. Mrs. Gaynor-Clarke acknowledged the support of the team of researchers in the College of Business and Management who have been undertaking various aspects of the GEM, Jamaica research study: Dr. Andrea Sutherland, Dean, Dr. Gaunette Sinclair-Maragh, Associate Professor, Research and Graduate Studies, Mr Nigel Cooper, Head, Joan Duncan School of Entrepreneurship, Ethics and Leadership (JDSEEL), and Lecturers Mr Orville Brown, and Mrs. Erica Wynter- Donaldson.
Professor Colin Gyles (centre), Acting President, University of Technology, Jamaica accepts a cheque from Mrs. Kim Mair, CEO, JMMB Joan Duncan Foundation, representing sponsorship of $2.5M from the Joan Duncan Trust in support of UTech, Jamaica’s production of the Global Entrepreneurship Monitor (GEM) 2021 Jamaica Report. Sharing in the moment (from left) are Mr Nigel Cooper, Head, Joan Duncan School of Entrepreneurship, Ethics and Leadership, Mrs. Terry-Ann Gaynor-Clarke, Lecturer, COBAM and GEM, Jamaica Team Lead and Dr. Andrea Sutherland, Dean, College of Business and Management.
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Contact:
Michelle Beckford (Mrs.)
Corporate Communications Manager
University of Technology, Jamaica
Telephone: 876 970-5299
Email: mbeckford@utech.edu.jm