The Startup Ecosystem of Jamaica

The Jamaican government is supporting sustainable and robust growth of micro, small, and medium-sized enterprises (MSMEs) with non-reimbursable investment financing. Moreover, international organizations are active and highly influential in Jamaica’s startup ecosystem. For instance, Inter-American Development Bank helped promote the innovation and growth of the Jamaican ecosystem through the Boosting Innovation, Growth and Entrepreneurship Ecosystems (BIGEE) program. The initiative aimed to achieve sustainable and robust growth among startups and MSMEs. It offered funding for incubators, grants and loans for startups. The startup ecosystem also received funds from the European Union’s Caribbean Investment Facility (CIF). Funding is given to promote gender equality, climate change, and response to COVID-19 to drive business innovation and productivity.

The local market might not be the biggest but it has definitely nurtured a substantial company: Digicel, a mobile phone network provider operating in 33 markets across the Caribbean, Central America, and Oceania regions. As expected, the main startup hub is Kingston, the capital of Jamaica. It is one of the main technology and subcontracting centers in the Caribbean, and has in recent years become home to a number of initiatives to support startups and incubators.

To conclude, while Jamaica’s startup ecosystem is still growing, it is dynamic and has deep development potential.