The Jamaican government’s marketing arm for business investments, Jampro, plans to woo foreign technology firms by year end to partner with local participants in its Technology Innovation District accelerator project, referred to as TID.
It is part of plans to grow the size of the technology sector through new partnerships with firms from the United States.
The TID was launched in March this year with some 16 local firms. Jampro wants two consultant brokers to match the executives at foreign firms with the local TID companies. The marketing agency is targeting firms from Canada and specific parts of the US, including New York, Connecticut, New Jersey, Washington, DC, Texas and Florida.
“The objective of this consultancy is to engage two in-market tech brokers [SC1] who will support the TID accelerator project by establishing new and sustainable relationships with buyers in the targeted regions of North America’s Tech sector and coordinating business matching meetings,” stated Jampro in documentation soliciting the consultants.
The outcome includes a minimum of 10 business-to-business meetings with key buyers for each firm in the TID; and to grow the exports of technology services. Jampro wants the consultants to “provide market intelligence, buyer profiles and business matches which will sustainably address the creation of opportunities for Jamaican tech entrepreneurs”.
There was no immediate response from Jampro and TID representatives to requests for comment.
The accelerator project is part of the broader ‘Skills Development for Global Services’ programme, funded by a US$15-million loan from the Inter-American Development Bank. The overarching goal is to transform the country’s outsourcing, or global services, sector by diversifying from traditional business process outsourcing to more specialised knowledge process outsourcing.
The Government sees global services as integral to raising the earnings from the outsourcing sector to a targeted US$1 billion annually by 2025.
Jampro wants the brokers to identify potential partnerships for Jamaican tech firms, specialising in niches like mobile and web app development, cybersecurity, digital services management, and software development.
“These brokers will be required to identify, assess, select and present qualified leads for 16 technology firms from Jamaica [SC2] within the qualified niches of the tech sector,” said Jampro.
The in-market brokers will be pivotal in facilitating introductions to executives and directors in North America, fostering collaborations, and possibly mentorships, with the Jamaican tech community.
The selected consultants will undertake various tasks, ranging from understanding the Jamaican tech landscape and profiling potential North American buyers to hosting matchmaking sessions. By the end of this engagement, Jampro expects to have a richer understanding of market needs, allowing it to sharpen its export strategies, the filing indicated.