Ten small and medium-sized enterprises within the Global Services Sector were chosen for the Business Process Industry Association of Jamaica’s (BPIAJ) ‘Scale Up the Value Chain: Targeting SMEs in the GSS’ Project.
With support from a grant of US$440,000, the chosen companies: Innovate 10x, QualityWorks Consulting Group, Hacker Hostel, tTech, Shadrok Global Business Solutions, Caribbean HR Solutions, CCServices, Contax360, KnightFox App Design Limited, and MS Tech Solutions will be provided with support, customised road maps, technical assistance, mentorship, and the requisite help needed for them to become fully digitised and gain access to opportunities within the Global Value Chain.
The BPIAJ launched the SMEs Scale-Up Project in November 2019 – when companies were invited to participate in the competition. Support for the evaluation and judging companies to shortlist was provided by Compete Caribbean, Development Bank of Jamaica, Jamaica Promotions Corporation, and Spatial Innovision Limited.
The Scale Up Programme will run until April 2020.
Gloria Henry, president of BPIAJ, told the Business Observer at the announcement event held at the Inter-American Development Bank’s offices in Kingston:
“Our objective is to attract higher-value services and to help our SMES to become global partners. Many of them are not exporting, and we want to help them to start exporting their services and to bring more foreign exchange to Jamaica. Some of them are already looking at expanding in the US, but we want to help them grow their footprint in the sector to support the bigger ecosystem within the Jamaican market and within the Caribbean as well,”
“Jamaica is not consuming as much digital services as it should and we’re not digitising enough processes. A lot of what the customer-support services and other businesses outside of the GSS are using could be better enhanced, more productive, and return higher revenues if they were digitised. We’re hoping that there will be spin-os from these businesses into the wider economy of Jamaica,” she added.
Innovate 10x’s manager of market and commercialisation, Jason Scott revealed that the company’s ultimate goal is global domination in the information technology (IT) space and that this project will enable such aspirations.
“We understood that the competition would be an opportunity for us to scale across the region and internationally, and primarily into the North American and European markets. We’re looking forward to meeting the mentors and building out that road map and strategy plan to see how best it aligns with what [the company] wants to do, and how quickly we can implement and execute,” Scott told this publication.
Debra Fraser, chief executive officer of human resource outsourcing company Caribbean HR Solutions, also expressed her expectations of the project.
“We wanted help with becoming a global HR outsourcing player and accessing that market, as it is very hard to define. [This project] will help us be proactive and make sure that we have a good strategy to get there, which in turn will hopefully enable us to get private placement funding or public funding through the stock exchange,” she said.