April - June 2012

36 Pages·2012·3.22 MB·English

Volume 8 #2
Quarterly Magazine of the Barbados Investment & Development Corporation April - June 2012 ISSN 2077-3382
Explore to Grow
Manufacturing
Barbados’ Entrepreneurial
Culture ideas
Aero Farm
Barbados
Also inside:
PG. 8 PG. 10 PG. 12
CleverGrocer EGO Scholar World O Words
Solution

EXPLORE
TO GROW
The Barbados Investment & Development Corporation being given opportunities to purchase new imported products
(BIDC) is preparing to launch a major product that are being offered in many instances at cheaper prices and
commercialization initiative. a wider range. It is anticipated that through the ETG, new and
emerging sectors with potential for import substitution and
Explore to Grow (ETG) is a new programme which has been set export will be developed in addition to a range of new products
up by the BIDC to facilitate the development of new products with linkages to Barbadian heritage and culture.
and processes. It is the vehicle through which the Corporation
will drive its new research and development thrust. The initiatives and activities under Explore to Grow will be
implemented through a Review and Action Committee. It will
The programme sets up a formal process for capturing and also see a synergy of efforts across Divisions of the BIDC and
filtering new product ideas for development. The Corporation, business support agencies. It is expected that this would yield
whilst providing the avenue through which a rich pool of ideas greater and sustainable results which will yield new products for
can be vetted and developed, will pursue this initiative in exports, increased earnings of
collaboration with its clients and stakeholders. Collaborate to foreign exchange, more efficient
innovate is the underlying theme of the programme and this deployment of resources in
synergy of effort should prove very effective in introducing a terms of people and money and
range of new or enhanced products for local and international more competitive and viable
markets. local enterprises which are
better positioned for commercial
The BIDC’s Manager of Research and Information Services, Ms. success.
Fern Lewis, said there are several reasons why a new product
development strategy and mechanism is essential at this time. The Explore to Grow initiative
According to her, “The current economic crisis, coupled with is also intended as a support
fierce competition at home and abroad has made it increasingly mechanism for the Corporation’s
difficult for local businesses to survive on just their core products Innovation programme.
and services. With limited resources available to dedicate to
research and development, translating ideas into viable products
can be particularly challenging. One of the BIDC’s strategic Fern Lewis
goals in the year ahead is to increase the capacity of local Explore to Grow (ETG) is a new
businesses to be creative and innovative and through the ETG
programme which has been set up by
our clients will be in a better position to visualize and pursue new
opportunities.” the BIDC to facilitate the development
of new products and processes.
Lewis also took note of continued intensification of competition
for the domestic market as local consumers are increasingly
Barbados Business Catalyst • April - June 2012 3
Contents
April - June 2012
Volume 8 #2
Explore To Grow 3
Editor’s Desk - Trade Shows, Expos & Conferences 5
Barbados’ Entrepreneurial Culture 6 - 7
Put CleverGrocer On Your List 8 - 9
EGOScholar 10 - 11
World o words 12
The Waste Game 13
Aeroponics 14 -15
Crown-ing Moment 16
Unlocking Entrepreneurship: Towards Innovative Solutions 17
BMEX 2012 18 - 19
Pushing Innovation 20
Technoscope 21
Barbados Must Use Innovation 22
Don’t Work for Yourself 23
Eye Daze 24
Inspiring Innovation 25
Why Innovate 26
Less Talk More Action 27
Barbados Economic Review 28
BBC Notebook 30
EcoScope 31
When In...The USA 32
PG. 16
TradeScope 33
Manufacts 34 - 35
Aiming For Excellence
The BARBADOS BUSINESS CATALYST
is published quarterly by the Research, Information
and Design Services Division of the Barbados
Investment & Development Corporation.
It offers information and advice on trade and
commercial issues to the business community.
Information contained herein may be reproduced
if accredited to the BIDC. Items of interest to
local manufacturers, exporters, entrepreneurs and
potential investors are welcome.
Editor: PG. 23 PG. 25
Jane Brome, Email: [email protected]
Don’t Work For Yourself Inspiring Innovation
Editorial Team:
Fern Lewis, Email: [email protected]
Pedro Hutchinson, Email: [email protected]
Sylvia Taitt, Email: [email protected]
Design & Layout:
G&A Communications Inc.
Cnr. Harts Gaps & Hastings Main Road,
Christ Church.
Tel: [phone]; Fax: [phone];
E-mail: [email protected]
Disclaimer:
Some of the views expressed in this publication are the views of the writers and not necessarily
those of the BIDC. © 2012 BIDC.
Printed By: PG. 18 PG. 17
COT Caribbean Graphics, #16 Newton Industrial Estate, Christ Church.
Tel [phone] • Fax [phone] • Email: [email protected] BMEX 2012 Foromic XV
4 Barbados Business Catalyst •April - June 2012
Editor’s Desk
By Jane L. Brome
Moving towards a sustainable Executive Coach Cheryl Gittens meanwhile elaborates on some
future requires a new common mistakes made by entrepreneurs and how to avoid
strategic approach driven by them.
entrepreneurial and innovation-led
initiatives. We’re also introducing in this edition, new columnist, Ashish
Uttamchandani whose expertise in ICT should keep you
We’ve sought in this edition to bring this topic to the fore under entertained and informed about the technologies that can assist
the thematic concept of Manufacturing Ideas. in working smarter.
We’ve tracked finalists in this year’s National Innovation We hope you enjoy this issue and share with you these words of
Competition, celebrating their stories of success and putting the great minds in hope of inspiring and helping you to achieve your
spotlight on these up-and-coming entrepreneurs seeking to take goals and live your dreams.
advantage of emerging business opportunities. From software
development to educational games and applications of renewable
energy for the aeroponic growth of food crops, they all aspire to
shape the future of Barbados. “Take up one idea. Make that one idea your life - think of it,
dream of it, live on that idea. Let the brain, muscles, nerves,
And since the future belongs to the young among us, in this every part of your body, be full of that idea, and just leave
edition, we also share the views of youth entrepreneurship every other idea alone. This is the way to success that is way
development expert, Dr. Marcia Brandon, on improving the great giants are produced.”
enabling environment for young entrepreneurs and building an
entrepreneurial culture here. Swami Vivekananda
Trade Shows, Expos and Conferences
COPYRIGHT LAW THE ESSENTIALS, JULY 19-21 AND 25-26, 2012 HOME EXPO 2012, SEPTEMBER 20 - 24, 2012
Hosted by the UWI Faculty of Law this seminar will be of interest to artistes Living Smart is the theme of this year’s popular Home Expo. Patrons to the expo will
business owners, event promoters, Attorneys-t-Law and others. Presenter be treated to an exhibition to trigger ideas on how to truly live smart, from energy
Prof Eddy Ventose will be referring to both international and Caribbean issues saving to green living to maximising knowledge for the next home project. This
and materials in a lecture/discussion format. It will be held at the Moot Court, year’s expo will be open for four days to accommodate the widest cross-section of
Faculty of Law, Cave Hill. buyers, seekers and browsers at the Lloyd Erskine Sandiford Centre.
Contact: 246 417 4215 or 246 417 4227 Contact: http://www.homexpobarbados.com/
ANIMEKON 2012, AUGUST 25-26, 2012 FOROMIC XV – INTER-AMERICAN FORUM ON MICROENTERPRISE,
As Barbados’ first and only pop culture convention, AnimeKon continues to set OCTOBER 1-3, 2012
the standard for events of this nature within the Caribbean. Now in its third Foromic serves as a platform of dissemination and dialogue with partner stakeholder
year of operation, AnimeKon has proven itself to be more than just a one off on an annual basis and its objective is to contribute to the dissemination of
success. AnimeKon has captured the attention and imagination of fans of all knowledge and best practices in the area of microenterprise development in Latin
ages, not only in Barbados but also in Trinidad & Tobago, Portugal, the USA, America and the Caribbean. It is set to attract up to 1,300 delegates.
the UK, India, Malaysia and Canada. The 2012 exp will be held at the Lloyd Contact: http://events.iadb.org/calendar/event
Erskine Sandiford Centre
Contact: http://animekonexpo.com
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Entrepreneurial Development
Barbados’

Entrepreneurial
Culture
By Dr. Marcia Brandon
What is the entrepreneurial culture of Barbados? generation to
generation (Guiso
This is a question that we have consistently asked et al 2006). An
ourselves as youth entrepreneurship experts here at the entrepreneurial
Barbados Youth Business Trust (BYBT) over the past 16 years. culture is based on the premise that shared belief systems, similar
From our ongoing research we know that the entrepreneurial ways of earning a living and common educational arrangements
culture in Barbados is presently transitioning. Sixteen years ago can be combined to create ways of life which embrace
when we started the BYBT, entrepreneurship and entrepreneurs entrepreneurship. An entrepreneurial culture can influence time
were words used almost exclusively by BYBT. Now, not only preference, work-leisure trade-offs and risk-taking attitudes.
have the words become popular among the general public, but Cultures which have values based on high levels of leisure, wage-
promoting entrepreneurship as a catalyst for job creation, wealth based rather than project-based work hours, fear of failure, low
generation, poverty reduction and other social, economic and levels of creativity which lead to innovation, an education system
political solutions have become part of everyone’s agenda. which values theory above practicality and creative thinking, will
not become entrepreneurial very fast. Those that do place high
It has taken a significant amount of effort, partnership building, value on these factors are likely to create more entrepreneurs, as
lobbying, educating, training, sensitization, promotion entrepreneurship is multifaceted, cross-sectoral and complex. It
and outreach on the part of the network of business and requires long term, consistent efforts.
entrepreneurship development organizations in Barbados to
bring about this change in behaviour and attitude towards Culture takes a long time to change. It may take another decade
entrepreneurship. However, we still have a way to go. Barbados or two of the same type of sustained efforts and changes that
and the rest of the Caribbean, countries with histories of people we have seen over the past 16 years, among national, cultural,
working for others (government or other employers), are political and economic institutions for a full entrepreneurial
seeing a change. Young people are naturally looking to work for culture to be created in Barbados and indeed the Caribbean.
themselves now in preference to looking for a job. In a 2011 It is quite easy to start a business in Barbados, in terms of
survey by BYBT among 100 unemployed youth (50 males, 50 registration. However, the taxes and other statutory regulations
females, within the 18-25 year age group) over 90% of the males can be prohibitive for a young entrepreneur. That is why
said they wanted to start their own businesses and over 80% of BYBT is so fundamental in this landscape, because we have
females agreed. Over 75% of them had at least one business idea strong, established partners who help us to help these young
and had thought as far as where to go to get help to start the entrepreneurs to incorporate companies, create contracts and
business. partnerships, do Intellectual Property (IP) at very reduced costs
or for free. We continue to lobby Government to waive these
Culture is defined as customary beliefs and values that ethnic, costs for young start-ups. In this global economic climate where
religious and social groups transmit fairly unchanged from businesses are closing, jobs have become less, migration is not
6 Barbados Business Catalyst •April - June 2012
Entrepreneurial Development
Barbados and the rest of the Caribbean, countries with histories of people working for
others (government or other employers), are seeing a change. Young people are naturally
looking to work for themselves now in preference to looking for a job.
so much an option, governments are downsizing, everyone has PARTNERING FOR ENTREPRENEURIAL SUCCESS
to be looking for ways to create their own jobs. Improving the Some of BYBT’s strengths lie in building strong, durable
enabling environment, especially for youth to become decently partnerships, promoting the work of the Trust and the
employed through entrepreneurial means, is critical. successes of the young entrepreneurs as well as inculcating a
culture of gratitude and productivity among our nation’s youth.
HOW DOES THIS IMPACT ON BYBT’s WORK? Contributing to the development of the wider Caribbean is also
The lack of a strong entrepreneurial culture in Barbados one of our achievements. We have helped eight countries to
presented an excellent opportunity for BYBT 16 years ago start youth business trusts and will continue to do so over the
to influence, create and bring about change. BYBT is now a years to come.
pioneer, an innovator, a best practice in Barbados, the Caribbean
and globally. Being the first in this non-traditional sector and The task of changing mindsets in order to change cultures
being able to show impact and sustainability has strongly is a national mandate. Until our people understand fully and
positioned BYBT as a highly specialised organization. Therefore completely what is it like to be employers instead of employees,
it is not just the young people who want to start businesses or then our culture will remain the same. One of BYBT’s mandates
those who have businesses who need BYBT’s expertise; it is the is to help as many young people as possible to become
governments, the NGO sector, the private sector, the regional innovative, entrepreneurial employers, even if they do not
sector, the international development agencies, the universities, remain as such over the long term. This type of experience and
international NGOs, CBOs, among others. This demand has exposure will help a young person to better understand their
increased significantly over the past five years, as countries role and responsibilities when they enter a firm to become a part
grapple with finding jobs for youth, increasing the capacity of of its team.
NGOs and building partnerships.
According to “The Entrepreneurship Barometer” (carried out
STEPS BYBT HAS TAKEN TO PROMOTE A MORE for the G20 summit in Nise, in October, 2011), at the end of
ENTREPRENEURIAL CULTURE the survey conducted on more than 1,000 entrepreneurs, it was
BYBT has utilised some very non-traditional approaches concluded that:
to help in promoting an entrepreneurial culture. We view Ability to innovate is perceived as a key factor in the approach
entrepreneurship as both an art and a science and have been to improve the entrepreneurial culture in the G20 countries;
training young people to balance these variables. Some additional There is more tolerance and understanding from economies
strategies we have been utilising are bringing international with a strong entrepreneurial culture towards failure in
entrepreneurs and resource persons of Barbados to help to business and they don’t regard it as an entry barrier, but as an
exposure young people to different cultures and ways of doing opportunity to learn;
things. We have been waging a war on failure. Demystifying These countries make an effort to promote successful
failure and using it as a learning tool is our goal. Failure is neither entrepreneurial stories in universities and in the media;
a shame nor a death sentence. It shortens the learning curve and Entrepreneurs consider that the most effective way of
contributes to problem solving. promoting entrepreneurship is by emphasizing its role of
creating jobs.
Other strategies include building and maintaining a strong
business mentorship programme, one which helps to transfer Barbados is therefore on the right track. Our task, which we
knowledge from the entrepreneurial elders to the young cannot afford to refuse, is not easy but neither is it impossible.
entrepreneurs; ongoing building of the Trust team’s capacity to We need to continue to work together to change our mindsets
ensure the efficient operations of the organization and shaping and behaviours to make entrepreneurship natural.
highly skilled, competent professionals who can deliver the
services the young entrepreneurs require. Dr. Marcia Brandon is a youth entrepreneurship development expert.
BYBT has established a strong, nurturing youth entrepreneurship She works with donor organizations to design, monitor and evaluate
eco-system for young people to start businesses and flourish. development projects/programmes. She is the Co-founder and
There are several young entrepreneurs in Barbados who serve as Regional Director of the Caribbean Centre of Excellence for Youth
role models and peer mentors for young people to emulate and Entrepreneurship.
learn from.
Barbados Business Catalyst • April - June 2012 7
E-Shopping
Put CleverGrocer
On Your List
We’ve tracked finalists in this year’s National Innovation Competition,
celebrating their stories of success and putting the spotlight on these up-
and-coming entrepreneurs seeking to take advantage of emerging business
opportunities. From software development to educational games and applications of
renewable energy for the aeroponic growth of food crops, they all aspire to shape the
future of Barbados. Here is the Barbados Business Catalyst’s interview with Shannon
Clarke, developer of the CleverGrocer:
Shannon Clarke
Briefly describe Why did you choose to pursue the
your project? entrepreneurial path?
CleverGrocer is an interactive I have been particularly interested in
website and mobile application which practically applying my knowledge in software
aims to help consumers save money when development towards the creation of a service
purchasing their desired items from grocery that will challenge other world-class software
stores. It transforms the traditional task of writing applications while also maintaining a focus on providing
a shopping list on a notepad into creating a dynamic, social and financial benefits to the local and regional
interactive shopping list which can be tailored according to your community. It became apparent to me that the best method
preferences. for achieving this goal is to create a sustainable product and
service run as a business rather than a non-profit. This vision has
What inspired your idea? guided me through the formulation of the business model for
CleverGrocer and its future growth.
I was originally inspired by the pricing lists published by the
Ministry of Commerce & Trade in our local newspapers. Those What is the target market/market potential for your
lists gave consumers the opportunity to review the different product(s)?
prices of items in the basket of goods. However, I realized that
its analytical format was not very intuitive or easy to use by CleverGrocer will market its services to retailers locally,
consumers. CleverGrocer was created to provide consumers regionally and eventually internationally. The growth of the
with such information so that they can quickly and easily make usage of mobile technology and social media has become an
decisions regarding where they will purchase the desired items. area of concern for retailers around the world because global
Furthermore, I wished to encourage consumers to maximize consumer behaviour is showing an increasing trend to make
their spending power, hence consumers using CleverGrocer will purchasing decisions based on what information is available
receive recommendations to match their shopping preferences. about desired products. This has further complicated retailers’
8 Barbados Business Catalyst •April - June 2012
E-Shopping
woes regarding changing consumer behaviour since their
Unlike other shopping software which only
methods of promoting their products and services can no longer
solely depend on their physical location. Retailers now need to allow for the discovery of prices for individual
split their marketing efforts across the various advertising media items, CleverGrocer provides consumers
despite there being no clear method for analyzing the impact of
with purchasing recommendations based on
that advertising. CleverGrocer will provide affordable advertising
services and methods to directly engage their customers through all of the items they have included on their
mobile advertisements, online consumer engagement platforms shopping list.
and an e-commerce platform.
What’s the one thing that differentiates your innovation?
What can we look forward to from your venture?
Unlike other shopping software which only allow for the
discovery of prices for individual items, CleverGrocer provides CleverGrocer will remain committed to enhancing the shopping
consumers with purchasing recommendations based on all of the experience for all stakeholders. In order to achieve this, it will
items they have included on their shopping list. This provides a continually improve its product and services in order to better
simpler and more convenient experience for consumers who serve its customers. The CleverGrocer website and mobile apps
only need to create their shopping lists on the website/mobile will become available in August 2012.
application in order to receive various helpful recommendations.
Barbados Business Catalyst • April - June 2012 9
E-Learning
The
EGOScholar
Solution
Kevin Lovell & Jason Cadogan
K
evin Lovell and Jason Cadogan are revolutionizing education with the EGOScholar Media Services
system. The system seeks to supplement the traditional teaching and learning methods in a multimedia
format of music, dance, digital and traditional art, social networking, games, film, television, interactive
2D and 3D animations and other creative channels.Both in their early 30s, Lovell and Cadogan have designed
EGOScholar Media Services to teach traditional subject matter with an emphasis on how those subjects impact
life and the real world.
Marketed under a Know, Show And Grow tagline, Lovell built in the 1800s and it is a one-size–fits-all model of education,
explained these key elements on which the system has been which focuses on a read/write learning style and treats the pure
built: and applied sciences as superior subjects compared to the arts.
The fundamental problem is - how can society employ such a
Know: Self-discovery leads to self-efficacy in learning. Our system when the process of learning in each person is so diverse
system instills confidence by changing students’ perception of and unique?
academic concepts and using life to explain these concepts.
“Our solution was to design an e-learning application and other
Show: Once a student has started the process of self-discovery, technologies that allow students to express themselves via
they are then ready to share that discovery with others in their the creative arts in every discipline so as to learn and explain
sphere of influence, and the world. academic concepts, thereby recreating a renaissance/scientific
revolution age in our time.”
Grow: As students learn about themselves and share those
discoveries with others, their horizons will expand, thereby Lovell, an SAT scholar, and Cadogan, a Barbados Scholar, both
increasing the desire to learn more about one-self, creating a parents and teachers, suggested that the current school system
sustainable cycle of self-discovery, self-efficacy and personal is biased to accommodate one set of thinking and learning. And
improvement. Lovell insists, “We’re using this current school system to the
detriment of our society. Through innovation, EGOScholar can
He added, “The aim of EGOScholar is to uplift and allow for self- create an opportunity to go where no one has gone before.
actualization and we want to instill the belief in children that I am, Innovation is the capacity to create something out of seemingly
I can and I will”. nothing.”
As Cadogan explained, “Education is one of the key pillars of Cadogan went further, noting, “As much as we look at persons
society. However, the current public education system was like Leonardo Da Vinci, Raphael, Galileo and Newton of the
10 Barbados Business Catalyst •April - June 2012