News

September 6, 2013

The Development Bank of Jamaica and the Inter-American Development Bank – Multi-lateral Investment Fund have had a long and successful relationship spanning many years.  It is a relationship that is characterized by shared vision – that of facilitating economic growth within the Jamaican economy.
 
Financing of business sector has traditionally been through credit.  In Jamaica’s current scenario most businesses are fully leveraged in their borrowing.  In its effort to continue spurring growth within the economy, the DBJ established the Jamaica Venture Capital Programme (JVCP) with a mandate to foster…

August 13, 2013

Milverton Reynolds, Managing Director, Development Bank Jamaica (DBJ), has confirmed that Josh Lerner, the Jacob Schiff Professor of Investment Banking at Harvard Business School, is to be the featured presenter at Jamaica’s first Venture Capital Conference.  The conference is scheduled for September 9th at the Jamaica Pegasus Hotel.
 
“As part of our mandate to facilitate economic growth within the Jamaican economy, the DBJ is always looking for new and innovative methods of spurring growth and improving access to finance for Jamaican companies.  The up coming conference is but one of the many strategies we have towards this…

July 25, 2013

Development Bank of Jamaica and Inter-American Development Bank sign Technical Assistance Agreement on Jamaica Venture Capital Programme.

The Development Bank of Jamaica (DBJ) and the Inter-American Development Bank of Jamaica (IDB) today signed an agreement under which the IDB will provide assistance in the amount of US$150,000 (J$14 million) through the 
Multilateral Investment Fund (MIF), for the development of the Jamaica Venture Capital Programme.

The DBJ will provide counterpart funding of US$128,000 (J$12 million).

The funds will be used to implement a three-pronged project aimed at developing an ecosystem…

July 15, 2013

Work is almost complete on a strategic plan to establish Jamaica’s Venture Capital Programme (VCP), being spearheaded by the Development Bank of Jamaica (DBJ).

Project Consultant at the DBJ, Audrey Richards, tellsJIS News that the task is being carried out by a Special Consultant, recruited for this undertaking, and include, among other things, a market analysis to determine stakeholders’ readiness for venture capital and private equity investments; and an assessment of the legal and regulatory framework for venture capital in Jamaica.

Mrs. Richards advises that work on the strategic plan, which commenced in January,…

March 11, 2013

The winner of the inaugural National Business Model Competition (NBMC) is a group of five young entrepreneurs and hails from the Northern Caribbean University.  Under the business name - Herboo Enterprises – the students have successfully commercialized an all-natural shampoo-conditioner made from a blend of local herbs and spices.   The team walked away with prize money of $2 million and an all expense paid trip to participate in the International Business Model Competition in Utah, USA.
 
The finals took place at the Jamaica Conference Centre, on Friday, March 7 and saw four teams pitching their business models to a panel of…