OCTA Innovation Newsletter #12-2018

OCTA Innovation Newsletter #12-2018

Green transport, green business, green OCTs. Bikes, electrical bikes and electrical cars are way to go in the OCTs. Introduction of electric vehicles helps to reduce CO2-emissions and the dependence on petroleum. Implementing green transport in OCTs, could help at the same time to be economically better and to stay uncontaminated. Countries that rely on low air pollutant emitting fuel mixes may gain a lot in terms of avoided external costs. The benefits extend in protection of environment and enhancement of economy especially in green business and tourism.

Read the newsletter.

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Business Incubation, Green Enterprises – Workshop in the Cayman Islands

Business Incubation, Green Enterprises – Workshop in the Cayman Islands

The Overseas Countries and Territories Association (OCTA) is hosting a Business Incubation and Innovation workshop in the Government Administration Building, on Friday, 30th June 2017, from 8 a.m. to 5 p.m. in conference room 2112.

Business incubators are companies that help new and startup companies to develop by providing services such as management training or office space. As such, they are catalyst tools for regional or national economic development.

The free workshop is suitable for representatives of government agencies, independent science and technology centres, small start-ups, higher learning institutions and non-governmental/non-profit agencies. It will consist of presentations and interactive workshop activities for those with some knowledge of business, technical and academic education and innovation and export promotion.

Places will be offered on a first-come-first-serve basis and registration will take place on the day.

The workshop will focus on explaining the systems for developing new and strong business opportunities in territories like the Cayman Islands. It will also suggest how to develop business capacity using incubators and incubator-type models.

The areas that the training and presentations will cover will include:

▪ planning and creating an innovation centred incubator,

▪ selecting the right incubator partners,

▪ How to determine a financing strategy for your incubator,

▪ selecting the right enterprises for the incubator, and

▪ avoiding incubation pitfalls, and

▪ the triple bottom line and the importance of ecoinnovation.

For further information on the workshop, email International Affairs Analyst in the Cabinet Office and Innovation Manager for the Cayman Islands, Jamaal Anderson at Jamaal.Anderson@gov.ky.

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Business Incubation and Innovation: a Nexus for Small Island Countries

Business Incubation and Innovation: a Nexus for Small Island Countries

This week, on 30th of June, Mr. Alan Cooper, OCTA Innovation short-term expert, is giving a workshop on Business Incubation and green enterprise innovation in the Cayman Islands.

Purpose of Workshop

The purpose of this workshop is to help government and private sector agencies involved in develop a country-specific roadmap for creating business incubators which are relevant to their territory and needs. Simultaneously, such incubators will aim specifically to inculcate green innovative (or “eco-innovative”) thinking into their clients from the get-go. This workshop has been condensed from a two-day format to a one-day activity divided into two parts: one dealing with business incubation and the other dealing with the greening of enterprises.

Background

The Cayman Islands like many other island countries have very high import ratios and have a small range of sectors which interface directly with the wider community as booming economic sectors, namely tourism and financial services. The need for diversification is constant and pressing. There is an urgent need for entrepreneurship among these islands as in other OCTs. Islands are particularly vulnerable to climate change and global warming and this is the case with these islands. In the case of these islands, besides the fact that most businesses are “traditional” with regard to their use of electricity, water and other resources, a substantial part of less skilled activities relate to fishing (fish, lobsters, shrimp and the like). These can have serious negative impacts upon the natural environment over time. Therefore, there is need for environmentally sustainable business and businesses which are carbon neutral.

Green enterprises are those based upon 3 pillars: (1) decent work and respect for people, (2) respect for the planet and (3) aiming to make a profit. They are businesses with strive to be carbon neutral through resource efficiency. Green business activities and environmental sustainable methods of managing business are still considered innovative; they are as yet not the mainstream.

This training aims at addressing the two challenges: the need for fostering business development and the need for inculcating green practices in those businesses.

Aims

By the end of the workshop participants should:

  • A clear idea of how to conceptualise and create a business incubator.
  • Be able to identify potential partner organisations for creating successful business incubators (accelerators or hatcheries).
  • Know how to use contemporary tools for introducing innovation in enterprises.
  • Identify key partner organisations for fostering greening of the businesses in incubators.
  • Be able to do a simple conceptual greening of enterprises and value chains.

The course is free to attend and will be held at the Government Administration Building, Room 2112 from 8:30 AM – 5:00 PM.

Please register on the following link.

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