Joan Duncan Trust Joins DBJ to Support UTech, Jamaica-led GEM Jamaica 2021 Research Project 

The Joan Duncan Trust joined with the Development Bank of Jamaica (DBJ) to give J$7.5M in support of research to be undertaken by to the University of Technology, Jamaica (UTech), Jamaica researchers for the production and publication of the Global Entrepreneurship Monitor (GEM) 2021 Jamaica Report. 

The sponsorship cheques from the Trust and DBJ, valued at J$2.5M and J$5M respectively, were handed over at a special ceremony, on March 16, hosted by the University at the Technology Innovation Centre, Joan Duncan School of Entrepreneurship, Ethics and Leadership (JDSEEL), Papine Campus.

Welcoming the generous donations from the corporate partners, Professor Colin Gyles, acting president, UTech, Jamaica remarked, “Both the DBJ and the JMMB Joan Duncan Foundation have been longstanding benefactors of UTech, Jamaica.” He noted that over the years both organizations have given significant financial support as well as their expertise to numerous mutually beneficial joint ventures between the organizations.  “We welcome the opportunity today for the further strengthening of these long term partnerships for the good of Jamaica,” he stated.

Professor Gyles noted that since 2005, the annual GEM Jamaica country reports produced by UTech, Jamaica have been “a useful reference in efforts aimed at enhancing the level of entrepreneurial activity in our country,” adding that the “GEM Jamaica reports have also been beneficial to academics and to entrepreneurs themselves in providing them with sound knowledge on making investment decisions about their entrepreneurial ventures. The acting president underscored UTech, Jamaica’s commitment to conducting “high-impact, inter-disciplinary and applied research, like the GEM Jamaica research project that focuses on an important area of economic life in our country,” adding that the undertaking is in alignment with the University’s Mission “To positively impact Jamaica and the wider Caribbean through high quality learning opportunities, research and value added solutions to government, industry and communities.”

Dr. Andrea Sutherland, dean, College of Business and Management, in her remarks also expressed appreciation to the sponsors and reiterated the significance of research and having access to data-driven information for making informed decisions, particularly in the context of an ever rapidly changing global economy.  The dean also highlighted the College’s thrust to spearhead applied research that is impactful on the community in which we live.

Kim Mair, CEO, JMMB Joan Duncan Foundation, who represented the Joan Duncan Trust, stated that “The Joan Duncan Trust is proud to partner with University of Technology, Jamaica in supporting the execution of the 2021 Global Entrepreneurship Monitor (GEM) research project for Jamaica. In this way, we are fulfilling our commitment to support entrepreneurship, and the academic, economic and social framework that bolsters entrepreneurial pursuits locally, regionally and internationally. The Joan Duncan Trust understands that entrepreneurs are critical to the long-term health of our economy, as they assist in bringing innovation to market, expanding human welfare and building the communities in which they operate. It is our responsibility to form these partnerships, as links in the wider chain of society, and to play our part in supporting the recovery and growth of Jamaica, the region and the world.”

GEM hosts the world’s largest standing study of global entrepreneurial activity and highlights emerging trends in economies. The GEM research consortium has been measuring entrepreneurial activity across the world in a comparable way since 1998.

Terry-Ann Gaynor-Clarke, lecturer, College of Business and Management and GEM Jamaica 2021 team leader explained that of the 120 countries who are members, Jamaica is one of 50 economies that participated in the 2021 GEM survey.  The survey component of the study was conducted in Jamaica over the past several months.  Mrs. Gaynor-Clarke also acknowledged the support of the team of researchers in the College of Business and Management who have been undertaking various aspects of the GEM, Jamaica research study.