2012 Business Lab to Focus on Cultural Industry

Young entrepreneurs with a desire to develop their own business ideas in the cultural industry will for the next few days be engaged in a Cultural Enterprise Business Lab.

The business lab organized by the Dominica Youth Business Trust-(DYBT) in collaboration with Israel’s Agency for International Development Cooperation (MASHAV) and the United Nations Development Program (UNDP) through its Youth-IN Entrepreneurship program will introduce participants to sustainable means of preserving diversity while providing guidance and support to generate viable and creative ideas for the cultural industry.

Youth Minister Hon. Justina Charles during an opening ceremony on Monday at the Garraway Hotel welcomed the new training program saying that it will bring major benefits for the island’s young people.

“I am happy that upon completion of this week’s business lab that young people will be eligible to participate in the Caribbean Innovation Challenge- a regional competition that promotes innovation, entrepreneur initiatives and provides follow up resources for young business people in the Caribbean. Let me congratulate the young people who were selected to undergo the training for this year’s lab and urge you to give it your best shot.”

A similar business lab was held last year which focused on the tourism sector. Youth Minister Charles says the Government of Dominica is pleased with results of last year’s lab.

“The report from the Dominica Youth Business Trust indicates that at least 21 from 31 young business entrepreneurs who participated in last year’s business lab are in operation and made some progress in the development of their products, which can be attributed to the knowledge and skills gained from the business lab. This represents a 68% success rate over a twelve month period. Also, these businesses are spread through the length and breadth of the island.”

David Slyper and Rina Yaffe will facilitate this week’s training exercise.

During the programme participants will address the challenges of business creation and develop skills to create green enterprises to preserve the fragile diversity of communities across Dominica.

The Organization of American States (OAS) is also collaborating in this entrepreneurship program which will create job opportunities for Dominica’s young people.

Jules Pascal of the Youth Development Division is optimistic that this latest initiative will assist his department with its mandate of providing training and employment opportunities for the island’s young people.

“The Youth Development Division is fully supportive of this program and of you as young people. We certainly want to help you to move one step further in your businesses.”