UWI/JBDC Partner to Open Business Advisory Service Centre
Posted: January 25, 2011
The University of the West Indies, Mona has partnered with the Jamaica Business Development Corporation (JBDC) to open the JBDC/UWI Business Centre on the Mona Campus. The official opening took place at the Old Personnel Building, 4 Gibraltar Camp Way on Wednesday, January 26, 2011 at 4.00 p.m.
The initiative is a partnership between UWI through its Department of Management Studies and the Jamaica Business Development Corporation. The Department of Management Studies, through its recently launched Bachelor of Science degree in Entrepreneurship, generates a number of business plans every year. In order to make these plans a reality, the Department sought to partner with the JBDC which has the expertise in transforming plans and ideas into real business ventures. With the partnership, UWI students and staff who have business ideas but do not know how to transform them into real business ventures, now have the opportunity to take ideas to the Business Centre located here on the Campus and benefit from the JBDC advisory services.
One of the main aims of the Centre is to develop an ideas and knowledge data bank. The E-Biz Ideas Bank, as it will be known, will facilitate the brokering of business ideas originating from potential entrepreneurs such as our students and staff members. The portal will host fresh ideas for users including students, lecturers and entrepreneurs and will allow investors after registering to browse for listed business opportunities. The investors will then be able to purchase or enter a joint venture agreement with the originators of the ideas. The research bank will also host applicable research on the entrepreneurship and small business operations.
According to Head of the Department of Management Studies, Dr. Densil Williams, collaboration with the JBDC is another practical manifestation of the University’s goal to contribute, in a tangible way, to the economic transformation of the Jamaican and by extension, Caribbean economies. “UWI is a repository for business ideas. Our link with the JBDC will help to transform these ideas into real businesses which will employ real people and contribute significantly to the output of the local and regional economy,” Dr. Williams said.
The Centre will also provide the suite of services for which the JBDC has established an excellent reputation. As a satellite of the JBDC, the Centre will provide; Business advice and consultancy, Market research and Guidance, Export Information Services, Business plan assessment, Loan Proposal and financial statements.
It will also provide training in the following areas: Getting Started in Business, Business Planning, Business Management, Product Development, Marketing and Record Keeping. Customized training packages will also be offered based on specific needs and demands.