Global Entrepreneurship Week (GEW)

GEW began in 2007 and is recognized as the world’s largest celebration of innovators and job creators, who launch startups that bring ideas to life, drive economic growth and expand human welfare. The aim is to inspire people everywhere through local, national and global activities designed to help them explore their potential as self-starters and innovators.

JBDC is once again driving this global movement in an effort to highlight emerging and creative industries, facilitate business to business discussions and encourage business start-ups on a national level. Against, this backdrop we will mark GEW celebrations during the week of November 18-23, 2019 under the theme – Creating Opportunities: Developing Economies.

The theme seeks to highlight opportunities and celebrate successes of the Orange Economy, Green Economy and Blue Economy, all of which have immense potential to create entrepreneurial opportunities and contribute to Jamaica’s economic development.

The Green Economy

According to Blaj (2013), the concept of green economy was launched by the United Nations Environmental Programme (UNEP) since 2008 as an alternative to traditional economic growth and defined as: seeking an improvement in social and human welfare while causing an improvement in the ecological deficit and reducing man’s impact on the environment. Fundamentally, a green economy is one that is low carbon, resource efficient, socially inclusive and moreover provides justice for climate and humanity (Blaj, 2013; Popke et al,. 2014).

The Blue Economy

The ‘Blue Economy’ is an emerging concept which encourages better stewardship of our ocean or ‘blue’ resources. It underpins the thinking behind the Commonwealth Blue Charter, highlighting in particular the close linkages between the ocean, climate change, and the wellbeing of the people of the Commonwealth. At its heart, it reaffirms the values of the Commonwealth, including equity and public participation in marine and coastal decision-making.  It supports all of the United Nations’ Sustainable Development Goals (SDGs), especially SDG14 ‘life below water’, and recognises that this will require ambitious, co-ordinated actions to sustainably manage, protect and preserve our ocean now, for the sake of present and future generations.

Fast Facts

  • The worldwide ocean economy is valued at around valued at around US$1.5 trillion per year.
  • Eighty per-cent of global trade by volume is carried by sea.
  • 350 million jobs world-wide are linked to fisheries.
  • By 2025 it is estimated that 34% of crude oil production will come from offshore fields.
  • Aquaculture is the fastest growing food sector and provides about 50% of fish for human consumption.

The Orange Economy

Who would have thought that part of the response to the developmental challenges of Latin America and the Caribbean would have been in the hands of creative talents, designers, artists and entrepreneurs? Creativity as a driver of innovation can contribute to the diversification as a necessary tool for having a globally competitive knowledge-based economy. One of the areas of development is the so-called orange economy, that is, the set of activities that, in combination, allow for ideas to be transformed into goods and services whose value can be based on intellectual property, according to the definition of the Inter-American Development Bank (IDB)