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Port of Spain, Trinidad and Tobago – November 28, 2024: The College of Science, Technology and Applied Arts of Trinidad and Tobago (COSTAATT) hosted a lively discussion on “Innovation, Entrepreneurship, and Competitiveness: The Caribbean Perspective” at its Innovation Café Series. Held at the City Campus, the event brought together academics, business leaders, policymakers and the public to explore how innovation can fuel economic prosperity and resilience in the Caribbean.
Professor Brian Copeland, Chairman of COSTAATT’s Board of Trustees, set the stage. He emphasised the urgency of creating a National Innovation System (NIS) to boost competitiveness. Professor Copeland outlined a plan for a regional Caribbean Innovation System that supports the development of foreign exchange-earning small and medium enterprises (SMEs). He highlighted the importance of fostering a culture of innovation at all levels, similar to the German Mittelstand model, to build a network of robust, innovation-driven Caribbean SMEs.
Professor Copeland also addressed challenges like reliance on imported technologies and low R&D investment, pointing to Trinidad and Tobago’s 2023 Global Innovation Index ranking (102nd out of 132). He advocated for stronger collaboration between government, academia, and the private sector (the “triple helix”) to cultivate a sustainable network of export-oriented SMEs.
Panel Discussion: Key Questions Explored
Following his presentation, Professor Copeland joined Hans-Erich Schulz, CEO of CARIRI, and Vashti Guyadeen, CEO of the Trinidad and Tobago Chamber of Industry and Commerce, for a thought-provoking panel discussion moderated by Dr. Kyra McGowan-Santana, Dean of COSTAATT’s School of Business and Digital Technologies. The discussion focused on:
Challenges to innovation in small island states (limited resources, brain drain, weak infrastructure) and the need for strategic investments and regional collaboration.
How companies can explore innovative opportunities (leveraging data, understanding market trends, fostering cross-sector partnerships).
The characteristics of innovative leadership in the Caribbean (adaptability, inclusivity, long-term vision integrating technology and sustainability).
About the Innovation Café Series
COSTAATT’s monthly Innovation Café Series tackles critical Caribbean issues, fostering dialogue and collaborative solutions. This forum brings together academia, industry, and policymakers to drive innovation and positive change.
About COSTAATT
Established in 2000, the College of Science, Technology and Applied Arts of Trinidad and Tobago (COSTAATT) is a leading tertiary institution dedicated to national and regional development through innovative education and applied research.
