With the aim of facilitating a greater awareness of programmes which will assist businesses to incorporate innovation into their processes, The Caribbean Industrial Research Institute (CARIRI) in partnership with the Chaguanas Chamber of Industry and Commerce (CCIC) hosted a session entitled ‘Encouraging Innovation in Corporate T&T’ on Wednesday 19th July, 2017 at CARIRI’s Centre for Enterprise Development, Freeport.
CARIRI and the CCIC have established a strong relationship that is built on both organizations’ desire for diversification and growth in the economy.
This particular session was geared towards promoting the intent of the CCIC to remain proactive in providing avenues for businesses in the Central area and this was the platform that CARIRI chose to promote two new initiatives that will greatly assist organizations.
The first, is the Innovation Gap Analysis Programme (iGap) which is intended to identify and engage potential innovations in existing companies and will also address the need to develop a culture of Innovation in private sector enterprises, particularly SMEs, based on the recognition that SMEs are particularly vulnerable to the rapidly changing dynamics of the international economic environment and, to remain competitive, these enterprises must keep their value proposition current, relevant and valuable to customers.
The Data Innovation Solutions Centre (DISC) is the second initiative, which involves Business Intelligence and Data Analytics which will use the respective organizations data to provide information that can assist in making more sustainable and innovative business decisions.
This session also facilitated the signing of a Memorandum of Understanding (MOU) between CARIRI and exporTT. The signing of the MOU was witnessed by Senator the Honourable Paula Gopee Scoon, Minister of Trade and Industry.
This MOU will see greater collaboration between the two institutions; its general intent is to amalgamate the efforts of both parties by leveraging on the strengths and synergizing current projects/programmes.
Some of the aims of the MOU focus on the promotion of Data Analytics solutions, capitalizing on existing and upcoming technology and trade agreements, sharing of industry information on legal and regulatory developments, market intelligence and information on global trends as well as identification of expertise for advancement of local and regional skill sets, among a host of other initiatives.
CARIRI and exporTT have outlined as a priority, their commitment to the development of the local economy and maintain that more can be done together. The Minister of Trade and Industry commended both organizations for taking this initiative as she endorsed the collaboration.
The signing of the MOU with exporTT and the collaboration with the Chaguanas Chamber of Industry and Commerce opens up a new world of possibilities that will translate into tangible offerings in the near future from all parties.