Private sector entities are being urged to consider investing in a research and development fund, in order to stimulate innovation in Barbados.
The suggestion is coming from Executive Director of the Barbados Chamber of Commerce and Industry, Misha Lobban-Clarke.
She believes research is critical if the country is to come up with the next big thing that will have the power to build capacity and stimulate economic growth.
Ms. Lobban-Clarke made the point during a BCCI discussion held in collaboration with the Inter-American Development Bank.
General Manager of the IDB’s Caribbean Country Department, Therese Turner-Jones, says a failure of most regional businesses to engage in research and development, is a real obstacle to competitiveness.