Barbados is being positioned to become a hub for life sciences in the Caribbean.
Minister of Industry, Innovation, Science and Technology (MIST), Davidson Ishmael, made the disclosure on Friday, during the opening ceremony for the third Science and Technology Festival, held from March 16 to 18, at The University of the West Indies, Cave Hill, St. Michael.
Mr. Ishmael told those gathered under The UWI’s graduation tent that life sciences would be one of the central drivers for the country’s economic growth. He added that given Barbados’ economic dependency on the tourism industry, Government was seeking to diversify into other sectors.
“It is envisaged that this new and expanded thrust will brand Barbados as a high-demand destination for global scientists and life sciences practitioners – a safe place for them to work and enjoy some leisure. Over the last few decades, Barbados has already made some strides within the life sciences sector.
“In this regard, I must highlight the significant contribution that has been made to our economic output resulting from the movement of some of the products which constitute Barbados’ top exports; namely rum, insecticides and margarine. Therefore, the Government, through the BIDC/Export Barbados, is seeking to leverage the existing capacity in the life sciences to build a globally competitive industry on this new and strategic trajectory,” Minister Ishmael explained.
To this end, he shared that BIDC/Export Barbados had proposed the establishment of a Life Sciences Park, which will be located in the Newton Industrial Estate in Christ Church. The park is expected to attract investment from leading biotechnology companies and “high potential start-ups focusing on high-value life sciences products and services”.
Several stakeholders have already expressed interest in the Life Sciences Park, the Minister disclosed. Furthermore, he added that one company, BioConnect Medical Centre, had engaged the BIDC for assistance in establishing the first menopause- focused medical clinic in the Caribbean.
The park, he said, would become a reality, following a recently completed life sciences sector study by consulting firm Deloitee, which has made several recommendations on requirements for the build-out of the sector.
Additionally, Mr. Ishmael said that for the 2023 to 2024 financial year, MIST, through funding from the Organization of American States, would engage the services of a consultant to develop a science, technology, and innovation policy for Barbados, as well as a framework for the measurement of local research and development and innovation.
He pointed to Government’s commitment to the promotion of science, technology, and innovation through the establishment of the International Food Science Centre at the Newton Industrial Park; its renewable energy strategy and clean technology capacity; as well as its Smart City initiative, which has already realised the deployment of free public Wi-Fi in Bridgetown, during its first phase.
The Minister said Government realised the significance of artificial intelligence and robotics which were transforming workplaces across the globe, stating that the new workplace would look very different from what now exists.
“As we look forward to exciting advances in science, technology and innovation, it is therefore extremely critical that the country enthuse and inspire our young people for the world of tomorrow where these technologies will become common place in the workplace and elsewhere.
“Our youth, by embracing a career in science, become the drivers of new discoveries and innovations that create growth and enhance lives. Indeed, we also need to build the base of students interested in and passionate about science and technology,” he asserted.
The Science and Technology Festival is an initiative of MIST and The UWI. It gathers together researchers and Barbadian youth for a scientific showcase and educational platform.
It was born out of a need to provide a consistent platform for scientists to share their research findings, to mentor and engage youth in matters related to science and technology, and bring new technologies to the fore for individuals to become more aware and engaged in both areas.