Ministry and CARIRI Formalize Partnership to Advance Small Business Innovation and Entrepreneurship

This Memorandum of Understanding (MOU) signifies a pivotal moment in the development of St. Kitts and Nevis’ small business and entrepreneurial landscape. By partnering with CARIRI, a renowned Caribbean institution dedicated to industrial research and development, the Ministry is strategically positioning the nation to leverage regional expertise and resources to bolster its economic diversification and growth. This collaboration represents a significant investment in the future, promising to empower local entrepreneurs, stimulate innovation, and foster a more robust and sustainable economic ecosystem.

The core tenets of the MOU revolve around five key areas: technical support and training, innovation and research & development, entrepreneurial capacity building, joint project development and funding, and resource sharing and regional networking. These pillars represent a comprehensive approach to fostering entrepreneurial growth, addressing the multifaceted needs of small businesses and start-ups in St. Kitts and Nevis. The agreement envisions equipping local entrepreneurs with the necessary skills and knowledge to thrive in a competitive market through tailored training programs and access to cutting-edge technical expertise. Furthermore, it aims to stimulate innovation and research & development by creating an environment conducive to creativity and experimentation, fostering the development of novel products and services that can drive economic diversification and create new market opportunities.

The collaborative framework established by the MOU goes beyond mere knowledge transfer. It emphasizes the importance of entrepreneurial capacity building, empowering individuals with the necessary business acumen and managerial skills to effectively launch and scale their ventures. Through joint project development and funding initiatives, the partnership aims to provide access to critical resources, mentorship, and financial support, further bolstering the chances of success for aspiring entrepreneurs. Moreover, the MOU recognizes the importance of regional networking and resource sharing, enabling St. Kitts and Nevis to tap into the wider Caribbean network of experts, investors, and potential collaborators. This regional integration will create a more dynamic and interconnected ecosystem, fostering greater opportunities for growth and collaboration.

The signing ceremony, held in Basseterre on May 29, 2025, was attended by key representatives from both organizations, underscoring the mutual commitment to this collaborative endeavor. Mr. Hans-Erich Schulz, CEO of CARIRI, expressed his enthusiasm for the partnership, highlighting the potential for significant value creation for the people of St. Kitts and Nevis. He emphasized the importance of skill development and capacity building within the local workforce as a key driver of economic growth and development, recognizing the potential of even small nations to make a substantial impact. Ms. Delrine Taylor, Permanent Secretary in the Ministry, echoed these sentiments, expressing gratitude for CARIRI’s commitment to fostering the growth and development of the MSME sector in St. Kitts and Nevis. She underscored the anticipation for the collaborative initiatives and projects that will emerge from this partnership, recognizing their potential to drive economic development and empower local entrepreneurs.

Hon. Samal Duggins, the Minister responsible for the Ministry, further emphasized the significance of this partnership, describing it as a direct investment in the people, ideas, and economic future of St. Kitts and Nevis. He characterized the MOU as a bold step forward for innovation and enterprise, signifying the government’s commitment to creating a supportive and enabling environment for entrepreneurship to flourish. This strategic alliance aligns with the Ministry’s broader vision of fostering a vibrant entrepreneurial ecosystem, positioning St. Kitts and Nevis as a hub for innovation and creativity in the Caribbean. The MOU is not merely a symbolic gesture but a concrete manifestation of the Ministry’s commitment to delivering innovative and sustainable solutions that benefit the people of St. Kitts and Nevis, contributing to the overall economic prosperity of the region.

In conclusion, the MOU between the Ministry of Small Business, Entrepreneurship, Cooperatives & the Creative Economy and CARIRI represents a significant milestone in the journey towards a more diversified and resilient economy for St. Kitts and Nevis. This partnership is poised to unlock new opportunities for local entrepreneurs, fostering innovation, driving economic growth, and creating a brighter future for the nation. By leveraging regional expertise, resources, and networks, St. Kitts and Nevis is taking proactive steps to cultivate a thriving entrepreneurial ecosystem, positioning itself as a leader in innovation and sustainable development within the Caribbean region. The collaborative efforts envisioned by this MOU promise to empower a new generation of entrepreneurs, driving economic progress and creating a more prosperous future for the people of St. Kitts and Nevis.