Op-Ed: How Culture, Tech & Entrepreneurship Can Fuel the Caribbean’s New Economy

The third annual Beyond the Beach Summit, hosted by Silicon Caribe and Entrepreneurs Without Borders, opened with a bold plenary session titled, “How Culture, Tech & Entrepreneurship Can Fuel the Caribbean’s New Economy.” The session set the tone for the three-day summit and offered a compelling vision: transforming the Caribbean from a “sun, sea and sand” tourism haven into a globally respected hub for creativity, innovation, and entrepreneurial excellence. Moderated by Silicon Caribe’s Ingrid Riley, the panel featured dynamic voices from across the creative and tech spectrum, including Andrea Dempster-Chung of Kingston Creative, cultural branding expert Nathan Haddad, Gregory Moore of NovaCore Labs and Virtual Reality Jamaica, and Alain Leroy of Fourth Strategiesoik8 NYC.

Cultural and creative industries (CCI) span everything from heritage and performing arts to music, design, animation, fashion, gaming, publishing, and multimedia. When you consider transversal sectors such as cultural tourism and advertising, the economic potential becomes undeniable. It is a sector teeming with untapped capital, just waiting for strategic investment.

Recent case studies illustrate the power of culture as capital: The 2024 Vybz Kartel Freedom Street Concert generated an estimated USD $14 million from ticket sales and streaming; Chris Brown’s “Under the Influence” concert grossed $8 million in one night; and Carnival 2024 brought in a massive $31.5 million—with expectations that 2025 will surpass this figure.

Music, Jamaica’s most potent creative export, plays a central role in this economy. In 2023, the global value of music copyright exceeded $45.5 billion, surpassing the global cinema box office. With over 713 million global streaming subscribers and BoomPlay—Africa’s leading digital platform—boasting 60 million users, the Caribbean must position itself to claim a larger share of the music market.

But the keys to unlocking capital in the creative economy lie in two things; intellectual property and access to finance. The intellectual property of Jamaican creatives must be registered and protected, and financial institutions must recognize its value as an intangible asset class. There is already precedent: in 1997, David Bowie famously monetized his music catalogue through “Bowie Bonds,” raising $55 million from future royalties. More recently, Rihanna’s Savage X Fenty raised $115 million, leveraging its IP portfolio—including trademarks and design equity—to attract investment. Jamaica’s vibrant music market is growing, with local consumption fueling regional success. IP-rich music brands can raise capital, scale globally, and support broader economic sectors like tourism, e-commerce, and logistics—without depending on traditional physical assets like “house and land”.  Jamaica is also signatory to several World Intellectual property (WIPO) protocols and the Securities Interests in Personal Property Act (SIPPA) provides a legal framework for IP to be used as an asset here at home.

Globally, the CCI sector generates nearly USD $2.3 trillion annually, contributing 3.1% to global GDP and supporting 30 million jobs. The Orange Economy in Latin America produces USD $124 billion annually and employs 1.9 million people. In 2022 alone, creative goods exports from Latin America and the Caribbean totaled USD $8 billion. To truly harness this opportunity, Jamaica must align its creative industry policies, make strategic infrastructure investments, and open financial access to entrepreneurs in the Orange Economy. A long-overdue and game-changing investment is the development of a world-class entertainment venue. Jamaican artists are selling out arenas abroad—like Vybz Kartel at Barclays and Sean Paul across the UK—while lacking comparable local infrastructure. A dedicated venue could anchor local festivals and concerts, generating millions in income to not only the creative sector but other industries too; particularly tourism.

Culture is capital. The Caribbean is rich with creative energy, heritage, and authenticity. What’s missing is a strategic framework that leverages technology and entrepreneurship to convert this cultural goldmine into sustainable economic value.  At Kingston Creative, we implemented a three-year programme called Createch, funded by the IDB and DBJ, to explore the intersection of creativity and technology. The initiative focused on improving market access, providing funding to the sector, and enabling creators to access free business and IP registration and training.

At Kingston Creative, we have consistently advocated for:

• IP education and protection
• Capital access via banks, investors and grants
• Key Infrastructure like a purpose-built festival venue
• Business and digital skills training for creative entrepreneurs

It’s not just about the money. Creative industries are also highly inclusive, offering entry points to women, youth, and informal workers. They empower marginalized voices from low-income communities, create jobs across skill levels, and build ownership and generational wealth through IP. For small-island developing states like Jamaica, the creative economy is more than an industry – it’s a pathway to resilience, identity, and economic renewal.

The call to action is clear: Lets develop a thriving creative ecosystem where local talent can succeed without emigrating, where culture is both preserved and monetized, and where festivals, concerts, and events bring the world to us. This is a future supported by smart infrastructure and aligned policy—a future where the brilliance and talent of our people defines our global edge.