CDB To Fund Animation Project For The Caribbean

BRIDGETOWN, Barbados, CMC – The Barbados-based Caribbean Development Bank (CDB) says it will jointly finance a two-year program that will allow more than 400 young people in the Eastern Caribbean to participate in the global multi-billion dollar mobile application and animation industries.

The CDB said along with partners, it will fund training under the Caribbean Animation and Technology Capacity Building Program (Carib-AniTech).

The project will complement work currently being done on animation and mobile applications software development in Jamaica by enhancing outreach to include Barbados Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia and St. Vincent and the Grenadines.

Carib-AniTech will build on the success of the Digital Jam; Girls Coding; and KingsTOON interventions in Jamaica, and will offer young entrepreneurs the opportunity to learn critical business skills, connect with angel investors, and benefit from a strategic network. It will also provide the animation industry with the trained animators it needs to qualify for international contracts.

CDB said it has allocated a half a million US dollar grant towards the program, while the government of Jamaica will provide J$17 million (One Jamaica dollar =US$0.008 cents), the World Bank US$400,000 and the private sector, US$80,000.

“This capacity building program is designed to assist in improving the competitiveness of Barbados and member states of the Organization of Eastern Caribbean States (OECS) in the information and communication technology (ICT) sector by leveraging existing support services in Jamaica.

“Carib-AniTech will provide opportunities for animators and mobile applications software developers to enhance their skills through regional and local capacity building activities, in addition to facilitating increased access to financing instruments to assist in growing their operations,” the CDB said.

It said the program will include sensitization and outreach to students of secondary, tertiary and technical & vocational schools; capacity building for animation and mobile applications software development by way of training workshops, a regional competition, opportunities to pitch to investors and mentorship; scholarships to attend courses in Jamaica.

“Once fully developed, it is estimated that there is room for 5000 Caribbean young men and women to join the chain of suppliers of animation and mobile app software services.”

The CDB said that the value of the animation industry is estimated to have reached US$222.8 billion globally, with animation-related derivatives having exceeded US$500 billion.