Beyond the Beach Summit: “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 Beyond the Beach Summit 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.
Unlocking capital in Jamaica’s creative economy hinges on protecting intellectual property (IP) and improving access to finance. Jamaican creatives must register their IP, which financial institutions should recognize as a valuable asset. Successful examples include David Bowie’s Bowie Bonds, which generated $55 million, and Rihanna’s Savage X Fenty, which raised $115 million by leveraging its IP portfolio. Jamaica’s growing music market can attract investment, scale globally, and boost sectors like tourism and e-commerce, independent of traditional assets. The country is also a signatory to various World Intellectual Property Organization (WIPO) protocols, and the Securities Interests in Personal Property Act (SIPPA) supports the use of IP as an asset.
The global creative and cultural industries (CCI) generate approximately USD $2.3 trillion annually, contributing 3.1% to global GDP and supporting 30 million jobs, while Latin America’s Orange Economy produces USD $124 billion and employs 1.9 million people. In 2022, creative goods exports from the region reached USD $8 billion. To capitalize on this potential, Jamaica needs to align its creative industry policies, enhance infrastructure, and improve financial access for entrepreneurs. A key investment would be the development of a world-class entertainment venue to support local festivals and concerts, which could significantly boost income for the creative sector and tourism, as evidenced by Jamaican artists’ success abroad.
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.
Beyond the Beach Summit
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.
