INTERESTING – WHAT’S WRONG WITH THIS IDEA?

There has been a lot of talk going around regarding start up Jamaica. One person coined a new phrase to it, that being SET-UP JAMAICA.

There appears to be several conflict of interest in respect to how this money / loan that Jamaicans never agreed to is to be spend.

For starters so far it looks like a farce and a sick joke, as the the feeding trough will not be open until 2 years time.

I read the following article and found some interesting quotes.

15,000 Youth to Benefit from US$20 Million Digital and Animation Project

“A major part of the funding will go towards ‘Startup Jamaica,’ a Government initiative aimed at providing technical support to local entrepreneurs and innovators in the area of technology.”

“‘Start-up Jamaica’ is a public/private partnership for economic growth and development, which aims to help Jamaica’s innovators and entrepreneurs grow their business ideas into a product, thus increasing employment and access to foreign exchange.”

“The project will also focus on: ‘Skills and Capacity to Enhance Employability and Entrepreneurship’; Early Stage Investment for Tech Start-ups; Support to Science, Technology and Innovation; and Project Administration.”

“Private sector stakeholders, including JNBS, Lime, and Oasis500, will provide capital to finance start-ups, as well as non-monetary support”

Source:
http://jis.gov.jm/15000-youth-benefit-us20-million-digital-animation-project/

QUESTION

If private sector stakeholders will provide capital. Where is majority of the US$20 million loan going to? And what is it really being spent on?

Are they saying that a government building being renovated to house Start Up Jamaica, and the local staff worth majority of US$20 million?