A broad agreement exists among the academia and public policymakers about the importance of entrepreneurial activity and entrepreneurs in the dynamics of economic development. New businesses drive innovation, generate jobs and stimulate productivity and competition thereby developing the economy and wellbeing of a society.
The Global Entrepreneurship Monitor (GEM) conducts the biggest ongoing research worldwide in order to study and analyze the relationship that exists between entrepreneurship and the national economic development. This project started in 1999 as an initiative of Babson College and the London Business School. At the present time, it is the only comparable data source that exists globally about a wide range of variables associated with the general entrepreneurial activity and with specific elements in the different stages that compose the entrepreneurial process.
GEM has been able to take and process harmonized data in an annual basis focusing mainly in three objectives:
- Measuring the differences that exist in the entrepreneurial activity levels between the different countries that participate.
- Discovering the principal causes and variables that affect the level of entrepreneurial activity in each country.
- Identifying policies that may foster the quality and quantity of the entrepreneurial activity in each country.
GEM Caribbean is a three year project, supported by Canada’s International Development Research Centre (IDRC), that will establish, train, and strengthen entrepreneurship research teams in: Colombia, Jamaica, Trinidad & Tobago and Barbados.
The research done by these teams will measure the levels, underlying factors, and environmental constraints of entrepreneurship within each national environment and comparatively within the region by using the Global Entrepreneurship Monitor (GEM) methodology. The findings can assist policymakers, educators, and researchers (both applied and theory building) in creating supportive environments that encourage job creation and inclusive economic development through growth in entrepreneurship.
The overall objective of this project is to build research capacities on entrepreneurship and to provide policymakers with a stronger empirical foundation on which to build and monitor progress in the promotion of entrepreneurship and job creation in the Caribbean.
The specific objectives include:
- To generate research findings on entrepreneurship on a national and regional level, with a focus on high growth entrepreneurship, particularly among youth and women as well as on creative industries in the Caribbean.
- To build the capacity of national research teams to conduct entrepreneurship research, to report and disseminate their findings, and to sustain their work in the long term.
- To facilitate discussion of these research findings and policy recommendations among the private sector, policy makers, educators, and researchers, particularly regarding promotion of high growth entrepreneurship and gender and entrepreneurship.
- To generate a harmonized, publicly available database on entrepreneurship in the Caribbean through the application of the Global Entrepreneurship Monitor (GEM) methodology.
Read Full GEM Caribbean Regional Report