Dr Kingsley Chin calls for Government to set up tech investment fund
Dr. Kingsley R Chin, CEO and founder of healthtech investment firm KIC Ventures
Dr Kingsley Chin, CEO of KIC Ventures, a Boston, United States (US)-based spinal technology development company, has called for the Jamaican Government to set up a fund to invest in technology development.
“Tourism, agriculture and other traditional areas of the economy will not spur the kind of economic growth necessary for Jamaica to move into the 22nd century. This will only be done through investment in technology,” said Chin, who was born in Jamaica.
He pointed to countries such as Singapore, South Korea and others whose economies are growing, noting that this is happening because of their investment in technology.
Chin, who is a part-time lecturer at the University of Technology (UTech) in St Andrew, noted that students are graduating from both UTech and The University of the West Indies with technology degrees and are unable to put their knowledge to use in service of developing the Jamaican economy.
“Many of these graduates are having to migrate to be able to pursue their career path because Jamaica does not offer them the kinds of opportunity that they need,” he said.
Chin, who is also a spinal surgeon, pointed out that his company has developed a number of spinal devices that have been patented in the US and are being used by doctors worldwide.
He recently held an investment meeting in Jamaica to showcase KIC Ventures to Jamaican investors.
UTech will today host Forecast Conference 2024, which runs until Friday and at which Chin will deliver the plenary speech tomorrow.
The conference, focused on ‘Advancing Science and Technology Development for National and Regional Development’, is aimed at transforming the Caribbean into a tech hub.
As an adjunct professor at UTech, Chin has long been committed to the vision of transforming the Caribbean into a thriving hub of technological innovation, akin to a modern-day ‘Wakanda’ for black entrepreneurs.
Chin and KIC Ventures have spent more than two decades laying the groundwork for this ambitious goal, with a focus on empowering young minds and fostering a culture of innovation throughout the region.
“To evolve from a service-based economy into an industrialised powerhouse, we must invest in technology development,” said Chin. “This vision isn’t just about business; it’s about creating opportunities for the next generation of Caribbean innovators to lead the world in groundbreaking technologies.”
Chin said he was supporting UTech’s mission to drive regional growth in science and technology.