may 20- 22, 2018 at the ramada georgetown princess hotel … · 2018. 5. 14. · may 20- 22, 2018...

May 20- 22, 2018 at the

Ramada Georgetown Princess HotelGeorgetown, Guyana.

Contact us (592) 222-4932 (592) 623-0926Email: [email protected]

SEBI Inaugural Entrepreneurship and Innovation Conference

Teaching Innovation

Economic Transformation Through Entrepreneurship & Innovation

1SCHOOL OF ENTREPRENEURSHIP AND BUSINESS INNOVATION 2018

MESSAGE FROM THE VICE-CHANCELLOR

I am delighted that our School of Entrepreneurship and Business Innovation (SEBI), having been launched on Friday, July 7, 2017, is growing and maturing. Jim Collins and Jerry

Porras introduced the concept of the Big Hairy Audacious Goal (BHAG) in their 1994 book entitled Built to Last. SEBI is one of my BHAGs as we journey along Renaissance Road, and this conference provides evidence of the maturing of SEBI. The core vision of SEBI is “to educate and develop entrepreneurial and innovative leaders and managers with skills, competences, predispositions and habits of mind to contribute to the social vitality and sustainable economic advancement of the nation and global community”.

A key component of SEBI’s growth and maturity is its interaction with and response to the needs of the public and private sector entities, the result of which must be the enhancement of relevant skills and competencies. It is in this context, as SEBI approaches its first birthday, that I take pride in welcoming you to its Inaugural Entrepreneurship and Innovation Conference, offered under the theme “Economic Transformation through Entrepreneurship and Business Innovation”. As well, I extend a special greeting to our participants from the Caribbean, the United States and further afield, who I encourage to get a glimpse of our nation’s rich biodiversity landscape beyond Georgetown.

The conference has three aims. Firstly, to examine issues related to developing an ecosystem in which entrepreneurship and innovation can thrive, with emphasis on the youth and future entrepreneurs. Secondly, to showcase local businesses and communities engaging in value-added activities, which reflect the unique ways in which these twin pillars of future economic development are being formed. Thirdly, to discuss issues particularly relevant to entrepreneurship, the redevelopment of village economies and the strengthening of indigenous communities. Moreover, this conference is not a talk shop for academics; it provides conversation space for practitioners and policymakers, with a view to initiatives afterwards.

It is my hope that this conference will be an enriching experience that will serve as a catalyst for the further growth

Professor Ivelaw Lloyd Griffith

and development of SEBI and of small and large businesses in Guyana. Also, it is my expectation that this conference will give birth and maturity to many private and public partnerships/collaborations and expansion of the annual SEBI Conferences over ensuing years. Let me end by thanking the Planning Committee, the various sponsors and university and other contributors, presenters, and all attendees for making this inaugural event a resounding success.

Keep on keeping on!

Professor Ivelaw Lloyd Griffith, Ph.D., C.C.HVice-Chancellor and Principal

2 THE UNIVERSITY OF GUYANA

Welcome to the Inaugural Entrepreneurship Conference of the School of Entrepreneurship & Business Innovation (SEBI). This historic

event is the culmination of efforts to launch an institution which caters to specific needs of Guyana and the region. While there is much discussion about entrepreneurship and innovation, we know that there is much more to be done. This conference is intended to advance that work by bringing together stakeholders to provide ideas on ‘the way forward.’

Globally, there is great interest in both entrepreneurship and innovation. These have become increasingly important within developing countries, which have experienced the devastating effects of the ‘brain drain,’ as the more talented have explored opportunities in other places. Interestingly, doing so has also served as the basis for new innovations and ventures to be created within their homelands and made significant strides in economic development. One only has to look at the examples of Singapore, Malaysia, China, India, Jamaica, and Ghana to see the reverse benefits of the ‘brain drain’ to the entrepreneurial and innovative capacity within their countries.

As we think of the needs of this region and, most importantly, the nation, it is also important that we recognize the importance of all economic sectors. Though we anticipate much success with the production of oil and gas, we must remember that we are advocating for a Green Economy. What that will entail is significant innovation and an entrepreneurial drive to change the way we do things; create businesses that can utilize local resources for new products; and tapping foreign markets through the creation of value-added items. No longer can we focus on developing and exporting primary products. Instead, we must look towards opportunities for value-added productivity. This

MESSAGE FROM THE DEAN, SEBI

Professor Leyland M. Lucas

conference is intended to help us build on the effort to embrace entrepreneurship and innovation as essential parts of our national agenda. Doing so is important to accomplishing our national goals of development and growth.

Finally, let me thank all those who participated in making this conference possible. Members of the Planning Committee, faculty and staff of SEBI, colleagues at UG, sponsors, friends and other stakeholders. Without your combined efforts, this conference would not have been possible.


SECRETARIAT TEAM

INAUGURAL ENTREPRENEURSHIP AND INNOVATION CONFERENCE TEAM

1. Professor Leyland Lucas, Dean, SEBI, - Chair2. Ms. Patricia Bacchus, CEO, Caribbean Containers Inc.3. Mr. Ralph Bazilio, CEO, Bazilio Cobb Associates, Consultants and Accountants 4. Mr. Renne Chester, Director, Communications & Corporate Relations, SEBI, The University of Guyana 5. Mr. Vishnu Doerga, Certified Business Coach, Action Coach Guyana6. Ms. Caroline Ann English, Business Development Manager, Office of Strategic Initiatives, Vice-Chancellery, The University of Guyana7. Mr. Asafa George, Chief Executive Officer, W&T George and Co. 8. Mrs. Gwyneth George, Librarian, The University of Guyana 9. Mr. Alim Hosein, Lecturer, The University of Guyana 10. Ms. Abigale John, Student Representative, SEBI 11. Dr. David E. Lewis, Vice President, Manchester Trade Ltd. Inc., USA12. Mr. Mikhail McKenzie, Student Representative, SEBI 13. Ms. Paulette Paul, Public Relations Officer, Public Relations Division, The University of Guyana 14. Ms. Sharon Roopchand-Edwards, Principle Academic Engagement Officer, The University of Guyana 15. Dr. Lowell Porter, CEO, Small Business Bureau, Ministry of Business, Guyana 16. Dr. Lila Roa, Deputy Executive Director & Senior Lecturer, Mona School of Business and Management, The University of the West Indies Mona17. Mr. Cosford Roberts, Organic Development Corporation, Maryland, USA18. Dr. Thomas Singh, Snr. Lecturer, The University of Guyana 19. Mr. Austin Thompson, Jr., CEO & Principal Consultant Thompson Management Consulting LLC, Georgia, USA20. Mrs. Carol Webster, Chief Executive Officer, O Squared Consulting and Lecturer, SEBI, The University of Guyana21. Dr. Fitzgerald Yaw, Director, Office of Strategic Initiatives, Vice-Chancellery, The University of Guyana

1. Professor Leyland Lucas, Dean, SEBI, The University of Guyana 2. Mr. Hugh Todd, Assistant Dean, SEBI, The University of Guyana 3. Ms. Tracy Alves, Academic Advisor, SEBI, The University of Guyana 4. Ms. Christina Bynoe, Planning Officer, Office of Strategic Initiatives, Vice-Chancellery, The University of Guyana5. Mr. Renne Chester, Director, Communications & Corporate Relations, SEBI, The University of Guyana 6. Ms. Caroline Ann English, Business Development Manager, Office of Strategic Initiatives, Vice-Chancellery, The University of Guyana7. Ms. Cassandra Karran, Academic Advisor, SEBI, The University of Guyana 8. Mrs. Danniebelle Mohabir, Special Assistant, Office of Strategic Initiatives, Vice-Chancellery, The University of Guyana9. Ms. Paulette Paul, Public Relations Officer, The University of Guyana 10. Ms. Junica Pluck, Secretary, SEBI, The University of Guyana 11. Ms. Tamika Profitt, Administrative Officer, SEBI, The University of Guyana


TABLE OF CONTENTS


Message from the Vice Chancellor

Message from the Dean, SEBI

Inaugural Entrepreneurship and Innovation Conference Team

IEIC At-A-GLANCE

Keynote Speakers

Sunday - Welcome Reception

Monday

Tuesday

Institutional Profile

About SEBI

Our Sponsors and Supporters

TABLE OF CONTENTS


IEIC AT-A-GLANCE

All activities are being held at the Ramada Georgetown Princess Hotel.

Sunday, May 20, 201815:00 h – 17:30 h Registration Conference Secretariat 18:00 h – 20:00 h Opening Reception Roraima Room

Monday, May 21, 201807:30 h – 16:30 h Registration Conference Secretariat08:30 h – 09:30 h General Session Roraima Room09:30 h – 09:45 h Coffee Break 09:45 h – 10:45 h Virtual Presentation – “Capital Markets Optimisation

in the Cooperative Republic of Guyana: Policy and Private Sector Recommendations” – New York University Team

Roraima Room

10:45 h – 12:00 h The Entrepreneur in the Process of Economic Development – Prof. Tarron Khemraj

Factors Shaping the Impact of Transaction Cost Linked to Non-Tariff Regulations on Exports from Guyana – Ms. Dianna DaSilva-Glasgow

Small Business Survival in Guyana: Insights and Implications – Mr. Sukrishanall Pasha

Market Size and Copy Cats as Limits to Entrepreneurship – Mr. Collin Constantine

Paper Session I - Room 1

Diasporic Entrepreneurship, Trade and Investment in the Caribbean – Dr. Keith Nurse

Remittances, Social Issue Resolution and New Venture Creation – Prof. Leyland Lucas

The Private Sector and Economic Development in Guyana – Prof. George K. Danns

A High Impact Job Creation and Economic Growth Program through Enlargement and Enhancement of the Micro and Small Business Sector: Breaking through the Barriers to Sustainable Growth and Prosperity – Mr. Cosford Roberts A. Roberts

Paper Session II - Room 2


Monday, May 21, 2018weOwn Space: A Co-working Space for Developing Economics – Mr. Eldon Marks & Ms. Chitra Dwarka

Towards a National Cyber Security Strategy – Mr. Malcolm Williams & Ms. Sandra Khan

Economic Transformation through Data Literacy – Mr. Leslie Lee Fook

Paper Session III – Roraima Room

12:00 h – 13:30 h Keynote Luncheon Address Roraima Room13:30 h – 14:30 h Panel Discussion - “Entrepreneurial Challenges

in Indigenous Communities and Youth”

Chair: Dr. David Singh

Roraima Room

14:30 h – 15:30 h Panel Discussion - “Safeguarding Innovations: Patenting and Legal Protections”

Chair: Mrs. Carol Webster

Roraima Room

15:30 h – 16:30 h Gender Inequality and Entrepreneurship – Dr. J. Kalu Osiri, Mr. Uche Jarrett, Ms. Gloria Mwieseneza & Ms. Donna Morrison

Paper Session IV – Room 1

Women Empowerment through Entrepreneurship – Ms. Lyndell Danzie-Black

Rural Women Farmers and Sustainable Livelihoods: Guyana’s Outlook – Ms. Paulette Henry and Dr. Grayson Halley

Industry and Academic Collaboration for Innovation in the Natural Sciences at UG 2012-14, October 2015 – Ms. Shameza David

Paper Session V – Room 2

Waste Management Solutions for a Sustainable Future – Mr. Yonnick K.E. David

Bio-Ethanol Via Fermentation, A Bright Perspective for the Guyanese Economy – Prof. Raymond C. Jagessar

Exigency of Infrastructure for Developing Hinterland Communities of Guyana – Mr. Nazim Baluch & Mr. Richard Rambarran


IEIC AT-A-GLANCE

Andragogical Approaches to Curriculum, Instruction and Assessment in Entrepreneurship: Strategies to Enhance Best Practices – Prof. Terrence E. Simon

Caribbean Students’ Experiences at One HBCU: Implications of Acculturation and Adjustment for Undergraduate Students – Ms. Tandeca King Gordon

A Customer-Focused Strategy: An Imperative for the Entrepreneurship Organization – Dr. Jacqueline Murray

Paper Session VI –Roraima Room

16:30 h – 16:45 h Coffee Break

16:45 h – 18:00 h Panel Discussion - “Innovation, ICT and Economic Change thru Diaspora and Local Engagement”

Chair: Dr. Andrew Boyle

Roraima Room

Tuesday, May 22, 201808:30 h – 09:30 h General Session Roraima Room09:30 h – 09:45 h Coffee Break

09:45 h – 10:45 h Panel Discussion - “The Oil and Gas Business vs. The Business of Oil and Gas”

Chair: Prof. Leyland Lucas

Roraima Room

10:45 h –11:45 h Panel Discussion - “Developing a Financial Sector to Support New Business Development”

Chair: Mr. Richard Sammy

Roraima Room

12:00 h – 13:30 h Keynote Luncheon Address Roraima Room13:30 h– 14:30 h Business Plan – Competition Room 1


Tuesday, May 22, 2018Panel Discussion – “Green Energy Initiatives, Sustainability and Economic Development”

Chair: Ms. Dina K. Benn

Roraima Room

Student Entrepreneurial Empowerment Development (SEED), University of the West Indies, Cave Hill Campus: A Case Study – Ms. Ayanna Young-Marshall

Paper Session VII – Room 2

Youth Entrepreneurship: Best Practices from Other Developing Countries – Dr. Donna E. Danns

A Study and Development of an Agricultural Business Incubator Model aimed at Improving the Seamless Flow of Agricultural Students from Primary through Tertiary Education and Job Creation in Guyana – Dr. Patsy Francis

14:30 h – 15:30 h Panel Discussion - “Empowering Women and Underserved Communities Through Entrepreneurship”

Chair: Honourable Simona Broomes, Minister within the Ministry of Natural Resources

Roraima Room

15:30 h – 16:30 h Panel Discussion - “Teaching Entrepreneurship to Millennials in an Uncertain Environment”

Chair: Prof. George Danns

Roraima Room

16:30 h – 16:45 h Coffee Break16:45 h – 17:45 h Panel Discussion - “Business Incubators for Youth

Employment & Business Creation”

Chair: Mr. Rosh Khan

Roraima Room

18:00 h– 18:45 h Closing Plenary Roraima Room


8:30 h - 9:30 h Roraima Room

Chair: Mrs. Carol Webster, Chief Executive Officer, O Squared Consulting and Lecturer, SEBI, The University of Guyana • National Anthem • Welcome and Occasion: Prof. Ivelaw Lloyd Griffith, Vice-Chancellor and Principal, The University of Guyana • Introduction of Keynote Speaker: Ms. Carol Webster• Keynote Address: Mr. Justin Nedd, Chief Executive Officer, Guyana Telephone & Telegraph Co.• Cultural Item• Vote of Thanks• Announcements

OPENING CEREMONY

DAY 1 KEYNOTE SPEAKER:Mr. Justin Nedd CEO, GTT

BIO When it comes to innovation, Justin Nedd leads the pack. As CEO of GTT, he spearheads Guyana’s number 1 network and in the last two years since he has been at the helm, the company has seen significant improvements in customer service, mobile data penetration and the delivery of high speed internet across the country.

Justin is focused on developing a team that infuses innovation into the organisation and increases efficiency through lean management techniques. The GTT transformation is well on its way. As the world flattens and Guyana transforms into a knowledge driven economy; Justin, advocates for the development of technology. His career includes several management and ICT roles in Mining, Manufacturing, Government and Telecommunications. He holds CPA, PMP and other industry certifications from Oracle, Microsoft and Sun Microsystems and has degrees in Computer Science and Engineering.

Justin and his GTT Team are working to fulfill his vision of creating a Guyana that has access to world class products and services.

Mr. Charles Ceres CEO, GSEC Inc.

BIO Charles P Ceres, born and bred in Springlands, Corentyne, Berbice was awarded a Guyana Bauxite Company (Guyba) Cadetship after graduating from The University of Guyana in 1974. He attended Queens University as a Guyba Scholar, graduating with a B.Sc. in Civil Engineering in 1979. He returned to Guyana in 1979 and worked for Guyba until 1983 when he migrated to Trinidad. He earned enough money in eighteen months to proceed to the USA where he attended Drexel University from which he graduated with an M.Sc. in Geotechnical Engineering and Groundwater Hydrology. He rose to the position of Senior Project Manager with internationally renowned geosciences consulting firm Golder Associates before returning to Guyana, at the age of 39, in 1993 to start Ground Structures Engineering Consultants.

Notable achievements in his career include conceptualizing, starting and managing a geotechnical engineering services group for the Guyana Mining Enterprise; conceptualizing, starting and managing a ground water hydrology group for French and Parrello; and conceptualizing, starting and managing an environmental compliance group for Site Engineers. Charles’ technical strengths include numerical modeling of solutions to complex engineering problems having pursued issues such as stochastic modeling of groundwater flow; multi-species fate and transport contaminant modeling in groundwater; and wave propagation analyses for seismic events. These strengths have in no small way influenced the continued success of his firm Ground Structures Engineering Consultants Inc.


Day 2 KEYNOTE SPEAKERS:

Hans Dominic Gaskin MINISTER OF BUSINESS

BIO Hans Dominic Gaskin is the Minister of Business of the Cooperative Republic of Guyana since May 2015. As the Minister of Business, Mr. Gaskin has responsibility for creating a business environment that fosters innovation, competitiveness, growth and diverse employment opportunities by improving the ease of doing business, attracting sustainable investment, promoting value-added exports and enhancing workforce skills through policy-making, advocacy and cooperation with the private sector.

Effective July 1, 2016, the Minister of Business assumed responsibility for the growth and development of the tourism sector in Guyana. The Minister is a Jeweller by profession having worked in various areas of Jewellery manufacturing since 1983. This included precious stones, computer aided design, lostwax casting and diamonds. Minister Gaskin is also trained in Gemology and diamond grading. The Minister is also a published author and his first such work is the book The Ashgabat Verdict, a work of fiction published in 2014.

Mr. Ramesh Persaud CEO, IPED

BIOMr. Ramesh Persaud is the Chief Executive Officer (CEO) of the Institute of Private Enterprise Development Limited (IPED) since January 1, 2010. He was only 30 years old at the time he took the helm and is responsible for G$3.7 billion of assets supporting 4,000 micro and small businesses employing 10,000 persons in all parts of Guyana. Under his stewardship, the company has seen an expansion of its loan portfolio by over 115% whilst maintaining a repayment rate of 97%.

In the last year, he played a critical role in IPED becoming a Local Partner with DAI Energy Resources Group, an Exxon Mobil Tier 1 contractor, to bring to fruition the Centre for Local Business Development

that will aid greatly in ensuring small and medium businesses are developed to benefit from the emerging oil and gas sector.

Mr. Persaud was also an entrepreneur and one of the founders of Cacique Accounting College in 2006, where he was also a Senior Lecturer supporting the growth and development of more than 3,000 young persons for over 10 years. The College is still in existence under new ownership and management. Mr. Persaud obtained a Masters of Business Administration (MBA) Degree from the Edinburgh Business School, Heriot Watt University, Scotland.

A trained accountant and member of the Association of Chartered Certified Accountants (ACCA), Ramesh has also served as Chairman of the Caribbean Microfinance Alliance (CMFA), Chairman of the Private Sector Commission of Guyana Limited (PSC), and is the current Chairman of the PSC’s Sub Committee on Economic Policy. He is also a Council Member of the Consultative Association of Guyanese Industries (CAGI) and Director on the Board of National Insurance Scheme. Mr. Persaud has also served as a Director/Commissioner with Guyana Office for Investments (GOINVEST), Guyana Book Foundation and the Commission of Inquiry into the Education System of Guyana.

Prior to joining IPED in 2006 Mr. Persaud was the Group Financial Accountant at GUYSUCO from 2004-2006. Mr. Persaud was appointed as the Honorary Consul for the Republic of Poland in Georgetown in April 2016.


10:45 h – 12:00 h Paper I - Room 1

Moderator: Mr. Hugh Todd, Assistant Dean, SEBI

THE ENTREPRENEUR IN THE PROCESS OF ECONOMIC DEVELOPMENTDr. Tarron Khemraj, Associate Professor of Economics, New College of Florida; Adjunct Professor of Economics, Kate Tiedemann College of Business, University of South Florida, USA

Abstract: It is well known that growth and economic development are not synonymous. A country can experience rapid growth, but development takes time and requires decades of sustained growth. The objective of this presentation is to synthesize various parts of the literature in order to link entrepreneurship to economic growth. Therefore, the history of Caribbean and Guyanese enterprises, entrepreneurship and macro-economic growth theory, evolutionary economics and industrial economics were examined according to Porter’s competitive advantage of nations. With the emerging oil and gas sector, the State as entrepreneur or manager becomes crucially important since most revenues will flow towards central government, which has to decide how to optimally spend these resources. Should ExxonMobil scale up production beyond 100 thousand barrels per day, Guyana could witness revenues between US$2.4 to US$4 billion annually. Present GDP is just around US$3 billion and tax collection amounts to about US$816 million. Direct employment in the oil sector will be small, while only a handful of private firms will get to do business with ExxonMobil’s subsidiaries, at least for the first decade. In this context, therefore, the entrepreneurial capacity of the State becomes most important. Hence, some experiences in state capitalism, both in terms of the historical successes and failures were explored. After synthesizing the literature, the paper examines some of barriers to entrepreneurship and effective state management in Guyana. Keywords: Economic growth, productivity, entrepreneurship, Caribbean enterprises, Guyanese enterprises

MONDAY, MAY 21, 2018. 09:45 h-18:00 h

09: 45 h – 10:45 h Roraima Room

Chair: Ms. Oslene Carrington, City University of New York, USA

Virtual Presentation – “Capital Markets Optimization in the Cooperative Republic of Guyana: Policy and Private Sector Recommendations”New York University Team Members: Mr. Sean Quinn Mr. Mohnish Zaveri Mr. Vikram Gulati Ms. Nashilu Mouen-Makoua Ms. Anila Madadeo

10:45 h – 12:00 h Paper I - Room 1

Moderator: Mr. Hugh Todd, Assistant Dean, SEBI, The University of Guyana

FACTORS SHAPING THE IMPACT OF TRANSACTION COSTS LINKED TO NON-TARIFF REGULATIONS ON EXPORTS FROM GUYANA: A FIRM-LEVEL ANALYSISMs. Dianna DaSilva-Glasgow, PhD Student, Sir Arthur Lewis Institute for Social and Economic Studies, The University of the West Indies, St. Augustine Campus, Trinidad and Tobago.

Abstract: Integrating elements of the Uppsala stages and global approach theories of internationalization, this study undertakes an empirical effort to explore factors shaping the impact of transaction costs associated with non-tariff regulations on Guyanese exporters of food and agricultural products. Data is obtained through a survey of 74 exporting firms and is analysed using one-way analysis of variance. The results suggest that the average level of education of employees, the year a firm started exporting, frequency of participation in discussions, who are the organizers of discussions on trade promotion, and the sector of activity are the key factors shaping the impact of transactions costs associated with regulations on export of food and agricultural products. The variables point to the importance of the firm’s own internal capabilities as well as the role of support institutions in shaping the burdens associated with compliance with regulations when exporting. This paper extrapolates three important policy implications for improving exporters’ capacity to comply with regulations. These are: firstly, consistent and targeted information dissemination; secondly, information exchange that sees active feedback by exporters; and thirdly, augmenting the capacity of agencies which provide critical support to exporters.Keywords: Transaction cost; trade; information exchange & dissemination; agency capacity.


10:45 h – 12:00 h Paper I - Room 1


SMALL BUSINESS SURVIVAL IN GUYANA: INSIGHTS AND IMPLICATIONSMr. Sukrishanall Pasha, Lecturer, The University of Guyana

Abstract:Small and medium-scale enterprises (SMEs) constitute most of the businesses in Guyana and are assumed to generate a significant share of employment and contribute to wealth creation. However, they operate in a less-than-auspicious business climate, and their failure rate is high. One of the perennial complaints of small business operators is lack of access to credit. Two of the reasons that financial intermediaries are reluctant to grant credit to SMEs are the perceived higher risk of failure and lack of adequate collateral. This study sought to identify the factors responsible for SMEs’ survival in Guyana using data collected from a country-wide survey which captured the profile of 380 SMEs and their founders. The Kaplan-Meier (KM) estimator and Cox Proportional Hazard Model (CPHM) were employed to calculate survivability of the SMEs based on the firm characteristics and the founder’s profile. We found that gender, location, and economic activity consistently explained the survival of these businesses. However, factors such as the age, experience and educational background of the owner, as well as the source of start-up funding, access to government procurement, legal form, and business strategy were found not to be significant determinants of SMEs’ survivability. Further, the significance of size as an essential determinant was inconclusive. Based on the estimates derived from our survival function, a prototypical credit risk calculator was developed to illustrate how a model can be constructed with non-financial data to quantify the risk of firm failure. We believe that the model could be further refined and used by practitioners to better screen prospective SME loan applicants and reduce some of the imperfect information barriers.

Keywords: Small business survival rates, Cox Proportional Hazard Model (CPHM), Guyana, credit risk in SMEs, risk calculator, Kaplan-Meier (KM) estimator.

MONDAY, MAY 21, 2018. 09:45 h-18:00 h

10:45 h – 12:00 h Paper I - Room 1


MARKET SIZE AND COPY CATS AS LIMITS TO ENTREPRENEURSHIPMr. Collin Constantine, PhD Student, Kingston University, London. Department of Economics; Penrhyn, Road, Kingston Upon Thames, Surrey KT1 2EE, UK.

Abstract: This paper proposes an alternative path to economic development in contrast to the market fundamentalism advocated by the Washington Consensus. When a small open economy lags behind the world technological frontier, a laizze faire environment produces too little entrepreneurship. Two constraints are of first-order importance. First, the small- ness of the economy limits the number and size of firms and this in turn anchors the rate of entrepreneurship. Second, since firms are technological laggards; they acquire knowledge through imitation—producing existing goods in the global hierarchy of commodities. But an entrepreneur does not know ex ante that a given product can be profitably produced in local conditions—this knowledge is sought in production—learning by doing. As an entrepreneur undertakes this risk, she also provides a useful service to competitors—the knowledge acquired through production cannot be patented. Thus, the market fails as the information externalities produce a pool of copy cats that undermine the profit share of the risk taker—producing in aggregate too little entrepreneurship. I argue that export promotion can overcome the limits of small markets and that enterprise policy can range from subsidizing the risk taker; to imposing limits on the number of market participants in a given industry.

Keywords: entrepreneurship, market failure, market size, information externalities.


MONDAY, MAY 21, 2018. 09:45 h-18:00 h

10:45 h – 12:00 h Paper II - Room 2

Moderator: Dr. Jacqueline Murray, Director, Institute of Distance and Continuing Education, The University of Guyana

DIASPORIC ENTREPRENEURSHIP, TRADE AND INVESTMENT IN THE CARIBBEANDr. Keith Nurse, Senior Fellow, Sir Arthur Lewis Institute of Social and Economic Studies, The University of the West Indies, Cave Hill Campus, Barbados; World Trade Organization Chair, University of the West Indies; Expert Member, UN Committee for Development Policy, Barbados

Abstract:Global migration and the growth of diaspora communities are increasingly important political, socio-cultural and identity formations that impact on contemporary globalization and options for developing country regions like the Caribbean. Many developing countries have seized the opportunities embodied in the growth of diasporas and have reaped significant rewards through strategic diaspora engagement programmes.This paper argues that tapping into the diasporic economy is the new frontier in global competitiveness, innovation and entrepreneurship. This paper examines the emigration and development nexus in relation to the growth of diasporic markets. The rationale is that international migration and the growth of diasporic communities create markets and facilitate entrepreneurship, trade and investment. Migrants, their families and communities tend to demand niche, specialty, identity and nostalgic goods, services and intellectual property that are often provided by firms and entrepreneurs from the sending countries or from the host societies (e.g. immigrant entrepreneurs). Drawing on the Caribbean context, the paper will assess the growth experience and evaluate the prospects for enterprise development given the sizable contribution that diasporic communities make in terms of financial transfers, trade, tourism, travel, telecommunications, new media and the creative economy. Keywords: Global migration; diaspora; immigrant entrepreneurs; enterprise development.

10:45 h – 12:00 h Paper II - Room 2


REMITTANCES, SOCIAL ISSUE RESOLUTION, AND NEW VENTURE CREATION Professor Leyland M. Lucas, Dean Designate, School of Entrepreneurship & Business Innovation, The University of Guyana

Abstract:Although individuals may migrate from their local communities in underdeveloped countries to developed countries, they still maintain their linkages through various media. Maintenance of these linkages continually exposes migrants to information about the challenges confronting their home communities. One way in which migrants often seek to address the challenges and assist their local communities is through financial remittances, which have played a critical role in supporting local economic activity in underdeveloped countries. However, relying on financial remittances as the basis for generating local economic activity is unsustainable. As migrants in more developed countries encounter economic problems, it affects their ability to remit financial resources to underdeveloped countries and the impact of the decline in available resources is also transferred to the underdeveloped economies. In this article, it is argued that we need to take a broader view of remittances to incorporate financial, organisational, and human capital. By so doing, we see that remittances can have a significant positive impact on resolving social issues and creating new sustainable economic opportunities.

Keywords: Remittances; human capital; sustainability; economic development.


10:45 h – 12:00 h Paper II - Room 2


A HIGH IMPACT JOB CREATION AND ECONOMIC GROWTH PROGRAM THROUGH ENLARGEMENT AND ENHANCEMENT OF THE MICRO AND SMALL BUSINESS SECTOR: BREAKING THROUGH THE BARRIERS TO SUSTAINABLE GROWTH AND PROSPERITYMr. Cosford A. Roberts, Organic Development Corporation LLC, Upper Marlboro, Maryland, USA

Abstract:Against the background of our history of slavery, indentureship and colonialism, Guyana find itself in a position where despite its numerous resources, there is still high unemployment, poverty and a growth rate that is at best sluggish. The young population does not now benefit from a vigorous youth program and government as the largest employer cannot provide employment for everyone. Sugar, bauxite and agriculture have been the industries upon which the economy depends. Gold production has grown very slowly and there is need to revisit the mining policy to encourage more of Guyana’s youth to invest their energies in this area. On the sociological side, the past 23 years have nurtured a rugged individualism and the diminishing of civility that impacts the quality of life in public spaces. And in that mix of economic hardship and cultural devaluation, Guyana needs to return to first principles of the core values that holds nations together in prosperity. We must therefore configure our economic development in such a manner that it engages both the possibilities of large enterprises, small business and micro enterprise. The formulation must be engaging and enabling; it must bring together agencies, strategic alliances, and supportive facilities such as financing, research, innovation, and training. The Arlington Business Center Report has shown that for every dollar invested in small business development, there was a return of $2.11. Now that Guyana is moving into a new era, we urgently need to configure our economic development strategy in a manner to grow business enterprises and to meaningfully engage the youth population. This paper suggests a number of initiatives that can be immediately pursued in the engagement of the unemployed at every level to permit the growth of the small and micro enterprise sector. It also identifies strategies that will support the effort.

Keywords: Economic development; small & micro enterprise; cultural devaluation.

MONDAY, MAY 21, 2018. 09:45 h-18:00 h

13:30 h – 14:30 h Paper VII Room 2


THE PRIVATE SECTOR AND ECONOMIC DEVELOPMENT IN GUYANAProf. George K. Danns, Professor of Sociology, University of North Georgia, USA

Abstract: This paper focuses on the role of the entrepreneur in promoting employment, economic growth and development in Guyana. Conventional approaches to economic development tend to emphasize more structural factors which either inhibit or promote such development. The role of the individual in the productive process is often not considered, nor is the retardation of the economy generally attributed to the attitudes and cultural values of its people and their leaders. In addition to land, labor and capital, economists commonly recognize entrepreneurship as a factor of production. Yet, there has been up until recently, an apparent aversion by economist and policy makers alike in Guyana and the rest of the region to treat entrepreneurs as a key variable in the development process. The private sector provides the institutional environment for the operations of entrepreneurs in a society. The private sector in Guyana has been historically dominated and marginalized by the state sector, the foreign private sector and the government. This paper argues, that as a consequence, and as currently constituted, the local private sector in Guyana is transactional rather than transformational, and is limited in its capabilities to engender sustainable development of the country. It further examines the emergent role of the Government of Guyana in actively promoting entrepreneurship both as a policy and a strategy for development in Guyana.

Keywords: Economic development; entrepreneurship; sectoral development; marginalization.


MONDAY, MAY 21, 2018. 09:45 h-18:00 h

10:45 h – 12:00 h Paper III – Roraima Room

Moderator: Ms. Tracy Alves, Academic Advisor, SEBI, The University of Guyana

WEOWN SPACE: A CO-WORKING SPACE FOR DEVELOPING ECONOMICS Mr. Eldon Marks, Co-Founder, weOwn space, Georgetown, Guyana. Ms. Chitra Dwarka, weOwn space, Georgetown, Guyana.

Abstract:The presence of shared workspaces or “coworking” spaces in societies, has been linked to increased entrepreneurialism, innovation, knowledge transfer, job creation, and accelerated economic growth [1]. Over eighty-five percent of the world’s coworking spaces exist in developed economies [6]. Underdeveloped economies, collectively house only fourteen percent of the world’s co-working spaces. The economics of implementing and operating a self-sustaining coworking space has been found to be the prohibitive factor which influences this statistic. This paper documents the weOwn space co-working model - the product of a fifteen month pilot execution of the conceptual model designed to balance self-sustainability and social impact in a developing economy. The launch of this coworking model was facilitated and self-funded by a partnership between two Guyanese founders, one local and one from the diaspora. The context of the study is Georgetown, Guyana, South America, which held a forty percent unemployment rate, a “developing” economic status and contained no operating coworking spaces at the inception of this study in May of 2016. The model was implemented and refined while in operation and its impact on the target audience of local entrepreneurs and professionals was assessed. The weOwn space model recorded its first profit in its eleventh month of operation and achieved self-sustainability in the Guyanese economy. It was found that the nature and the demand within the local technology industry, presented opportunities for effectively supplementing traditional revenue streams of the coworking space. In addition, enacting barter arrangements with coworking members further mitigated operating overheads without compromise.

Keywords: Coworking, sustainable, economic growth, developing economy, collaboration, shared office space, Guyana.



TOWARDS A NATIONAL CYBER SECURITY STRATEGY

Mr. Malcolm Williams, Director, eServices, Egovernment Agency and Lecturer II, Department of Computer Sciences, Faculty of Natural Sciences, The University of GuyanaMs. Sandra Khan, Former Head of Guyana CIRT (2013-2016) and Lecturer, Department of Computer Sciences, Faculty of Natural Sciences, The University of Guyana

Abstract:Towards a National Cyber Security Strategy, Guyanese businesses, organisations, Government Agencies and private citizens are already using the facilities afforded by the Internet to receive international orders and make payments online. Businesses, in particular, conducting large international financial transactions, are therefore unwittingly exposed to a global network of skilled cyber criminals. The experience of the Guyana National CIRT during the period August 2013 to August 2016 has shown that a percentage of local organisations have reported being scammed out of large sums of money by technologically advanced cyber criminals who managed to intercept their email communications. With the recent surge of interest in e-commerce locally and the Government initiatives to promote business and entrepreneurship, the volume of financial transactions conducted via the Internet can naturally be expected to increase. There is therefore need for a corresponding effort by Government and the business sector to enhance cybersecurity practices locally. Ensuring security and resilience in cyber space cannot be achieved by technological means alone. There is need for public / private partnership and the development of a local national response to this global challenge. This paper draws from the experience of the Guyana National CIRT (2013-2016) and the approaches being used internationally to address National Cyber Security concerns as a basis for recommending a national approach to this urgent problem

Keywords: Cyber security; business safety; technology; cyberspace.


MONDAY, MAY 21, 2018. 09:45 h-18:00 h



ECONOMIC TRANSFORMATION THROUGH DATA LITERACYMr. Leslie Lee Fook, Director and Co-founder of INCUS Services Limited, a leading Analytics & Cyber Security Consulting Firm, Trinidad and Tobago

Abstract: The importance of data in running an effective organisation and in gaining faster, deeper insight as a necessity has been unequivocally recognized. Now the question is, where are the data workers who can make this happen? This is what many businesses are asking themselves, making data literacy more in- demand than ever before.In 2016, LinkedIn listed Business Intelligence as one of the hottest skills to get persons hired in 2017. In 2017, we are seeing the advent of data analytics becoming a mandatory core competency for professionals of all types. Much like computer literacy in the 90s, competency in analytics is rapidly becoming a staple in the workplace. To meet this need, we will see analytics permeating education. In the workforce, people are seeking intuitive Business Intelligence platforms to drive decision-making at every level. With trusted and scalable platforms, organisations are empowering data-savvy persons who may not be tech-savvy, to utilize data and collaborate with their findings.

Keywords: Data literacy; business intelligence; data analytics; competency.

12:00 h – 13:00 h Roraima Room

KEYNOTE LUNCHEON ADDRESSIntroduction of Speaker: Mrs. Carol Webster, Chief Executive Officer, O Squared Consulting and Lecturer, SEBI, The University of Guyana

Keynote Speaker: Mr. Charles Ceres, Chief Executive Officer, Ground Structures Engineering Consultants Inc., Guyana


Panel Discussion - “Entrepreneurial Challenges in Indigenous Communities and Youth”Chair: Dr. David Singh, Executive Director, Conservation International Guyana

Panelists: Professor Donna Danns, Associate Professor of Economics, University of North Georgia, Mike Cottrell College of Business, Gainesville, GA. USAMs. Magda Wills, Executive Director, Specialists in Sustained Youth Development & Research Inc., Georgetown, Guyana. Mr. Robert Williams- Divisional Credit Manager, IPED.


Panel Discussion - “Safeguarding Innovations: Patenting and Legal Protections”Chair: Mrs. Carol Webster, Chief Executive Officer, O Squared Consulting and Lecturer, SEBI, The University of Guyana

Panelists: Professor Suresh Narine, Executive Director, Institute of Applied Science & Technology, Guyana Ms. Ayanna Young-Marshall, Attorney-at-Law, The University of the West Indies, Cave Hill Campus, Barbados


MONDAY, MAY 21, 2018. 09:45 h-18:00 h

15:30 h – 16:30 h Paper IV Room 1

Moderator: Ms. Caroline Ann English, Business Development Manager, Office of Strategic Initiatives, Vice-Chancellery, The University of Guyana

GENDER INEQUALITY AND ENTREPRENEURSHIPDr. J. Kalu Osiri, Director of International Business, University of Nebraska-Lincoln, USA.Mr. Uchechukwu Jarrett, Associate Professor, University of Nebraska-Lincoln, USAMs. Gloria Mwieseneza, University of Nebraska-Lincoln, USA.Ms. Donna Morrison, Lecturer, Faculty of Agriculture & Forestry, The University of Guyana.

Abstract: Entrepreneurship, in conjunction with other factors, has been lauded by scholars and practitioners as the economic engine of any nation. In a previous unpublished study, our group found gender inequality to be negatively related to levels of national innovativeness. The study, which was based on a cross-sectional secondary data pooled from 87 countries, was the first of its kind because it explored the relationship between gender inequality and national levels of innovation. However, a preliminary inquiry on the relationship between innovation and entrepreneurship indicates that the two (i.e., innovation and entrepreneurship) may be negatively related. For this reason, we seek to further our knowledge on gender inequality by investigating its association with entrepreneurship as an economic driver. Specifically, we propose to examine the complex relationship among national innovation capability and gender inequality, and how cultural values may moderate that relationship. We rely on secondary data from over 80 countries, including variables such as global innovation index, gender inequality index, and Hofstede’s cultural dimension. We deploy hierarchical multiple linear regression and correlation to test proposed hypotheses. Our proposed study focuses on three of Hofstede’s cultural dimensions, namely: uncertainty avoidance, power distance, and individualism. Thus, this research investigates the relationship between gender inequality and entrepreneurship and whether uncertainty avoidance, power distance, and individualism moderate this relationship.Keywords: Gender inequality; cultural index; innovativeness; cultural index.

15:30 h – 16:30 h Paper IV Room 1

Moderator: Ms. Caroline Ann English, Business Development Manager, Office of Strategic Initiatives, Vice-Chancellery, The University of Guyana

WOMEN EMPOWERMENT THROUGH ENTREPRENEURSHIPMs. Lyndell Danzie-Black, Manager, Cerulean Inc. Guyana

Abstract:Women are a significant part of the labour force in our economy and our growing impact cannot be pacified in the development agenda and debate. In this regard, the increase in women-owned businesses globally is becoming more and more evident as women stand up and take their place and position in society – the impetus to women empowerment. This has caused a keen awareness of the existence and rights of women individually and economically.We have heard it time and again that when you invest in women you invest in children, households, communities, villages, leaders and ultimately economic development of a country. Albeit true, but how many of us understand the challenges women face in business to sustain their families, communities and economies?

The traditional profile of a woman in business is a person who chanced upon a business idea based on economic changes personally or professionally; or those who have been displaced for one reason or another and decide to do the one thing that we women do well - we care, we help and we have a natural affinity to congregate.

Today, the paradigm is changing slowly as the female business student decides that a business venture is a good career option for her. Critical to her success is the effective utilization of business support systems, mentorship programs and gender-based capacity building programs.

We will examine some of the challenges women face in developing sustainable business in the Caribbean and more particularly, present workable simple solutions to address some of these challenges. The paper is based upon secondary data and observations and will make recommendations that hopefully will assist women, researchers, planners, policy makers and academics, who in one way or another contribute to the decision making machinery that impact the lives of women.Keywords: Empowerment; entrepreneurship; sustainable; economies; development.


MONDAY, MAY 21, 2018. 09:45 h-18:00 h

15:30 h – 16:30 h Paper IV Room 1

Moderator: Ms. Caroline Ann English, Business Development Manager, Office of Strategic Initiatives, Vice-Chancellery, The University of GuyanaRURAL WOMEN FARMERS AND SUSTAINABLE LIVELIHOODS: GUYANA’S OUTLOOK

Ms. Paulette Henry, Assistant Director, The University of Guyana, Berbice Campus Dr. Grayson Halley, Lecturer I, Department of Agriculture, The University of Guyana, Berbice CampusMrs. Jennifer Spencer, Administrator, Women Agro-Processors Development Network

Abstract:Broadly speaking, the early studies on rural women in agriculture legitimized the idea of women as productive partners in agriculture, discovering and documenting the various roles played by women as farmers, farm wives, agricultural professionals and recounting the stories of successful women in these roles. Research that began to appear in the 1980’s and continued in the 1990’s has expanded the discovery process to more areas of the world, applying increasingly sophisticated methodologies of the social sciences to the study of women’s roles and contributions to agriculture. This millennium promises continued expansion and refinement of our understanding of women in agriculture. According to the FAO, a focus on women’s participation in agriculture was a key factor in halving extreme poverty rates in East and South-East Asia since 2000. Women’s empowerment and the reduction in extreme poverty levels have a long way to go, making gender equity a major development objective. Fundamental among our discoveries in the present study has been the certainty that women farm, on their own in some cases or as partners in the work of family farms, performing essential household production tasks, as well as tending gardens, livestock, and assisting in the fields as needed. Despite the important roles they play in agricultural economies, empirical data from this study revealed that rural women in Guyana suffer from high illiteracy rates and are the most visible face of poverty. Moreover, data from the present study also showed that the majority of Guyana’s rural farm women are single parents and/or in unstable relationships. This phenomenon further hampers achievement of sustainable livelihood, since the women are left with the daunting responsibility of providing for their children, in many instances as many as 4 children. As a result of their great efforts in agricultural production, data from the present study further revealed that Guyana’s rural women farmers earn income that helps to guarantee their self-sustenance but this is still not enough however, to cover other needs, such as health care, paying for the education of their children or the acquisition of other products and goods which are necessary on a day-to-day basis, since they have a limited financial capacity caused by an inefficient supply chain and poor conservation of their surpluses. Keywords: Rural; agricultural production; women; empowerment

15:30 h – 16:30 h Paper IV Room 2

Moderator: Mr. Fitzgerald Yaw, Director, Office of Strategic Initiatives, Vice-Chancellery, The University of Guyana

INDUSTRY AND ACADEMIC COLLABORATION FOR INNOVATION IN THE NATURAL SCIENCES AT UG 2012-14, OCTOBER 2015Ms. Shameza David, Guyana National Youth Council

Abstract: This paper examines the extent of industry and academic collaboration for innovation in the Natural Sciences in Guyana during the period 2012-2014. The motivation for investigating this topic stemmed from the researcher’s interest in examining whether The University of Guyana is able to derive any commercial value from the organisational knowledge and skills it possesses. This is one of the tenets of knowledge management in Higher Educational Institutions (HEIs). After a thorough review of the literature, the researcher focused the study on the Faculty of Natural Sciences, since the literature indicates a higher level of university-led innovative activities in the sciences compared to other fields. The original design of the study was a census, intended to survey all academic staff in the Faculty; however, only 63% of the study population could be captured. The study utilized the Faculty’s Annual Reports, and an online survey to gather the data needed to fulfill the research objectives. Though not to the extent portrayed in the literature, the study found that researchers in the Faculty are contributing to industry innovation by developing processes, products and technology utilized in various industries. The factors affecting the Faculty’s collaboration with industry include the lack of structures to govern such collaboration, funding, poor facilities and poor marketing of the Faculty’s expertise to industry.

Keywords: Sciences; knowledge; innovation; industry collaboration.


MONDAY, MAY 21, 2018. 09:45 h-18:00 h

15:30 h – 16:30 h Paper V Room 2


WASTE MANAGEMENT SOLUTIONS FOR A SUSTAINABLE FUTUREMr. Yonnick K.E. David, International Relations Student, The University of Guyana

Abstract: The World is faced with a number of issues, both current and emerging. As the populations increase we are faced with land shortage issues, as more space is needed for communities to be developed. Agricultural land is therefore reduced, how we feed the citizens of the world will be a major hurdle to overcome in the coming years.Population growth also means an increase in the amount of waste being disposed. It is the innovative mind of entrepreneurs that will develop innovative solutions for these issues in the future. Sustainable and and new farming methods will ensure that people are fed for many years to come. Guyana is poised to not only feed the region but to keep them hydrated as well. And innovative engineering and some financial risk taking by entrepreneurs with the support of government can see solutions to proper waste management that can eliminate the need for unsanitary landfills and also provide energy to some residents of the Country. My focus today will be on sustainable waste management and how it can generate revenue for those involved.

Keywords: Innovation; sustainability; population density; waste management.

15:30 h – 16:30 h Paper V Room 2


BIO-ETHANOL VIA FERMENTATION: A BRIGHT PERSPECTIVE FOR THE GUYANESE ECONOMYProfessor Raymond Jagessar, Department of Chemistry, Faculty of Natural Sciences, The University of Guyana.

Abstract: There is an urgent need to reduce the emission of greenhouse gases in order to curb global warming. One strategy is to reduce the dependence on fossil fuels such as gasoline or diesel fuels, as they produce significant amount of CO2 on combustion. One alternative is to use ethanol produced via fermentation of sugar-rich sources. Ethanol can be combined with gasoline to produce gas-alcohol of varying composition. Such an innovative venture, as is seen in countries like Brazil, can lessen the dependence on the use of gasoline to power automobiles and thus help Guyana save a significant amount of dollars on the importation of fossil fuels, thus contributing to the upward growth or mobility of Guyana’s economy. Ethanol is also one of the best tools to fight vehicular pollution. It is environmentally safe. It contains 35% oxygen that helps complete combustion of fuel and thus reduces harmful tailpipe emissions. It also reduces particulate emissions that pose a health hazard. Ethanol is also needed in significant amounts in the Pharmaceutical industries such as Guyana Pharmaceutical Corporation and other research labs such as those of The University of Guyana, the Institute of Applied Science and Technology, and medical laboratories across the country. Bioethanol production in Guyana, on an industrial scale, has commenced with the establishment of a bioethanol plant at Albion Estate. The production of ethanol can also benefit the sugar cane industry, whose molasses can be fermented to produce ethanol, in addition to the sugar cane juice. Every existing sugar cane estate should have a bioethanol plant. Such a venture would make our industry more diverse, viable and create more jobs. Bioethanol is thus a good prospect for the industrial and business sector and the country on the whole.

Keywords: Greenhouse gases, Bioethanol, gas alcohol, Guyana’s economy, Business sector.


MONDAY, MAY 21, 2018. 09:45 h-18:00 h

15:30 h – 16:30 h Paper V Room 2


EXIGENCY OF INFRASTRUCTURE FOR DEVELOPING HINTERLAND COMMUNITIES OF GUYANAMr. Nazim Baluch, Resource Mobilisation Advisor, Georgetown Chamber of Commerce and Industry and Research Fellow, Universiti Utara Malaysia Mr. Richard Rambarran, Executive Director, Georgetown Chamber of Commerce and Industry and Lecturer, Department of Economics, The University of Guyana

Abstract: Guyana’s hinterland regions possess immense potential: besides enormous agriculture prospects, there is untold mineral wealth to be exploited, a young and trainable population, and vast expanses of savannah lands to be tapped. However, lack of proper infrastructure impedes the development of these resource-rich regions and has rendered their population indigent. Infrastructure is the backbone of any country, generating jobs, improving the quality of life for the destitute and boosting green economic growth in a well-being economy supported by green energy. Such investment is essential to mitigating impoverishment. It warrants long-term investment in green infrastructure assets such as rural roads, tracks, bridges, irrigation schemes, water supplies, schools, health centres, and markets, supporting micro and SMEs enterprises. It will not only enable the local population to fulfill their basic needs and live a socially and economically productive life, but enable Guyana to improve its business environment and attain food security. This concept paper discusses the potential of Guyana’s resource-rich hinterland; critically examines the implications of lack of infrastructure in Guyana, citing case studies from literature; and proposes a “hub and spoke” model for 21st century infrastructure development - a network with multi-modal interchanges that are environmental friendly, innovative, flexible, and demand-responsive for services from small towns and villages. It envisages an integrated, safe, efficient and reliable transport network connecting regional capital hubs with Georgetown (master hub) via rail road, marine and air along info-structure: creating places for people; and providing local connectivity; and movement corridors that actively support ‘short supply chains’ alongside ‘conventional supply chains’.

Keywords: Hinterland, green infrastructure, food security, hub & spoke model, well-being economy.

15:30 h – 16:30 h Paper VI Roraima Room

Moderator: Mrs. Eulanie Ouseley-Torrezao, Head of Department, SEBI, The University of Guyana

ANDRAGOGICAL APPROACHES TO CURRICULUM, INSTRUCTION, AND ASSESSMENT IN ENTREPRENEURSHIP: STRATEGIES TO ENHANCE BEST PRACTICESDr. Terrence E. Simon, Adjunct Professor of Business Administration, Goodwin College, East Hartford CT. USA

Abstract:Entrepreneurship represents one of the conduits to employment creation and economic development in many economies. Both developed and developing countries have positive views on advances in entrepreneurship and its impact on ailing economies. Whereas entrepreneurial education seems to have gained traction in more advanced economies such as the U.S., UK, and Europe, the rest of the world lags behind at the infancy stage. In countries where entrepreneurship programmes exist at the infancy stage, the basis for teaching is theoretical with very little, if any, hands on, practical opportunities for learners. The debate persists as to whether entrepreneurship can be taught and whether classrooms are the best environment for nurturing entrepreneurs. Recent research has shown the positive impact of entrepreneurship education on the starting of new businesses. This paper presents an overview of some andragogical approaches to entrepreneurship education and the challenges faced by academia, industry practitioners and students as they navigate the murky waters of the evolving global business environment. Knowles model is used as the foundation for curriculum development and an analysis of the efficacy of instructional and assessment strategies for diverse generational groups. Finally, transformational and experiential learning theories are explored to illuminate some best practices in the teaching of entrepreneurship.

Keywords: andragogy, assessment, curriculum, entrepreneur, entrepreneurship, entrepreneurial education, experiential learning, generational groups, instruction, transformational learning.



Moderator: Mrs. Eulanie Ouseley-Torrezao, Head of Department, SEBI, The University of Guyana

CARIBBEAN STUDENTS’ EXPERIENCES AT ONE HBCU: IMPLICATIONS OF ACCULTURATION AND ADJUSTMENT FOR UNDERGRADUATE STUDENTSDr. Tandeca Gordon, Morehouse School of Medicine, Community Health and Preventive Medicine, Prevention Research Centre, Atlanta, G.A, USA

Abstract:Although international students make up an important part of the diversity on American college and university campuses, there is very little understanding of their college experiences. The number of international students in the United States has increased by 72% in fifteen years, from 514,723 in 1999-2000 to 886,052 in 2013-2014 (Farrugia & Bhandari, 2014). This number includes undergraduate and graduate students to colleges and universities throughout the world. This study focused on international students from the Caribbean and their perceptions surrounding their college experiences in the United States. Interviews were conducted with undergraduate students between the ages of 18 and 24 who self-identified as international students from the Caribbean (male and female). The data revealed that international students from the Caribbean played a key role in their own acculturation process. The students shared their interest in connecting with other international students as well as non-Caribbean students on their campus. In addition the findings supported previous literature indicating that students acculturate at different levels and adjust differently than their peers. The study brings more awareness about Caribbean students’ experiences and educational success to college administrators, academic advisors, directors, faculty, and staff as they seek to bridge the gap between Caribbean students and their American peers within U.S. colleges and universities. Keywords: Acculturation, Culture Shock, Caribbean students in U.S. colleges and universities, Caribbean students in HBCUs, Caribbean student’s experiences and international students on U.S. campuses.


Moderator: Mrs. Eulanie Ouseley-Torrezao, Head of Department, SEBI, The University of Guyana A CUSTOMER FOCUSED STRATEGY: AN IMPERATIVE FOR THE ENTREPRENEURIAL ORGANISATION

Abstract:There is general agreement that the ability of the contemporary organisation to survive the challenges brought about by globalization hinges on its ability to innovate, create, differentiate and provide value for money. Many organisations often use financial measures to assess the success or otherwise of their business. Such measurements provide management with information which is commonly used to identify whether goals and objectives have been met, to take corrective action where necessary and plan for the future. This paper argues that financial measures, while essential to the analysis of a business’s performance, do not permit the organisation to focus on the dimensions of importance to their customers and to identify gaps in their service/product bundle proactively. With the advent of oil and gas in Guyana, the environment of the entrepreneur will undoubtedly change. Competition which previously did not exist will reach the shores of Guyana and assail businesses. A business which once cornered its market will quite likely find itself in a position where its existence is threatened. Established and new entities will have to do things differently to retained and/or enter markets and compete effectively. This paper presents a Customer Focused Strategy as a means through which the Guyanese Entrepreneur could overcome challenges to their modus operandi and allow him/her to provide the kind and type of service required by customers. A framework from the Marketing literature guides the discussion and identifies the critical success factors and strategies which could enable the entrepreneurial organisation to survive, grow, improve profitability and provide value for money.

Keywords: Customer, customer focused strategy, entrepreneur, entrepreneurial organisation, value for money.

16:30 h – 16:45 h – COFFEE BREAK


Panel Discussion - “Innovation, ICT and Economic Change through Diaspora and Local Engagement”Chair: Dr. Andrew Boyle, Chief Executive Officer, EUREKA Medical Laboratory

Panelists: Mr. Rosh Khan, Chief Executive Officer, SocialRank Media, Guyana Honourable Catherine Hughes, Minister of Public Telecommunications, Guyana Mr. Eldon Marks, weOwn space, Georgetown, Guyana.

MONDAY, MAY 21, 2018. 09:45 h-18:00 h


TUESDAY, MAY 22, 2018. 09:45 h - 18:45 h9:45 h - 10:45 h Roraima Room

Panel Discussions - “The Oil and Gas Business vs. The Business of Oil and Gas”Chair: Prof. Leyland Lucas, Dean Designate, SEBI, The University of Guyana

Panelists: Mr. Edwin Callender, Attorney and Counsellor at Law, The Callender Law Firm, Houston, Texas, USADr. Denis Pieters, Director, Mid Atlantic Oil & Gas Inc., Texas, USA

10:45 h- 11:45 h Roraima Room

Panel Discussions - “Developing a Financial Sector to Support New Business Development”Chair: Mr. Richard Sammy, Managing Director, Republic Bank Inc., Guyana

Panelists: Mr. Asafa George, Chief Executive Officer, W&T George & Co., Guyana Ms. Gillian Edwards, Credit Guarantee Fund Manager, Small Business Bureau, GuyanaMs. Shaleeza Shaw, Head of Credit, Guyana Bank for Trade & Industry. Guyana

12:00 h- 13:30 h Roraima Room

KEYNOTE LUNCHEON ADDRESSIntroduction of Speaker: Ms. Sharon Roopchand-Edwards, Principle Academic Engagement Officer, The University GuyanaKeynote Speaker: Mr. Ramesh Persaud, Chief Executive Officer, Institute of Private Enterprise & Development (IPED)

13:30 h – 14:30 h Room 1

Business Plan Competition


Panel Discussion: “Green Energy Initiatives, Sustainability and Economic Development”

Chair: Ms. Dina Benn, Head of Department, Geography, Faculty of Earth and Environmental Sciences, The University of Guyana

Panelists:1. Mr. Pravinchandra Dave, Chief Executive Officer, Demerara Bank Ltd.2. Mr. Michael Gordon, Communications Officer, World Wildlife Fund Inc. 3. Ms. Ndibi Schwiers, Director, Department of Environment, Ministry of the Presidency



Moderator: Ms. Cassandra Karran, Academic Advisor, SEBI, The University of Guyana

YOUTH ENTREPRENEURSHIP: BEST PRACTICES FROM OTHER DEVELOPING COUNTRIESProfessor Donna Danns, Associate Professor of Economics, University of North Georgia, Mike Cottrell College of Business, Gainesville, GA. USA

Abstract: Youth entrepreneurship has been found to be an attractive and viable pathway for engendering innovation, job creation, personal fulfilment and economic growth in many developing regions around the world. Some regions have been embracing youth entrepreneurship strategies for over two decades. Perusal of such strategies have provided fertile grounds for identifying the factors that engender youth entrepreneurship success. This paper examines secondary data and other research from developing regions to identify the role of international agencies, governments, the private sector and community support in fostering youth entrepreneurship. It assesses the importance of entrepreneurial education; financial literacy and access to financial capital; and, existing cultural attitudes in creating youth entrepreneurial successes. “Best practices” from this global analysis of youth entrepreneurship are compared with, if not also applied to Guyana.

Keywords: Youth; employment creation; entrepreneurship; education.

TUESDAY, MAY 22, 2018. 09:45 h - 18:45 h13:30 h – 14:30 h Paper VII Room 2


STUDENT ENTREPRENEURIAL EMPOWERMENT DEVELOPMENT (SEED), UNIVERSITY OF THE WEST INDIES, CAVE HILL CAMPUS: A CASE STUDYMs. Ayanna Young-Marshall, Attorney-at-Law, The University of the West Indies, Cave Hill Campus, Barbados.

Abstract:SEED is a motivational entrepreneurship development programme and co-curricular course that fosters self-reliance, innovation and entrepreneurship among students. SEED’s ultimate goal is to expand employment choices so that instead of having to rely on jobs in the private and public sectors, graduates will start their own businesses. SEED uses non-conventional teaching methods, mentorship and a business plan competition as part of its innovative approach. This presentation will provide context, a description of SEED, objectives, primary activities, constraints, opportunities, impact, implications for implementation of a similar programme at The University of Guyana and concluding observations.

Keywords: Innovation; entrepreneurship; self-reliance; curriculum development.




A STUDY AND DEVELOPMENT OF AN AGRICULTURAL BUSINESS INCUBATOR MODEL AIMED AT IMPROVING THE SEAMLESS FLOW OF AGRICULTURAL STUDENTS FROM PRIMARY THROUGH TERTIARY EDUCATION AND JOB CREATION IN GUYANA

Dr. Patsy Francis, Lecturer II, Faculty of Agriculture and Forestry, The University of Guyana

Abstract:A team of scientists identified Lack of Skilled and Quality Human Resources as a key binding constraint to the development of Agriculture in the CARICOM region. This problem persists despite the fact that adequate numbers of young persons are trained each year at many levels to serve in this sector. This study evaluated the socio-economic environment which supports young persons who choose to study Agriculture and address the following:- Factors which directly influence the choice of careers made by young people who study Agriculture- Incubator models in Guyana, Jamaica and at the University of Tennessee Knoxville USA-The role of supporting organisations to the Agricultural sector- The study also proposes an Agricultural business incubator model aimed at improving the seamless flow of agricultural students from primary through tertiary education and job creation. The study indicated that the choice of Agriculture as a career, particularly as a young entrepreneur, is stymied by:- Lack of adequate financing and the high cost of financing agricultural enterprises- Lack of specific knowledge, particularly modern agricultural techniques and equipment- Stigma attached to manual labour associated with traditional agriculture- Inadequate marketing arrangements - Difficulties in land acquisition and ownership- Inadequate technical services e.g. soil testing and allied services- Inadequate policy support from Government and other allied institutions –

It is recommended that an agricultural incubator be established at The University of Guyana with linkages to the Guyana School of Agriculture using a mixed model incubator system. This will allow for new and emerging technologies as well as startup of businesses using existing technologies. A model incubator is proposed.

Keywords: Business incubator; agriculture; young entrepreneur.

TUESDAY, MAY 22, 2018. 09:45 h - 18:45 h



Panel Discussions - “Empowering Women and Underserved Communities through Entrepreneurship”Chair: Honourable Simona Broomes, Minister within the Ministry of Natural ResourcesPanelists: Dr. Maxine Parris-Aaron, Agricultural Health Specialists, Inter-American Institute for Cooperation on Agriculture, Guyana Ms. Annette Arjoon-Martins, Manager, Air Services LimitedMs. Deborah Austin, Branch Manager, IPED


Panel Discussions - “Teaching Entrepreneurship to Millennials in an Uncertain Environment”Chair: Prof. George Danns, Department of Sociology & Human Services, Faculty of Arts & Letters, University of North Georgia, Gainsville, GA, USAPanelists: Mr. Andrew Hicks, Lecturer, The University of Guyana Ms. Ayanna Young-Marshall, Attorney-at-Law, The University of the West Indies, Cave Hill Campus, Barbados

16:30 h - 16:45 h Coffee Break 16:45 h - 17:45 h Roraima Room

Panel Discussions - “Business Incubators for Youth Employment & Business Creation”Chair: Mr. Rosh Khan, Chief Executive Officer, SocialRank Media, GuyanaPanelists: Prof. Leyland M. Lucas, Dean Designate, SEBI, The University of Guyana Mr. Eric Philips, Lecturer, The University of GuyanaMs. Oslene Carrington, City University of New York


Closing Plenary

TUESDAY, MAY 22, 2018. 09:45 h - 18:45 h


INSTITUTIONAL PROFILE


The University of Guyana is Guyana’s sole national higher education institution. It was established in April 1963 with the following Mission: “To discover, generate, disseminate,

and apply knowledge of the highest standard for the service of the community, the nation, and of all mankind within an atmosphere of academic freedom that allows for free and critical enquiry.” It began its operations in October of the same year at Queens College, the nation’s premier secondary school, before moving to the Turkeyen Campus in 1970.

At first, programmes were confined to the Arts, Natural Sciences, and Social Sciences. A Faculty of Education was created in 1967, and this was followed by the Faculty of Technology in 1969, the Institute for Distance and Continuing Education (IDCE) in 1975, the Faculty of Agriculture in 1977, and the Faculty of Health Sciences in 1981, the latter as an outgrowth of Natural Sciences.

A Forestry Unit was established in 1987 and it subsequently became part of the Faculty of Agriculture, and in 2003 the Faculties of Arts and Education merged to become the School of Education and Humanities. Additionally, the turn of the millennium saw the formation of the Faculty of Earth and Environmental Sciences (FEES), born of the merger of the Geography Department and the Environmental Studies Unit. Also created were the Biodiversity Centre, which is pertinent to the activities pursued by SEES, the Faculty of Natural Sciences, and the Faculty of Agriculture and Forestry, and a Centre for Information Technology (CIT), which serves the entire university.

The University of Guyana expanded in 2000 with the addition of the Tain Campus in Berbice. In October 2016, as part of a broader reorganisation, which is discussed below, SEES was transformed into the Faculty of Earth and Environmental Studies, with a Dean,

rather than a Director, as academic and administrative head of the unit.

The University of Guyana now offers more than 100 under-graduate and graduate (post-graduate) programmes, including Agriculture, Creative Arts, Curriculum and Instruction, Economics, Education, Engineering, Environmental Studies, Forestry, Information Technology, Urban Planning and Management, Tourism Studies, Law, Medicine, Nursing and Optometry. The 2017-2018 academic year witnessed the introduction of several new undergraduate and graduate programmes, including ones in Psychology, Agro-technology and Business, Entrepreneurship, Supply Chain Management, and Visual Communications and Social Work. Several online programmes are available, as are extra-mural classes through the IDCE at four locations--in the city of Georgetown and the towns of Anna Regina, Essequibo, Region 2; Linden, Upper Demerara, Region 10; and New Amsterdam, Berbice, Region 6. The institution has a 2017 enrollment of just over 8,600 students from all 10 administrative regions and from 33 countries, and it has graduated more than 22,000 students, who have gone on to successful careers locally, regionally and internationally in all professional fields of endeavor. The University also is a major contributor to the public and private sectors and to the national economy.

The University of Guyana offers certificate, diploma, associate degree, undergraduate degree, graduate (post-graduate) degree, and professional degree programmes. These programmes are delivered through the following eight organisational units: seven Faculties and one School, each of which is headed by a Dean: Agriculture and Forestry; Earth and Environmental Sciences; Education and Humanities; Health Sciences, with a School of Medicine; Natural Sciences; Social Sciences; and Technology.

INSTITUTIONAL PROFILE


The newest unit, the School of Entrepreneurship and Business Innovation (SEBI), was established in June 2017. The 2016-2017 academic year also witnessed the launch of Turkeyen and Tain Talks as a bi-monthly series to facilitate conversations with the community on important national and international subjects, establishment of the Undergraduate Research Programme and the hosting of successful inaugural student research conferences at Turkeyen and Tain, and founding of The University of Guyana Press, as part of efforts to boost research and scholarship.

LEADERSHIP PROFILE

The University is governed by a Council, the policy-making body, which currently is chaired by a Chancellor supported by a Pro-Chancellor. Both positions are non-executive positions. The current Chancellor is Professor E. Nigel Harris, MD, former Vice-Chancellor of The University of the West Indies, and the Pro-Chancellor is Major General (Retd) Joseph G. Singh. The administrative and academic head of the University is the Vice- Chancellor and Principal, who is also an ex officio member of the Council. The current—and Tenth—Vice-Chancellor and Principal is Professor Ivelaw Lloyd Griffith, appointed in June 2016. The Council has two statutory committees; the Finance and General Purposes Committee, and the Appointments Committee. The other major organ of governance is the Academic Board, which is supported by two statutory entities, the Academic Policy and Planning Committee, and the Board of Graduate Studies. The Academic Board is presided over by the Vice-Chancellor and Principal. The Vice-Chancellor is aided by an executive team that includes Deputy Vice-Chancellors, a Registrar, a Bursar, and a Personnel Officer.

In August 2016 the Finance and General Purposes Committee (F&GPC), the second highest policy-making body after the Council, approved a proposal by Vice-Chancellor Griffith to comprehensively restructure the university’s leadership. The re-organisation plan aims to create greater levels of efficiency and effectiveness and set the stage for innovation in academic and non-academic areas. The changes, which became effective on October 1, 2016, entail having Professor Michael Scott, former Dean of the Faculty of Social Sciences, become Deputy Vice-Chancellor (DVC) of Academic Engagement. In addition to the Faculties within his portfolio, Professor Scott has oversight over several new units; two of them—a Centre for Excellence in Teaching and Learning and a School of Graduate Studies and Research—are being developed. The third unit is the Office of Undergraduate Research, which is

headed by mathematician Dr. Troy Thomas. The re-organisation also established the position of University Legal Counsel. The former Deputy Vice Chancellor of Academics, Dr. Barbara Reynolds, became DVC for Planning and International Engagement, a new entity intended to streamline the university’s planning and quality assurance operations and its international relationships, in an effort to create and strengthen resource, research, and other relationships with other universities and with international organisations. Professor Paloma Mohamed, a former Director for the Centre for Communication Studies and a former Dean of the Faculty of Social Sciences, assumed the newly created position of DVC of Philanthropy, Alumni and Civic Engagement (PACE), which has the mandate to enhance UG’s fund-raising, rebranding, alumni relationships, and public interchange, all of which are crucial to the University’s renaissance.

The Vice- Chancellor’s executive capability has been strengthened with the establishment of an Office of Strategic Initiatives in the Vice-Chancellery, headed by Dr. Fitzgerald Yaw, to undertake institutional strengthening, project management, and allied services. The Vice-Chancellor’s Cabinet, which constitutes his executive team, comprises the DVCs, Registrar, Bursar, Personnel Officer, Director of the Berbice Campus, the Director of the Office of Strategic Initiatives, and the Chief of Staff. When appointed the University Legal Counsel will become part of the Cabinet.

On assuming the Vice-Chancellorship, Professor Griffith launched Project Renaissance, which aims to rebuild UG’s educational and economic enterprise and enable it to become a consequential national and international educational stakeholder. The Project has four main pillars, called Imperatives. The first is Capital Investment, which involves human capital, physical capital, and brand capital. The second—Academic Enhancement—entails improving instructional credentials, curricula and andragogy, and introducing new educational programs and research to address national and regional business, civic, and overall development needs. The Economic Viability Imperative is the third pillar. It requires fortifying the major existing revenue streams—government subventions and tuition fees—but also expanding the revenue base, through alumni and corporate giving, grants, and merchandising. The fourth Imperative, Alumni Engagement, encompasses reaching out to graduates within and outside Guyana, celebrating their accomplishments, and inviting them to aid the continued pursuit of the university’s laudable mission and goals.


The School of Entrepreneurship and Business Innovation (SEBI) was launched on July 7, 2017. Armed with the advice of Hon. President David Granger and recognizing that The University of Guyana could, in a greater way, contribute to the economic transformation of Guyana, Vice Chancellor and Principal of The University of Guyana, Professor Ivelaw Griffith, undertook

a feasibility study on the establishment of a School of Entrepreneurship and Business Innovation. The study concluded, among other things that SEBI was needed to support institutional goals and their objectives.

The core mission of the School of Entrepreneurship and Business Innovation (SEBI) is to educate and develop entrepreneurial and innovative leaders and managers with the skills, competencies, predispositions and habits of mind to contribute to the social vitality and economic advancement of the nation and the global community.SEBI’s student philosophy is built around developing students with high standards of Professionalism, Academics, Character, Engagement and Services. Additionally, staff members provide academic advising, intervention, support services, and programming to students.Our programs will facilitate significant cross-discipline collaboration, allowing students in other areas to participate in classes and projects on agro-processing, healthcare management, creative arts management, and environmental management, just to name a few.The School offers undergraduate degrees with concentrations in accounting, entrepreneurship, finance, management, marketing and supply chain management. Master’s degree programs in entrepreneurship and supply chain management; general management and sustainable development; and a series of executive and professional short courses to fill skill gaps that may exist with entrepreneurs and business and government workers.

ABOUT SEBI


SPONSORS

Ministry of Education

SEBI INAUGURAL ENTRPRENEURSHIP CONFERENCE2018

www.uog.edu.gywww.entrepreneurshipconference.uog.edu.gy

www.sebi.uog.edu.gy

may 20- 22, 2018 at the ramada georgetown princess hotel … · 2018. 5. 14. · may 20- 22, 2018...

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