Solutions
A Public-Private Partnership: Bridging the Gap for Financial Inclusion in Montego Bay
Problem
The vibrant city of Montego Bay, Jamaica, faced a multifaceted challenge stemming from the informal sector, particularly street vendors and artisans. Revenue leakage was a significant issue for the St. James Municipal Corporation due to the reliance on cash transactions. Furthermore, the lack of formal regulation led to operational inconsistencies and public health concerns. Vendors within this sector struggled with low income, limited market exposure, and the inability to compete with more established businesses. This situation also negatively impacted the visitor experience, as tourists often overlooked the craft markets due to their location and lack of digital payment options.
Solution
To address these challenges, Violet Palmer led the initiative, designing and managing the pilot program and bringing together key stakeholders including the ST James Municipal Corporation, Mastercard, National Commercial Bank, Jamaica Business Development Corporation and Tourism Product Development Company, the Tourism Enhancement Fund and Alt Catalyst Venture Studio. The core solution focused on financial inclusion and digital transformation, aiming to modernie the informal sector and improve the overall economic landscape of the city.
Outcomes
This innovative partnership is expected to yield significant benefits. Increased revenue generation for the municipality is anticipated, along with enhanced livelihoods for vendors through expanded customer bases, improved income streams, and the ability to build sustainable businesses. Moreover, the project aims to improve the visitor experience by making the craft markets more accessible and attractive to tourists. The initiative is also projected to reduce operational costs for both vendors and the municipality through streamlined processes and improved efficiency. Finally, this successful collaboration can serve as a model for future initiatives aimed at economic development and social impact, demonstrating the power of public-private partnerships in addressing complex urban challenges.
Tourism Innovation Incubator to Drive Tourism Innovation in Jamaica
Problem
The Tourism Enhancement Fund (TEF), dedicated to advancing the strategies of the Ministry of Tourism and its Agencies, sought to maximise investment potential for innovative tourism ventures in Jamaica. However, entrepreneurs often lacked the necessary skills and resources to develop their ideas into viable businesses and attract investors.
Solution
To address this challenge, Blackwall Consultants and Alt Catalyst Venture Studio developed a results-driven 6-week intensive investor readiness program modelled after the Design Thinking Framework. This program provided entrepreneurs with mentorship, guidance on investor criteria, and support in developing compelling pitches. Taneallea Feddis led key areas including customer development, Go-to-Market Strategy, website and logo design, and creative direction for branding and pitch decks. Services provided by Paul Bel Kay Consultants included training, mentorship, MVP development, preparation for investor due diligence, creative direction, event planning, and video production consultation.
Outcomes
A critical milestone achieved was the development and market validation of a prototype to demonstrate product viability for participating entrepreneurs. Furthermore, three of the nine entrepreneurs who participated delivered compelling pitches, recognised as the best the attendees had ever heard in a pitch event. This successful program demonstrates the effectiveness of a structured approach in empowering tourism entrepreneurs and fostering innovation within the Jamaican tourism sector.
Approach
At Paul Bel Kay, we uphold a meticulous methodology to ensure seamless project execution and transparent reporting throughout our engagements.
Our approach integrates industry best practices with tailored strategies to address the unique needs of each client.
The Integr8ted Blueprint, one of Paul Bel Kay's strategic frameworks, has been meticulously crafted from over a decade of international corporate experience, provides an ideal formula for driving growth and success. It offers a clear path to achieving objectives with confidence, ensuring that our clients receive expert consultation and clear roadmaps to navigate their strategic priorities effectively.
Design Thinking is a human-centered approach to innovation that emphasises empathy, creativity, and iterative problem-solving. By following this iterative process, we can ensure that our research and insights are grounded in real-world needs and preferences, leading to innovative and effective solutions.
Partners
His Worship Richard Vernon, Mayor of Montego Bay
"I am Richard Vernon, Mayor of Montego Bay. Ms. Violet Palmer has worked with the Mayor's Office and the St. James Municipal Corporation for almost a year as a key strategic consultant. During this time, she demonstrated great professionalism and commitment to her tasks and brought significant capacity to the conceptualisation of our projects and programme. Violet for the win!"
Naudia Crosskill, CEO of St. James Municipal Corporation
"It was an absolute pleasure working with me, Violet Palmer. Her expertise, professionalism, and dedication were exceptional. She brought valuable insights, deep understanding, and ensured we had the right information to succeed. Her communication skills and personal demeanour made the experience enjoyable. I highly recommend her for any consulting endeavours."
Wayne Beecher, Founder/CEO AltCatalyst
"Taneallea used a very interactive and collaborative approach and was able to represent our ideas in a graphical way with a deeper meaning than what meets the eye. I think our sponsors were impressed and delighted with the Summit and Challenge Lab. So thank you to the entire team."
About
Our team's international experience and exposure to the local Jamaican public sector allow us to incorporate best practices and innovative approaches into our recommendations. Additionally, our expertise in strategic planning, stakeholder engagement, and project implementation is well-suited to address the challenges and opportunities faced in today’s market.
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By choosing Paul Bel Kay Consultants, you can be confident that your project will be handled by a team of highly qualified and experienced professionals who are dedicated to delivering exceptional results.