The EXIM Bank has been one of the strongest proponents for the development and structuring of Jamaica’s rich creative economy as a space where innovators can realize the true benefits from their creations and use their IP portfolio to raise capital or access financing. The Bank stands behind its conviction that the creative industries, as a non-traditional sector, has the strongest potential to contribute to Jamaica’s economic well being, if supported and exploited in the appropriate way.
It is with this vision and understanding that the Bank continues to support the Jamaica Intellectual Property Office (JIPO) and collaboratively, the umbrella organization for IP, the World Intellectual Property Organization (WIPO), in their quest to move the local industry forward. This has led to the Bank playing a major role as a leading sponsor of the WIPO/JIPO Regional Conference on Intellectual Property & Creative Industries which took place this year. This, along with other initiatives being supported by the Bank, is expected to serve as a catalyst for this development to take place.
Being cognizant of the tremendous potential of this industry as a significant growth stream for Jamaica’s export economy, the Bank has been steadfastly working to develop a policy framework to assist more members operating in the creative industries. This has led to a deepening of the Bank’s engagement with JIPO and other stakeholders to advance the programme of developing a system of valuing IP. This is expected to pave the way for IP to be used as collateral to facilitate the financing of local creators and other members in the industry. In commenting on this development, Lisa Bell said, “This is an important requirement to moving the industry forward as we recognize that traditional collateral may not be available and a very clear appreciation and understanding of the value of our client’s Intellectual Property, be it, Brand Name, Logo, Music Production, Art, Books, Software, Inventions et al, is critical to leveling the playing field”.