US$100M capital fund for Guyanese entrepreneurs launched

first_img…Govt urged to liberate Guyanese of “digital constipation”Guyanese entrepreneurs will soon have the opportunity to access financing as a Guyana-born businessman and telecommunications expert, Mike Singh on Saturday launched a US$100 million venture capital fund at the 2018 Digital Wealth Creation Summit.Telkom Caribe Group Chairman and CEO Mike SinghSingh, who was one of the featured speakers at the event held at the Marriott, which saw the attendance of hundreds of persons, said that many brilliant ideas died because very often borrowers did not have the collateral to access loans.While declaring that sometimes banks “kill entrepreneurship”, Singh, the Chairman and Chief Executive Officer (CEO) of Telkom Caribe Group, a telecommunications company based in Miami, Florida, announced the setting up of this fund to the applause of a receptive audience of mostly young people.Singh, whose business has offices in Abu Dhabi and South Africa, was critical of Government’s efforts to promote and capitalise on the use of modern digital technology. He shared with the audience how surprised and shocked he was that almost the entire hinterland region was without Internet.The Indigenous people of Guyana account for 12 per cent of the total population, and they should demand from Government that they too are connected, he said. “If I were them, I would have hold whoever is in power and say that ‘don’t fix the net, we not voting for you’. They are Guyanese too and they are being left behind,” he told a cheering audience on Saturday.Speaking of his experience of working and travelling to different countries around the world, Singh said even Afghanistan in the midst of war had Internet service, but the Kaieteur National Park had “literally no Internet there”.A section of the gathering at the Digital Wealth Creation Summit held over the weekendThe businessman and philanthropist said for the coastal region, the bandwidth was also poor and stated that it must be improved in order for Guyana to reap the full benefits of digital wealth. “What we need is fibre. We don’t need 50 megawatts, we need one gigabyte,” he asserted.Singh continued, “Because you cannot fuel innovation and wealth creation in the country in the Internet age unless you have bandwidth. Bandwidth helps to fuel intellectual capital growth and innovation. Your competition is not here in Guyana, but some man from India, or Shanghai.”While declaring that many jobs would be replaced with technology in the near future, Singh said before Guyana could begin to create Internet wealth and Business Process Outsourcing (BPO) companies, “we need to solve the bandwidth quagmire and liberate the people of this country from the digital constipation they are forced to live with”.Intellectual capitalAnother important topic Singh touched on was the need to safeguard intellectual capital of locals. The businessman is of the strong opinion that the laws in relation to this are sadly inadequate. He has advised that policy decision makers have more discussions around this with the aim of trying to set a stage for this to take effect in Guyana. This area, he claimed, has the potential to create massive wealth.Singh also raised concerns over the country’s reluctance to embrace fully the new Internet Protocol version 6 (IPv6). This most recent version of the Internet Protocol (IP), the communications protocol that provides an identification and location system for computers on networks and routes traffic across the Internet, is already being used in many countries, especially those in the developed world.The Summit, which was hosted for the second year, was aimed especially for entrepreneurs (whether veteran or aspiring); service professionals; students; or anyone who has a burning dream and desire to do what they love and to relentlessly pursue their dreams.Some of the speakers and presenters included: Dr Rosh Khan, the brain behind the event who is the CEO of the Masterclass Institute and SocialRankMedia as well as the local franchise holder/lead consultant of FranklinCovey; Public Telecommunications Minister Cathy Hughes; Gabriel Abed, the founder of Bitt.com, a Barbados-based blockchain startup; Ramesh Persaud, the CEO of the Institute of Private Enterprise Development (IPED); Valrie Grant, founder and Managing Director of GeotechVision, and Samantha Sheoprasad –a 2017 recipient of the Queen’s Young Leaders Award.last_img read more

NORTH WEST 10K TO BE BIGGEST YET AS CHARITIES REVEALED

first_imgThe North West 10k sponsored by Donegal Daily and Brian McCormick Sports was launched this eveningThe organisers of the North West 10K say they are hopeful this year’s event will be the biggest and best to date.This year’s three main charities were announced this evening and they are – the Donegal Mountain Rescue Service, Friends of Letterkenny General Hospital and SNAP (Special Needs Accessible Playpark).Donegal Daily is one of the two main sponsors of this year’s event which organisers hope will attract up to 3,000 runners and walkers in Letterkenny on May 5th next. To date the magnificent efforts of the North West 10K event have aided 27 local charities to the tune of more than €614,000.Grace Boyle, chairperson of the event, said a great deal of planning has gone into this year’s event yet again.“We are hopeful it will be even bigger and better this year. We had 2,600 participants last year and we are hoping it could be up to 3,000 this year,” she told Donegal Daily.“We had a very high standard of charity applying for funding and we had some terrific interviews. “We could only pick three main charities but we are hoping to help as many others as possible.“They will have their own sponsorship cards and they will be able to fundraise for themselves.“We will help them but we will ask them to help us,” she said.Sponsorship cards for the event will be available from the Letterkenny Chamber of Commerce soon to ensure as much money as possible is raised for all the charities.The cost of entry is €10 for walkers and €15 for runners. The other major sponsor on the day is Brian McCormick Sports while there are also a number of smaller sponsors for the event.Further details on the event will be carried on Donegal Daily in the weeks leading up to the big day on May 5th.All you need to do now is to get out walking and reach a level of fitness you are happy with to get around the 10k course.Chairperson Grace Boyle said the aim of the NW 10K was to get people out and getting fit. “With 3,000 people on the streets of Letterkenny it would not be possible without al the agencies and we have a big responsibility.“It’s a great event and I don’t think there’s anything to touch it. We’re in hard times but so many people come in behind the North West 10K,” she said.Ms Boyle aslo paid a special tribute to the Letterkenny Community Centre for their contribution and their commitment at the centre.Spokespeople on behalf of the charities including Joe Brennan from the Donegal Mountain Rescue, Samantha Robinson on behalf of SNAP and Peter Cutliffe on behalf of the Friends of Letterkenny Hospital outlined their aims and thanks the NW 10K committee for choosing them.An appeal was also put out for 50 stewards to volunteer on the day and help marshall the course along the other services.Mayor of Letterkenny Dessie Larkin said the event has come on a long way and it will soon be past the one million euro mark of money raised over the years.“It’s a wonderful day that is dominated by the families. As a council we are engaging with people to see how we can get them out of their homes and their cars and get healthy.“We are about to spend €80,000 on lineage and signage and cycle lanes. The three charities are also wonderfully deserving charities and need no introduction but it is vital they are supported,” he said.Donegal Mayor of Letterkenny Frank McBrearty finished the night by saying the three charities speak for themselves.“All these charities are wonderfully deserving of the help of the North West 10K and it is fitting that we get behind them,” he said.“The fact that we have 3,000 people participating speaks volumes. These events help communities to come together and when that happens these events can be very, very powerful.“I have seen a lot of positives since I became the Mayor of Donegal but without people behind the scenes these events would not work,” he said.NORTH WEST 10K TO BE BIGGEST YET AS CHARITIES REVEALED was last modified: March 6th, 2013 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:Brian McCormick SportsDonegal DailyNORTH WEST 10K TO BE BIGGEST YET AS CHARITIES REVEALEDlast_img read more