Sagicor, UTech to collaborate on Innovation Lab
Sagicor Group Jamaica (SGJ) and one of the leading tertiary institutions in region, the University of Technology, Jamaica (UTech, Jamaica) have signed a memorandum of understanding (MoU), which will see the educational institution and financial conglomerate collaborating to develop the Sagicor Innovation Lab (Sagicor i-Lab) on the university’s St Andrew-based campus.
At the official signing of the MoU on Wednesday, July 31 at UTech, Jamaica, president and CEO, SGJ, Christopher Zacca, who signed the MoU on behalf of SGJ, in his remarks noted that he is extremely excited about the partnership with UTech, Jamaica and is looking forward to the future projects that will be developed at the Sagicor i-Lab; adding that it is his dream that the projects that will be developed in the lab could one day lead to the formation of the Google of Jamaica.
“Innovation is a key part of Sagicor’s long-term strategic vision and this partnership with UTech, Jamaica, a premier financial institution in the Caribbean region, will only serve to strengthen our efforts in research and development on financial technology platforms,” Zacca said.
President of UTech, Jamaica, Professor Stephen Vasciannie, who signed the MOU on behalf of the university, also expressed his enthusiasm for the Sagicor i-Lab; noting that “In the developed countries, universities have been the catalyst behind research and innovation leading to development and wealth creation…Stanford University, for example, has been a fertile breeding ground for breakthrough technology, which spawned the likes of Hewlett-Packard and Google.”
“We thank Mr Zacca and the Sagicor Group leadership for the confidence placed in our university to execute the terms of this collaboration. I assure you that you have come to the right place in pursuit of research for development and innovation,” Professor Vasciannie said.
The MoU is for an initial period of five years and will see the two entities collaborating and sharing joint information on information, communication and Technology (ICT) services to include: integration of resources to support research and development on financial technology; collaborative research projects and technology initiatives; staff and student development and training, and resource sharing on emerging ICT; provide internship/industry experience opportunities for students and staff; public education (eg organisation of seminars, workshops, public lectures and conferences) and joint publications.