About UB IGNITE
The Bahamas experienced major economic shocks in the last four years, Hurricane Dorian in 2019 and COVID-19 to name a few. These put considerable pressure on business operations, livelihoods as well as public finances.
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The COVID-19 has revealed the severity and complexity of the country’s economic problems and has created the largest negative impact in The Bahamas among IDB Caribbean member countries; and Hurricane Dorian caused losses and damages in excess of $3.4 billion, which have hampered growth and innovation. UB IGNITE aims to enhance entrepreneurship and innovation, create, and strengthen innovation ventures, create more employment and income opportunities in The Bahamas as well as contribute to the digital transformation across productive sectors of the economy.
UB North entered a partnership with IDB Lab for initial funding of $500,000 that will be matched by the University through cash, in-kind and corporate partners.