Venture Capital Fund Next Fiscal Year

first_img The agreement sees the IDB providing some $14 million in grant financing The Development Bank of Jamaica (DBJ) is to launch a venture capital fund within the first half of the next fiscal year, which begins April 1, 2014.This initiative forms part of the Jamaica Venture Capital Programme (JVCP), which is being implemented over three years in collaboration with the Inter-American Development Bank (IDB).The JVCP is a Government of Jamaica (GoJ) initiative, aimed at developing the environment to mobilise long-term equity funding to enable greater access to alternative financing sources for high potential, small and medium size (SME) enterprises, and entrepreneurs.Making the announcement at a Venture Capital Conference held at the Jamaica Pegasus hotel in New Kingston on September 9, Minister of Finance and Planning, Dr. the Hon. Peter Phillips, pointed out that the venture capital fund, and the efforts involved in making it a reality, “assume a central place in the policy perspectives of this administration”.He said this move is important as it takes place within the context of the Economic Reform Programme and an Extended Fund Facility (EFF) agreement with the International Monetary Fund (IMF), which has, as its centre-piece, the reduction in the levels of public debt.“It takes place against the background where we recognise that there are many factors that impede the development of the MSME sector. There is a high degree of informalisation, inadequate knowledge of modern business procedures, the difficulties of accessing financing, problems of high energy costs, and some of these will require government interventions in other ways and policy interventions to help solve them, but it is in this context that the DBJ with its mandate to facilitate economic growth, has reached out in very significant ways to place emphasis on that sector,” Dr. Phillips stated.Chairman of the DBJ, Joseph Matalon, said DBJ views the availability of venture capital as one solution to address the issue of lack of access to long-term financing required by high potential SMEs, as well as innovative start ups.“We recognise that there continues to be a persistent gap when it comes to longer term SME financing…within the next 12 months, it is our intention to provide seed funding to a newly established venture capital fund or funds, but we also wanted to ensure sustainability, and our main objective, is to therefore lay the proper foundation for a vibrant and sustainable venture capital and private equity industry that is driven by the private sector,” he explained.For her part, Country Representative, IDB, Therese Turner-Jones, informed that a consultant “will be looking at the system which is necessary to make venture capital a reality in Jamaica”.“We see this as an excellent opportunity to enable small enterprises in Jamaica to have more durable, sustainable, long-term access to finance, and in such a way that we create a fund and opportunities for venture capitals to really thrive in Jamaica in the future,” she stated.The implementation of the programme is as a result of a technical co-operation agreement signed by the DBJ and the IDB in February this year.The agreement sees the IDB providing some $14 million (approximately US$150,000) in grant financing under its Multilateral Investment Fund (MIF) facility, with the DBJ putting up counterpart funding totalling $12 million (approximately US$128,000).The one-day conference is being held under the theme: ‘Advancing Innovation and Entrepreneurship – Seeding Tomorrow’s Opportunities’. DBJ to launch a venture capital fund by April 1, 2014. Story Highlights This initiative forms part of the Jamaica Venture Capital Programme (JVCP)last_img read more

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Leaked dongle hints at end of the headphone jack on Galaxy Note

first_imgA leaked adapter signals the possible end of the headphone jack on the Galaxy Note 10.  Roland Quandt The headphone jack on phones had a good run, but like all good things, it eventually must end. That end seems to have finally arrived with Samsung’s upcoming Galaxy Note 10 line. After being one of the last holdouts against the trend of ditching the headphone jack, it appears that Samsung is going to do just that for the Note 10 line. In leaked images shared Thursday by Roland Quandt and SamMobile, it seems pretty clear Samsung is planning a 3.5mm headphone jack to USB-C dongle for its new Note 10 and 10 Plus.  Aug 31 • iPhone 11, Apple Watch 5 and more: The final rumors Apple • Share your voice Samsung Galaxy Note 10 (Plus) #donglelife pic.twitter.com/FmXsMkvF9h— Roland Quandt (@rquandt) August 1, 2019 Aug 31 • Your phone screen is gross. Here’s how to clean it Comments See All Phones 7 Aug 31 • Verizon vs AT&T vs T-Mobile vs Sprint: Choose the best 5G carrier The dongle itself looks like, well, a headphone adapter no different than what Apple makes for its iPhones or Google makes for its Pixels. But it signals the end of an era, showing that Samsung may indeed be planning to move on without the port going forward. It is unclear if Samsung will include the dongle in the box (like Google) or charge separately for it (like Apple). That answer, as well as Samsung’s heavily rumored and leaked next flagships, will likely need to wait until Samsung’s Unpacked event on Aug. 7. Samsung didn’t immediately respond to a request for comment.  reading • Leaked dongle hints at end of the headphone jack on Galaxy Note 10 Tags Aug 31 • iPhone XR vs. iPhone 8 Plus: Which iPhone should you buy? Rumors Google Samsung Applelast_img read more

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DSP BlackRock Liquidity Fund assets reach Rs 10895 crore by September

first_imgDSP BlackRock Investment Managers Private Limited, a joint venture between India’s DSP Group and American investment corporation BlackRock, said that its assets under management (AUMs) under liquid funds stood at Rs. 10,895 crore as of Sept. 30, 2016, with an average AUM of Rs.10,463 crore for the month. “We now manage/ advise Rs. 67,645 crore of assets across debt, equity and alternate investment products,” it said in an update on Oct. 5, 2016.DSP BlackRock Investment Managers, headed by Hemendra Kothari, is one of the 44 mutual fund houses in India and had Rs. 49,421 crore worth of assets under management (AUMs) across 31 schemes as of August 31, 2016.Investments into equity schemes and equity-linked savings schemes (ELSS) of mutual funds more than almost tripled to a year-high of Rs. 6,505 crore in August, the fifth straight month of growth.Total assets under management (AUMs) of 44 mutual funds of India stood at Rs. 15.63 lakh crore as of August 31, 2016.Statistics released by the industry body Association of Mutual Funds in India (Amfi) showed that inflows into equity and ELSS have remained positive in the past 28 months, except March 2016.”Consistent inflows over the past 28 months (except for a small outflow in March 2016) clubbed with mark-to-market gains pushed up the category’s assets to a new high of Rs 4.67 trillion (Rs.4,67,000 crore) up 3.7 percent, in August,” CRISIL Research had said in a note.last_img read more

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Resist fast food cravings with a game

first_imgThe game is designed to improve a person’s “inhibitory control,” the part of the brain that stops you from giving into unhealthy cravings – even when the smell of French fries is practically begging you to step inside a fast food restaurant.The mobile app intelligently detects patterns in a person’s eating habits. When users are likely to slip from their dietary plans, the app provides tailored strategies to put them back on track.“Millions of people are trying to lose weight, and they are going about it in a reasonable way – by trying to reduce calories. But you’re going to slip from your diet plan. That pretty much happens to everyone,” said Evan Forman, Professor of Psychology in the College of Arts and Sciences. Also Read – ‘Playing Jojo was emotionally exhausting’“You could say the secret of helping people actually lose weight is preventing these lapses, so we concentrated on how to best do that,” Forman noted.In a study, published in the journal Appetite, Forman and a team of researchers tested the theory that that if you do certain tasks that involve inhibitory control over and over again, it actually gets stronger.Habitual snack food eaters were assigned to one of four short, training exercises designed to increase their mindful decision-making and strengthen their inhibitory control. The study concluded that both types of training were successful in reducing snack food eating.The researchers are now seeking participants for two studies to test whether playing the computer game and the mobile app can strengthen inhibitory control of the participants and help them stick to their diet plan, a university statement said.last_img read more

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