Voices April - September 2023

10th Joan Duncan Memorial Lecture Spotlights Entrepreneurial Opportunities in Jamaica’s Entertainment Industry Ibrahim 'IB' Konteh (centre), CEO, IB Enterprises and Director of IBE Limited who delivered the 10th Joan Duncan Memorial Lecture, shares lens time with (l-r) Mr. Prince Graham-Haynes, Acting Head, Joan Duncan School of Entrepreneurship, Ethics and Leadership (JDSEEL), College of Business and Management, UTech, Jamaica, Mr. George Davis, Executive Director, Nationwide News Network, Prof. Colin Gyles, CD, Acting President, UTech, Jamaica and Mrs. Kim Mair, Executive Director, JMMB Joan Duncan Foundation. n expert analysis of current opportunities, existing challenges, and recommendations to boost entrepreneurial growth in Jamaica’s entertainment sector, took centerstage at the 10th Joan Duncan Memorial Lecture hosted by University of Technology, Jamaica in partnership with the Joan Duncan Foundation, which was broadcast live on TVJ on Sunday, May 21, 2023. This year’s lecture titled ‘Party Done? Entrepreneurial Opportunities in the Entertainment Industry,' was delivered by Ibrahim 'IB' Konteh, CEO, IB Enterprises and Director of IBE Limited. Known for his work as a creative powerhouse and conceptualizer behind popular entertainment events such as Strictly 2K - Throwback Music Festival and Afro Soca Jam, IB shared his personal journey as an entrepreneur, marketer and author which has taken him to his current position as owner of five event brands servicing five international markets in Jamaica, Atlanta, New York, Florida, Washington DC and Canada. 10 18 April- September 2023 | VOICES Bi- Monthly Magazine of the University of Technology, Jamaica A The seasoned entertainment entrepreneur cited current challenges in the industry, chief of which he described as “the lack of organization and informality of the entertainment sector.” He lamented that many players, such as suppliers of goods and services, refuse to register their businesses and are reluctant to sign or are unaccustomed to using formal contracts, which carry inherent risks. IB pointed also to the challenges of securing sponsorships, even for well established brands, in addition to the difficult process of accessing funding from financial institutions. He also related the experience of the hurdles due to the additional bureaucracy involving the variation in rules and regulations in each municipality and the various payment agencies a party promoter is required to visit, such as Jamaica Music Society (JAMMS) and Jamaica Association of Composers, Authors and Publisher (JACAP). “Take for example, when you’re having an event, if you’re applying for a permit, the different municipality, whether Kingston or Portmore, St. Ann and so forth, they have different requirements,” he stated.