Due to low economies of scale and high production costs, the Caribbean's primary drivers of growth – agriculture, and tourism – have stagnated. Effective ways to monetize knowledge and intangible assets (IEAs) through improved intellectual property (IP) commercialization have the potential to seize more income prospects for these Caribbean enterprises. This focus on intangible assets is prompted by increasing economic literature in the last few decades that posit that intangibles are often unaccounted for or not fully mobilized as economic factors. The most notable of these studies was the paper by Corrado, Hulten, and Sichel, which noted a gap of trillions of dollars in the US economy when intangible assets were accounted for. The same model for developing nations has shown similar though less accentuated results. But the trend is unambiguous, as evidenced by the secular increased proportion of trade in intangible goods in contrast with physical goods.

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The Caribbean Regional Entrepreneurial Asset Commercialization Hub (REACH) was envisioned by TIV leadership as a CARICOM facility to foster an entrepreneurship and startup center and monetize IP in the Caribbean. The concept was financed by IADB under the very competitive Regional Public Goods (RPG) initiative. The most substantial activity of REACH was the “Design, Development and Implementation of a Pipeline of Innovative and Sustainable Ventures in the Caribbean. Under this activity, TIV’s experts scouted for, evaluated, supported, and mentored several high-value, competitive ventures to make them bankable.

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Since its inception, the REACH program has served as a fertile ground for startups and small businesses in the Caribbean, fostering the development of entrepreneurs. The highlight of the REACH project involved a “Shark Tank”-style pitching contest, with the participation of the short-listed firms. The judging panel included the likes of prominent international investment bankers, such as Alan Beard of Interlink Capital and the US Commerce Department’s Trade Finance Advisory Council, and a star of England’s Dragon’s Den. The competition concluded with a selection of winners, who received cash prizes and were enrolled in a mentorship program.