PRESS RELEASE: Cane Bay Partners Congratulates RTPark Efforts to Leverage Innovation for Economic Growth in USV

Published Wednesday, October 16, 2019


Cane Bay Partners Congratulates RTPark Efforts to Leverage Innovation for Economic Growth in USVI

The Research and Technology Park of the University of the Virgin Islands is leading the territory toward economic growth, technological advancement and innovation, and on Monday Cane Bay Partners VI LLLP congratulated them on their efforts while pledging its support.

The RTPark’s ACCELERATE VI program, for instance, is supporting entrepreneurs and freelancers in the Virgin Islands with trainings, co-working infrastructure and other resources. This exciting 12-week business acceleration program will soon be housed on the first floor of the Cane Bay Partners’ Church Street office building, and CBP will be a sponsor of the program. The 2,300-square-foot space is slated to open in January and will house up to 30 people representing various early-stage businesses. It will feature high-speed Internet, office equipment, two conference rooms, four private meeting rooms and a shared co-working space.

“We’re so proud to be a sponsor of their programs and to provide the space to house their ACCELERATE VI program,” said Kirk Chewning, co-founder of Cane Bay Partners. “We’re thankful to Peter Chapman and his staff, the government and UVI, who have been so supportive of creating an environment ready for new industry, new business and new opportunities for the Virgin Islands.”

The RTPark’s recent Business Attraction Summit highlighted for prospective businesses how to leverage the advantages as well as overcome the challenges around doing business in the Virgin Islands. Chewning participated in a panel discussing resiliency following the 2017 hurricanes. He discussed how he and business partner David Johnson led a large-scale recovery effort that turned into a long-term charitable giving effort, Cane Bay Cares. The damage to their Church Street office led to CBP purchasing their downtown Christiansted office building, which facilitated the availability of the space that will now be used for ACCELERATE VI.

“We’re working hard to promote economic diversity in the Virgin Islands while supporting innovation and technological advancements, and we appreciate the support from established local businesses like Cane Bay Partners. The RTPark doesn’t live in a vacuum, so collaborating with our local business community is essential to promoting the strong economic ecosystem that we have in the territory” said Peter H. Chapman, UVI RTPark executive director. “Chewning’s talk during our Summit on resiliency was important for us to illustrate the best example of how to be a great corporate citizen, as well as maintaining business continuity and thriving in the wake of a hurricane.”

About UVI RTPark: The University of the Virgin Islands Research and Technology Park (RTPark) is a rapidly growing economic development program specializing in technology and knowledge-based business attraction, retention and expansion in the United States Virgin Islands (USVI). It is a partnership between the private sector, the government of the US Virgin Islands and the University of the Virgin Islands (UVI). Benefits include, but are not limited to attractive tax incentivesa research university partnership, special programs including our comprehensive entrepreneurship program, and living and working in the America’s island paradise in the Caribbean – the United States Virgin Islands. Our Mission is to establish the USVI as the premier business destination of choice for firms in knowledge and technology-intensive sectors. The RTPark is proud to be an instrumental part of diversifying the regional economy and growing the tech ecosystem in an area advantageously located between the mainland U.S. and Latin America.

Photo cutlines:

Cohort – Entrepreneurs and freelancers participating in the ACCELERATE VI program by the UVI RTPark have a training session in the Cane Bay Partners Church Street conference room.

Accelerator – The 2,300-square-foot, co-working space under the UVI RTPark’s ACCELERATE VI program will be housed on the first floor of the Cane Bay Partners VI, LLLP’s Christiansted office building and will support early stage businesses.

RTPark – Peter Chapman, executive director of the UVI RTPark, speaks during their recent Business Attraction Summit.

About Cane Bay Partners VI, LLLP

Cane Bay Partners VI, LLLP was formed in June 2009 and founded by internationally experienced business executives with many years of experience in the financial services industry. Focusing our efforts primarily in the financial services industry, our management consulting practice specializes in providing services to clients in need of sophisticated risk management models, debt collections organizations which require liquidation models and analytics, and portfolio management companies desiring a variety of services.  More specifically, our practice has elected to specialize in three areas where we believe our core competencies reside: (1) management consulting (2) risk management/scorecard development and (3) service provider analysis.


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Client Testimonials

There are many unique treasures to living here. I’ve discovered a passion for mountain biking. My children have learned to sail. With a small community, you get to know people quickly. We found they went out of their way to make us feel welcome. When considering the move, a top concern was the children’s education. We found a quality school our kids love, with a dedicated faculty. In fairness there is an adjustment period. You learn to navigate island life, master shipping logistics, get to know a new culture, and take in some of the most beautiful ocean views in the world.

David Thompson, Exigo

In January 2012 my business was underway as a Tech Park entity. It has been a wonderful seven years. The Tech Park has always been supportive, easy to do business with, and is making a positive impact on the islands. The Tech Park organization is professional and efficient. They have created a friendly business environment that has been a pleasure to work within and a great experience overall. I would encourage any eligible entity to consider joining us in the Tech Park.

Louise Stapleton, LNL Publishing

We have been part of the RT-Park program for almost three years now.  The application process was straight forward and we had plenty of dialogue and feedback prior to our approval.  My only regret is we didn’t do this sooner.  It is satisfying  knowing that we are partners with UVI and enabling the education of the next generation .  We also love living in the USVI.  People are warm and welcoming and the pace of life is amazing healthy.  Most days it feels like a working vacation.

Andy Hemmert, President , HRMT, LLC

Our firm, The RainTree Group, came into the UVI RT Park program in 2018.  We didn't have much experience in the USVI and followed the advice of the wonderful RT Park staff and other RT Park tenants.  The application process was transparent and straightforward.   The simple concept of the Park is mutual benefit - your company gets some tax incentives that allows you to grow your business more quickly and the USVI and UVI gets additional tax base, employment opportunities, and scholarships for deserving students.  The business environment and life in the USVI is slower paces and less stressful as the mainland, and without question the biggest business hurdle is communications, so find an office location where you have investigated the broadband options. Come and join us, you won't regret it!

James Salter, VosCom dba The RainTree Group