Sagicor Group Jamaica Renews Multi-Million Dollar Investment in Innovation Lab with UTech

J$125 million spent since inception

Kingston, Jamaica – Sagicor Group Jamaica (“Sagicor”) has signed a memorandum of understanding with the University of Technology, Jamaica (UTech), recommitting to the Sagicor–UTech Innovation Lab, based on the University’s Papine campus.

The renewal marks the continuation of a collaboration between industry and academia that began in 2020, aimed at nurturing technological innovation, mentorship, and research-driven development in Jamaica. Under the renewed agreement, Sagicor will invest J$25 million annually to fund the Lab’s operations, including personnel costs, equipment, and research activities.

At the MOU signing, President and CEO of Sagicor Group Jamaica, Christopher Zacca, described the initiative as a “living, evolving hub of possibility” that reflects the Group’s long-term vision for a more innovative and future-ready Jamaica. He said, “the Sagicor–UTech Innovation Lab was born out of a mutual desire to move beyond talk and into action—to create a space where bright minds could co-develop practical solutions to real-world financial and health challenges. We did not simply sign an agreement; we activated a platform.”

Since its inception in 2019, Sagicor has invested J$125 million into the initiative, demonstrating its deep commitment to driving innovation through education and strategic partnerships. This continues with the new MOU, with a commitment of about J$25 million dollars annually, over three years.

The Sagicor–UTech Innovation Lab has seen several high-impact outcomes:

Five (5) student interns evolving into full-fledged software developers and IT infrastructure specialist;

• Cutting-edge prototypes influencing internal digital tools at Sagicor;
• And a growing pipeline of research aligned with real-world health and financial challenges.

President of the University of Technology, Jamaica (UTech), Dr. Kevin Brown, expressed his appreciation for the longstanding partnership between Sagicor and UTech, noting its impact on students. He added, “This relationship has significantly benefited our students, and I look forward to the continued expansion of the innovation lab.”

The partnership over the years has also seen the execution of the Sagicor/UTech Innovation Challenge, with the 2025 staging ending in April. Annually, students design creative solutions, including those tackling health insurance accessibility and AI-powered financial literacy, showcasing the depth of talent and ingenuity emerging from the Lab.

“We look forward to more innovative and scalable solutions coming out of this partnership, which stands as an example of the critical approach we must take as a country to support our young people and help boost economic growth.”

As Sagicor and UTech enter this new phase of partnership, both institutions remain committed to scaling impact, empowering talent, and building a stronger innovation ecosystem in Jamaica.