Tech Beach Retreat and RTPark look to advance US Virgin Islands as an innovation hub

Tech Beach Retreat (TBR), founded by Kirk Hamilton and Kyle Maloney and quickly becoming the region’s go-to platform for innovation, wrapped up its debut in the US Virgin Islands last month. Its first conference on the island served as an important step for the territory’s aim to become a center for the greater business and technology community.

UVI Research and Technology Park (RTPark), which is an economic development agency specializing in technology and knowledge-based business attraction, had invited TechBeach to support the island in its efforts, which culminated in more than 60 leaders across the globe attending its event on June 19th-21st.

TBR’s conferences are known for their curated audience-approach, as described by Kirk-Anthony Hamilton, the organization’s co-founder. Absent of hierarchy, barriers, and VIP sections, the conferences look to create an intimate space for collaboration amongst internationally recognized speakers and thought leaders. 

At the conference Hamilton noted that representatives from government, the private sector, academia, the media and, critically, “influencers who determine where capital goes”, were all present.

RTPark’s promotion of the event and platform provided evidence of the attractive benefits the island has to offer for business growth and innovation, as well as the breathtaking landscape, establishing the USVI as a first-choice business destination.

These benefits include a 90% reduction in corporate and personal income tax for qualifying income; 100% exemption on other taxes, including business property and gross receipt taxes; the use of US currency, courts, and flag protection; and site selection assistance, including office space for soft landings and rental space at below-market rates in sponsored industrial parks.

Said Peter Chapman, CEO of RTPark, “Conveniently located between the US and Latin America, USVI is cultivating a dynamic ecosystem for innovation by attracting investors, developing tech talent, and supporting entrepreneurs in healthcare, software, business agility, and other high-growth sectors.”

On a mission to build a sustainable innovation hub, RTPark invests in and furthers the growth of local entrepreneurs through two of its programs: its Idea Incubator and Accelerate VI Program.

These programs provide individuals on the island with ambitious tech ideas and a step-by-step framework for launching and growing their companies.

The focus on local development goes hand-in-hand with the organization’s core value proposition, which is to improve the quality of life for its community and surrounding parties. 

Governor Albert Bryan Jr. emphasized this, stating, “We are pleased to have found a way to put money back into the pockets of hard-working taxpayers.”

By continuing to attract startups, corporations, and investors from the US and the Caribbean, USVI and RTPark have made important strides towards positioning the island as a premier destination for innovation.

Speakers at TechBeach Retreat this past month included leaders from OpenAI, Vonage and Google, among others.

The highly regarded TechBeach Retreat served as a launchpad for these aspirations, showcasing the territory’s potential to attract global enterprises and cultivate a thriving tech ecosystem.

Featured photo of TechBeach Retreat Founders Kirk Hamilton and Kyle Maloney

This article includes a partner of an Espacio portfolio company