Durrant Pate/Contributor

Digital Global Marketing Limited (DGM) is launching two CreaTech entrepreneurial hubs, Enigma and Studio D and will be investing US$1.3 million (J$190 million) in the two ventures.

Funding is being arranged for the venture from a combination of shareholders’ equity, multilateral financing and bank debt. The co-working and production spaces will allow creatives, innovators and businesses to seamlessly navigate the journey from ideation to creation.

The venture will support and expand the creative and entrepreneurial ecosystems locally, positioning DGM as a cornerstone for developing the sectors.

DGM, which is a Caribbean-based, global media and technology agency specialising in interactive media advertising experiences, digital transformation, marketing, web and app development, data, and consulting is the communications and technology subsidiary of the Digital Global Group Inc.

The side-by-side commercial units, located centrally on Old Hope Road in St Andrew, span 2,000 square feet.

Helping start-ups and scaling SMEs

They will provide the atmosphere, connections, equipment and marketing needed to help start-ups and small and micro enterprises (SMEs) scale effectively and support the wider business and NGO communities through access to a top-tier production and content creation experience. Enigma will feature ergonomic furniture, and world-class equipment and technologies with an integrated approach to productivity and wellness, making it a unique offering. Enigma’s rentable ‘sleeper pods’ will be a first on the island.

Customers can book a nap, relax, sleep, and select the auditory mood, stimulating their creativity. Enigma is where entrepreneurs can ideate and co-work in a space that encourages a free flow of thinking and collaboration, making it ideal for think shops and networking. Its counterpart, Studio D will serve creatives, corporates and individuals alike.

It will provide state-of-the-art audio, video and still production capabilities, live streams, and a dedicated podcast studio. In addition, a custom mobile app and website will facilitate booking the spaces and seamless payments. The venture is fully aligned with the digital transformation thrust DGM and Kemal Brown, the founder & CEO and Forbes Business Council member, have long championed.

Capital for property acquisition

Two-thirds of the capital for this novel venture was used to acquire the properties. The remainder will be invested in equal parts, in building out the spaces to the vision specification, including architectural design, retrofitting, equipment, furniture with higher-level capabilities and salaries for the staff. The venture is expected to create 5-10 new jobs in its first year of operation.

For Brown, “the sector’s potential is vast for driving economic growth. We see these spaces as a natural extension of DGM’s twinned mandate of creating solutions for our customer base through marketing and technology services and helping Jamaica to achieve its Vision 2030 through adding capacity to the productive sector.”

This assertion is supported by the United Nations Conference on Trade and Development, which estimated that the creative economy is projected to reach a global valuation of US$985 billion by 2023 and could represent 10 per cent of global GDP before 2030, according to the think tank, G20 Insights.

Brown added, “the creative entrepreneurial economy, while burgeoning, remains relatively untapped locally, with no central collaborative iterative space with the requisite production capabilities to bring ideas to life.” Enigma seeks to fill this gap for the business and creative-tech communities. The concept is you ideate on the left (Enigma) and can immediately create on the right (Studio D). You can go from idea to reality in mere moments.”

This move by the award-winning marketing and technology agency will seek to assist the largely ‘informal’ creative community to formalise to scale and monetise their craft.

In conclusion, the DGM chief executive declared, “we are currently in discussions with potential partners that will be key to the venture’s expansion islandwide and to deepening the reach and impact of the spaces through training, grant funding, mentorship and venture capital investment through forming what we have termed Enigma Labs.”

Brown revealed that Enigma Labs is an accelerator but remained reticent on other details.