The lack of support for Fijian entrepreneurs is holding back their ability to turn ideas into viable businesses.

This, according to Deputy Prime Minister and Minister for Industries, Commerce, Business Development and Public Enterprises Manoa Kamikamica.

Kamikamica says Fiji has no shortage of talent, creativity or problem-solving ability.

He made the comments at the opening of the Fiji Innovation Hub at the Reserve Bank of Fiji.

“It is about opening doors to founders or entrepreneurs who may be carrying the next big breakthrough in a business concept to opportunities that will help shape the future economy.”

Kamikamica said the Hub was intended to bridge that gap by giving entrepreneurs access to mentors, investors, training and networks.

He said technology can also help Fijian start-ups reach markets in Sydney, Auckland, Singapore and San Francisco.

The Government’s role, according to the Minister, is to remove barriers, strengthen digital infrastructure, promote financial inclusion and create policies that encourage innovation.

The Hub has supported training, capacity development and two hackathons over the past year.

Entrepreneurs from across the country, including Matuku and Rotuma, have taken part.

European Union Ambassador to the Pacific Barbara Plinkert said the Hub can provide the support, networks and confidence entrepreneurs need to turn ambition into action.

She said the Hub is more than a physical space. It is a place where ideas can grow into businesses and innovation can respond to real needs.

More than 16 entrepreneurs have already been supported through the Hub’s programmes.

Two innovators, Third Rock and Sol, are preparing to present their ideas internationally.

The Reserve Bank of Fiji has also approved three solutions from the Hub’s Activator Programme for sandbox testing.

Plinkert said this shows innovation and regulation can move forward together.

She said bringing entrepreneurs, regulators, investors, industry leaders, development partners and policymakers together can turn ideas into practical solutions.

The European Union is supporting the initiative through the Pacific Digital Economy Program, alongside Australia and New Zealand, and implemented by UNCDF.

Plinkert said the EU is contributing close to $20 million over the 2022 to 2026 period to support innovation, digital and financial literacy, consumer protection and inclusive digital services across the Pacific.

The Hub has been established through a partnership led by the Reserve Bank of Fiji, with support from development partners, private companies and government agencies.