With most of the world explored and exploited Cuba may yet be a new uncharted frontier for media and tech careerists.
Cuba may yet be the greatest opportunity for this millennium so far with digital expansion one of the priorities.
Seems like everyone wants to get “into the act” including the Rolling Stones offering a free concert (pushed back for 5 days due to the President’s visit).
Cuba Broadband Internet Access is Top Priority
In one of Obama’s first speeches after his arrival he emphasized the importance of broadband when he stated that “expanding Internet access for Cubans is key to changing the country”.
But the rush is on…Google has announced that it will be providing WiFi and Broadband access in Cuba, Western Union is expanding operations and AirBNB has announced that it will be opening up all its Cuba listings on April 2nd.
According to the Associated Press, Google’s Chief Internet Evangelist, Vin Cerf, spent more than an hour talking to an audience of Communications Ministry officials and recent computer science graduates at the 2016 International Computer Science Fair, a government-run symposium on information technology and communications.
If there was ever an opportunity to get in on the “ground floor” this is it. With 42,000 square miles, its location only 198 miles from Miami (lots of trade opportunities) and about 11 million people with over 60 years of pent up demand for US goods and services Cuba would appear to be a gold mine waiting to be drilled.
So where is the opportunity for job seekers? For starters Google will most likely be hiring some local employees and Americans willing to move to Cuba could be on the top of their list.
AirBNB will surely want to sign up as many homes as possible and to assure that they are not signing up shoddy homes some local employees would seem to be in order.
So what other companies could have Cuba on their radar?
The first ones that come to mind are the phone companies, Verizon, Sprint, T‑Mobile and a host of smaller MVNOs will most likely crop up. They will all need local employees.
Could Cuba become the Next Start Up Accelerator?
In March of 2014 Cuba’s government passed a new law of Foreign Investment and is looking for $8 billion dollars of foreign investment. Given Google’s and AirBNB’s early involvement this could inspire other tech companies to move in for opportunity. Perhaps Cuba’s government could extract investments from the new players to fund a new start up community.
Given the push for internet access the Cuban government may yet see the value in offering a business and tax friendly environment for tech startups.
Communist Cuba’s Laws May Need to Be Changed
But they may not be there yet, Cuban holding companies must retain control and majority ownership. However in time the Cuban government my yet figure out the value of loosening up their laws to provide a greater incentive for foreign investment.
In What you Should Know about Doing Business in Cuba, Mike Periu, who has been studying Cuba for more then a decade talks about some of the factors one needs to consider before doing business; a harsh business climate, limited consumer purchasing power and lackluster demand as some of the cautions.
But as we all know those that choose to blaze the trails first must learn how to navigate through the mud. To those that start early there may be a lot of early pain but as they say at the gym “no pain equals no gain”