Innovation in Paradise: RTPark, TechBeach Retreat place startup spotlight on US Virgin Islands

RTPark, the economic development agency from the US Virgin Islands, and TechBeach Retreat, a network of summits that grants attendees access to a prestigious lineup of influential individuals and renowned tech brands, hosted its conference this past month on June 19-21, highlighting the increasing benefits the island provides to the innovative entrepreneurs of tomorrow.

According to a statement from the organization, benefits of the US Virgin Islands 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
• Site selection assistance, including office space for soft landings and rental space at below-market rates in sponsored industrial parks

The well regarded TechBeach Retreat conference brought over 60 international leaders to the island, including from Vonage, OpenAI, Entrepreneur Magazine and Google, with the event serving to further the US Virgin Islands’ innovation aspirations.

TechBeach Retreat was founded by Kirk Hamilton and Kyle Maloney, and also hosts events in Miami and Jamaica, in addition to other locations.

RTPark, led by Peter Chapman, invests in and furthers the growth of local entrepreneurs through programs such as its Idea Incubator and Accelerate VI Program, and played a key role in the hosting of the conference.

Said RTPark’s CEO Peter Chapman, “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.”

Added Governor Albert Bryan Jr., who had also spoken at the conference, “We are pleased to have found a way to put money back into the pockets of hard-working taxpayers.”