As part of their operating agreements, firms establish legally binding partnership commitments with the University of the Virgin Islands (UVI). Over the years these have ranged over several categories and include the provision of student engagement and workplace learning opportunities, scholarships, graduate employment, faculty engagement, IT services provision, operational assistance, endowments, participation in a Distinguished Lecture Series, and involvement in various other special projects. Among the multiple economic contributions of the program, this direct contribution serves to build a workforce pipeline and to facilitate skills development of, and knowledge exchange by, the future labor force of the Territory.
The current structure of the RTPark client agreements allow for each RTPark company to have partnerships with the University of the Virgin Islands in two distinct ways: a) annual scholarships and b) specific programmatic commitments determined through discussions with the President of the University OR a contribution towards the UVI Innovation Fund.
UVI Innovation Fund contributions are used to support University projects identified through the Strategic Plan. Project ideas are developed by a planning taskforce and are approved by the UVI Board of Trustees. Approved ideas are put in place throughout the duration of the strategic plan. Companies are invited to review the Strategic Plan and associated projects and request the direction of their funds towards a project appropriate to their interest and/or expertise.