Youth encouraged to participate in innovation contest

Over 30 young people from Barbados got the opportunity to develop their entrepreneurial skills to aid them in preparation for the Caribbean Inno vation Challenge.

Valerie Lorena of the Young Americas Business Trust (YABT) has noted that the Caribbean Innovation Challenge (CIC) is an international entrepreneurship competition and business start-up accelerator for young people in the CARICOM Member and Associate States.  

The Caribbean Innovation Challenge was officially launched last week Tuesday at the FORO MIC conference, which was held at the Barbados Hilton Hotel.

“The CIC differentiates itself from other existing business model competitions by incorporating ‘before and after’ stages focusing on training and mentoring as preparation for the competition, and providing follow-up services that include access to finance, networking activities, internships and promotion opportunities, among others,” she noted.

Lorena explained that the CIC will consist of about two phases: 1) the “online semi-Finals” where teams will have to complete a concept paper, a business model, a prototype test, a Facebook group or blog, and a collage of promotional photos, videos or graphical presentations and; 2) “on-site finals” where teams that qualify will make their pitch in person to the judges present at the CIC Award competition.  

The finalists will also have the opportunity to showcase and promote their products or services at an international event that will include representatives from the private and public sectors, international and local organisations, financial institutions, among others.

Award challenges to be presented include “Best Social Entrepreneurs”, to be given to the team that develops an innovative project or idea that results in a positive social impact on others; “Best Economic Entrepre neurs”, to be presented to the team that creates a sustainable business opportunity for themselves or other people; and “Best Environmental Entrepre neurs”, to be presented to the team that develops an innovative project or idea that helps to solving environmental challenges.

Participants will have until December 2012 to get their entries in. 

More information can be gathered by visiting www.youthin-cic.net. (RSM)