CIC competition well received

Close to 500 teams from across the Caribbean are taking part in the Caribbean Innovation Challenge (CIC) competition, the international entrepreneurship competition and business start-up accelerator for young people in CARICOM Member States and Affiliate Members.

Of these entrants, says Akarda Ventour, Programme Officer for the Caribbean with the Young Americas Business Trust (YABT), 98 are from Jamaica, 68 are from Trinidad and Tobago, 38 from Haiti and 32 from Barbados. She made the disclosure recently during a press conference at the Office of the Organisation of American States (OAS), while also indicating that the budding entrepreneurs have undertaken projects in a variety of areas including fashion, jewellery making, agriculture, food and bio-diversity.

In addition, the CIC is an initiative that is made possible through the collaborative work of the United Nations Development Programme (UNDP) Subregional Office for Barbados and the OECS and the YABT, and has five components, including – an established first edition CIC Competition; a reinforced and expanded outreach communication and promotion campaign; a consolidated and committed regional CIC support system for the development of young entrepreneurs and the development of an entrepreneurs road map.

Speaking specifically to the competition, Ventour explained that through the initiative young people are provided with the tools, training, skills and opportunities for the development of entrepreneurial ventures.

The competition, she said, is open to persons between the ages of 16 to 29 years.

“The CIC differentiates itself from other existing business model competitions, by implementing a before and after stage... It focuses on training and mentoring as preparation for the competition and provides follow-up services that includes access to financing, networking activities, internship and promotion activities,” she said.

The Programme Officer indicated that the finals of the competition and the awards ceremony will take place next month April 25-26, where from among the 20 finalists, six winners will be chosen from the three categories – social, economic and environmental projects.

Each awardee she further revealed, will receive a cash prize of US $5 000, follow-up services and a trophy; and will also have the opportunity to participate in the hemispheric competition TIC Americas 2013. (JRT)