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RFP: Caribbean Innovation Challenge- UNDP project Youth Innovation (Youth-IN)

The “Caribbean Innovation Challenge”

The Caribbean Innovation Challenge (CIC) is an international entrepreneur competition and business start-up accelerator for young people in the CARICOM Member and Associate States. Awarding projects in three categories (Social, Economic and Environmental), the CIC promotes innovation, the development of entrepreneurial initiatives, and taps into the potential of young people to generate ideas that benefit their societies and communities.

The CIC is a component of the UNDP project Youth Innovation (Youth-IN): A Caribbean Network for Youth Development, which responds to the needs of youth identified in the report of the CARICOM Youth Commission (2010): ‘Eye on the Future: Investing in YOUTH NOW for Tomorrow’s Community‘. 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 – which are key support services for young entrepreneurs.

Objective
Promote youth entrepreneurship with the launch and institutionalization of the “Caribbean Innovation Challenge”. The objective will be achieved while promoting: i) Coordination among stakeholders; ii) An innovative public/private sector alliance; and iii) An ecosystem for young entrepreneurs.

Implementation strategy
Promotion of capacity building for youth and mobilization of partners around the “Caribbean Innovation Challenge”. The challenge is a sub-regional competition that encourages young entrepreneur innovation and provides hands on support for youth to start up a business. The challenge will be a process built with partners and will create an ecosystem for young entrepreneurs.

YOUTH-IN ENTREPRENEURSHIP
A partnership between UNDP Barbados and the OECS and YABT, Youth-IN Entrepreneurship, promotes innovation and youth entrepreneurship, in coordination with public/private alliances and stakeholders, generating a favorable ecosystem for the development of young entrepreneurs in the Caribbean.

 

I. Introduction

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.

The CIC has two phases:

1. Online Semi-Finals: Teams 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.

2. On-site Finals: Teams that qualify for the On-site Finals 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 organizations, financial institutions, among others.

The Finals will be held in Bridgetown, Barbados, in April, 2013.

 

I. Award Categories

At the time of registration, Teams will establish their eligibility to participate for the CIC according to the criteria for the CIC Awards, as follows:

  • Best Social Entrepreneurs
    Presented to the team that develops an innovative project or idea that results in a positive social impact on others.
  • Best Economic Entrepreneurs
    Presented to the team that creates a sustainable business opportunity for themselves or other people.
  • Best Environmental Entrepreneurs
    Presented to the team that develops an innovative project or idea that contributes to solving environmental challenges.

Teams must present a project plan following the the CIC template that includes:

  • A concept paper
  • A market study.
  • A project plan
  • A Website, Facebook page or blog that could showcase the product/service through the internet.
  • A promotional slide show or collage of at least three pictures that demonstrates the innovation of the product or service.
  • Teams registering for the CIC Awards must be citizens or legal residents of the country they are representing and be legally authorized to start and operate a business in that country. International Teams may compete.

Note: Times, deliverables and terms of participation may vary for each of the awards, so we recommend you read carefully and by separate the requirements for each,

Projects and enterprises will be evaluated according to the award category for which they have registered to compete. For references please visit the Evaluation Criteria section.

III. Teams

  • The CIC Teams may be comprised by a minimum of one and a maximum of ten members, whom have to allocate one of the following roles:

 

  • Chief Executive Officer.
  • Chief Financial Officer.
  • Chief Technical Officer.

Note: If is just one member, this will be considered the CEO

  • All Team members must be between 16 and 29 years of age by 11:59 PM, December 31, 2012. Proof of age will be required for Finalists.
  • Any entrepreneur (under the age of 29) may enter regardless of their level of education.
  • A Team with multinational Teams will be considered to be from the country where the CEO is a citizen or permanent resident.
  • Since much of the competition and communication is through the Internet, the Team should have adequate access to the Internet during the competition to ensure full participation.
  • YABT Staff, National Chapters, Officials, Board of Directors and sponsors, as well as their immediate family members are not eligible to participate.

 

For full details, visit: http://www.youthin-cic.net

I

Introduction

II

Award Categories

III

Teams

IV

Languages

V

Judges

VI

Mentors

VII

Deliverables / Activities by Teams

VIII

About the Finals

IX

Activities during the Finals

X

Prizes

XI

Awards

XII

2012-2013 Timetable

XIII

Outline of Project Plan

XIV

Judging Criteria and Scoring

XV

General Terms and Conditions

 



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