Caribbean Innovation Competition (CIC)
The Caribbean Innovation Competition (CIC) is an international support programme and business start-up accelerator for entrepreneurs in the Caribbean. Organized by the Young Americas Business Trust (YABT), in collaboration with regional and national partners, the CIC helps transform intellectual ideas into profitable business models through the commercialization of Intellectual Entrepreneurial Assets (IEAs).
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. 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, visibility and promotion opportunities.
The program relies on a collaborative, regional support network of national partner institutions and stakeholders that have been supporting the CIC efforts from its beginning. This network is confirmed by over 150 collaborators that include Governments, National Ministries, NGO’s, private and public sector institutions, universities and young people in the countries participating.
Teams must present a project plan, following the CIC template that includes:
- A business plan/project
- A market study
- Online presence: website, Facebook page or blog that could showcase the product/service via the internet
- A graphical presentation, either a video, promotional slide show or collage of at least three pictures that demonstrates the innovation of the product or service.
CIC participants and finalists benefit from the program through of access to:
- Business network
- Content and knowledge
- Development markets
- Finance sources and angel investors
- International visibility and recognition
- Mentors and technical support
The CIC winning team will receive the following award package:
- Cash seed funding capital for $5,000 USD
- One trophy will be presented to the winning Team as the recipient of the CIC Award.
- A Certificate will be presented to each registered Team member of the winning teamas the recipient of the CIC Award.
- Other networking and leadership opportunities will be presented to the winning participants by rendering them eligible to showcase their business in future YABT and international events, follow-up mentoring, training, and promotional activities.
- Priority to participate at YABT’s events and be nominated to other international expos, conferences, symposium.
- Six-month follow up through YABT’s Nex Links Centers
- A project plan
- A market study
- A video or a promotional slideshow or collage of at least three pictures that demonstrate the innovation of the product or service
- A Facebook page or blog or website that showcase the product/service via the internet