GIDC Young Innovators Challenge

GIDC Young Innovators Challenge

Create, Innovate, Collaborate

Registration Deadline

31st December 2017
@11.00 pm

Criteria

16-34 Years
Must be Grenadian

About the Challenge


Purpose 

The primary purpose of the Challenge is to promote innovation through entrepreneurship, provide seed funding to young Entrepreneurs with creative and innovative ideas and to enhance and foster a spirit of Entrepreneurship throughout Grenada, Carriacou and Petite Martinique.     

Target

The challenge will target young people between the ages of 16-34.

Sectors:

Young people can present ideas in the following sectors though not limited to:

ICT

Creative & Performing Arts

Tourism

Manufacturing

Agribusiness

Renewable Energy

Health & Wellness




Categories/Awards

Persons can register to participate in the following categories to which they can also win an award in that category once they have been a successful finalist:

Economic Innovation

The award in this category will be presented to the individual/team who develops an innovative solution geared to creating economic opportunities for themselves, their communities and country.

Social Innovation

This award will be presented to the individual/team who develops innovative solutions that create a positive social impact.

Environmental Innovation

This award will be presented to the individual/team who develops innovative solutions that addresses environmental Challenges.

Technological Innovation

This award will be presented to the individual/team who develops innovative solutions that modifies or promotes technological advancements.

Stages of Competition

The Challenge would be conducted over the following four (4) stages

Entry/Registration

Preliminary

Semi-Finals

Finals




Judging Criteria

Participants will be invited to register to participate in any of the categories mentioned above. Participants will be selected to move to the next round once they have satisfied all conditions stated in the Selection Criteria below.

Selection Criteria:       

Participants must be legal residents of Grenada betweeb the age range: 16-34

Concepts must have an Environmental, Socio economic, Technological focus

Projects must be primarily in the identified sectors though not limited to

Business summary must be fully completed

The business idea must be legally authorised to operate in Grenada

Post Challenge

The GIDC, through its Business Development Centre will provide entrepreneurial and business development services to assist participants to start and grow their business.



Awards

$ 10,000

Seed Funding

Other Attractive Prizes


The rules

Each judge and mentor will be guided by the following rules and would have to sign an agreement to abide by the rules.

Rules for Judges


  1. Judges will be experienced and possess the necessary skill sets to judge the different aspects of the business plan such as innovation, marketing, technology, human resources, management and finance and, other materials submitted by the participants.

  2. Judges agree to provide voluntary judging.

  3. Judges in the Semi-Final and Final phases will judge the ideas & presentations in keeping with the judging criteria.

  4. Judges will provide feedback to participants in the challenge throughout all stages of the competition so that improvements can be made 

  5. Each judge will determine their scores independently and will not hold discussions or share opinions with other judges to arrive at a decision.

  6. Judges agree to score participants completely and impartially based on the technical quality and presentation of the business model/business plan and the participant’s performance during the competition.

  7. Judges agree to confidentiality prior to judging the competition, and to abide by the GIDC-DIGICEL-YIC Rules and Terms of Reference established and published by GIDC. 

  8. Mentors cannot be judges. Mentors and judges may not represent the same institution or organization. If this is unavoidable or if there is a potential conflict of interest, they should remove themselves from judging the participant to which they are assigned.

  9. GIDC will appoint an Evaluation Committee to organise the work of the judges during the stages of the Innovation Challenge.  



Rules for Mentors


  1. All Participants would be assigned one or two mentors to work with.

  2. Mentors agree to mentor the selected participants on a voluntary basis and will not be paid by the participant competing in the Challenge nor the organisers of the event.

  3. Mentors can assist participants during the project preparation by answering questions, providing industry and technical expertise, helping with organizational strategies, editing business plans, evaluating presentations, and facilitating the networks necessary for long-term success of the project. 

  4. Mentors cannot be judges.

Mentors can meet with participants at GIDC or any other venue as approved by GIDC.



registration form

 

 

The Schedule

          December 11, 2017                 Registration deadline

          December 12-13, 2017            Host workshop

          December 15, 2017                 Elevator pitch

          December 28, 2017                 Hold meeting with mentors and mentees outlining rules of   engagement

          January 03-04, 2018              Host workshop on business plans

          January 22, 2018                    Deadline for submission of business plans

          February 12, 2018                   Technical assistance and business development support Provided

          February 15, 2018                   Coordinate & implement workshop for final pitch

          February 22, 2018                   Final pitch

          February 28, 2018                   Closing and Award ceremony