Are you seeking funds for your tuition and other academic materials? If yes! hurry now and apply for the 2024 Caribbean Innovation Competition.
The CIC has supported the creation of 1182 business proposals in 20 countries involving 1373 entrepreneurs.
Participants and finalists benefit from the program through access to Business networks, Content & knowledge, Development markets, Finance sources & angel investors, and many others.
Therefore, this post will briefly describe the Caribbean Innovation Competition, the basic tips on applying, and link you with the application form.
So, to get the most out of this publication, ensure you read it carefully.
Table of contents
About Caribbean Innovation Competition
The Caribbean Innovation Competition(CIC) started in 2012 as a part of the Youth-in-Initiative of the United Nations Development Program (UNDP) Barbados and the OECS.
Since its creation, the Young Americas Business Trust (YABT) has designed and implemented it. This International organization promotes young people’s economic and social development through entrepreneurship, innovation, leadership, and active participation.
YABT collaborates with the Organization of American States (OAS) registered as a 501 c 3 non-profit in the District of Columbia.
The CIC follows the hemispheric model of the Talent and Innovation Competition of the Americas (TIC Americas), created in 2007 and operating annually.
In 2015, in partnership with the Inter-American Development Bank (IDB) and The University of the West Indies, the CIC operated as part of the Caribbean Regional Entrepreneurial Asset Commercialization Hub (REACH).
What Is Caribbean Innovation Competition Benefits?
The participants will benefit from the following;
- If you make it to the finalist teams, you will receive a full scholarship to participate in the TIC Americas/CIC finals.
- The scholarship includes a round-trip flight ticket, travel insurance, hotel accommodation, full meals, and local transportation.
- You will also have access to, training, mentorships, and networking sessions with YABT’s partners, which include multinational and government representatives, international media, investors, and a wide network of entrepreneurs in the Western Hemisphere.
Benefits for the winner at the Finals of TIC Americas 2024 include;
- A US$5,000 prize is awarded to the winners;
- Winning teams shall consider this award as seed capital for their businesses or initiatives. The winners are responsible for all the taxes, financial fees, and any other commission related to the disbursement of Funds.
- Every winner team receives one trophy, certificate, and other opportunities to be nominated as a Winning Team of TIC Americas, i.e., participation at International Events of the YABT/OAS, PepsiCo, and other partners’ events and conferences.
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Who Is Eligible For The Caribbean Innovation Competition?
To qualify for this scholarship, you must meet the following requirements.
- The CIC Teams may comprise a minimum of one and a maximum of ten members. If the Team consists of one member only, they will hold the CEO title.
- Teams of two and more members should include the following roles: Chief Executive Officer and Chief Technical Officer.
- Teams registering for the CIC Awards must be citizens residing in a CARICOM Member or Associate State and have the minimum legally authorized age to start and operate a business in that country.
- Any entrepreneur, 18-34 years old, may enter regardless of their level of education.
Other requirements are;
Eligible Nationality
Eligible regions are citizens of the countries listed below.
- Antigua and Barbuda
- Bahamas
- Barbados
- Dominica
- Grenada
- Grenada
- Guyana
- Haiti
- Jamaica
- Montserrat
- Saint Lucia
- St. Kitts and Nevis
- St. Vincent
- Grenadines
- Suriname
- Trinidad
- Tobago
- Anguilla
- Bermuda
- The British Virgin Islands
- Cayman Islands
- Turks
- Caicos Islands
Competition Theme
This year’s Caribbean Innovation challenge theme is Resilience and Climate Change. To support understanding the reasons and effects of Climate Change through adaptation, mitigation, and prevention, focusing on sargassum, natural disasters, and climate change.
How to Apply for Caribbean Innovation Competition
The application for this competition is online through the link below.
You may also like to apply for other Ongoing International Undergraduate scholarships
Frequently Asked Questions For Caribbean Innovation Competition
The finalist of this competition will get the sum of US$5,000.
The Carribeans are eligible for Caribbean Innovation Competition.
Conclusion
The Caribbean Innovation Competition program relies on a collaborative, regional support network of national partner institutions and stakeholders supporting the CIC efforts.
The network is confirmed by over 150 collaborators that include Governments, National Ministries, NGOs, private and public sector institutions, universities, and young people in the countries participating.
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