Barbadian Envoy sees need for Barbados to incorporate Singapore model for Entrepreneurship

At the just concluded Foromic, a primarily Latin American market for small business funding, Barbados’ Permanent Representative to the OAS, John Beale, expressed regret how so few Bajans can be found in a contest which has helped thousands of young businesses to thrive and even branch out as a result of the prizes afforded, as witnessed in the subsequent video…

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.

Make sure to visit to register.

John Beale – Barbados’ Ambassador to Washington speaking at 2 Mile Hill

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.’

While Barbados had a presence at Foromic, it is felt by H.E. Beale that Barbados needs to be far more pro-active when it comes to support and creating the right background for young people to want to become their own bosses.

Registration and submission of Concept Papers is by 21 December 2012, while the finals will be held here in Barbados, by April 2013.

L to R: Francis McBarnette (OAS); Valerie Lorena (YABT); Paula Mohamed (OECS); Dr Paula Sanchis (Moderator/Youth-IN) & John Beale – Bds Perm. Rep. to the OAS

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.

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