The Trust for the Americas’ Innovation Lab in Jamaica Celebrates Successful Residential Pitch Tank Finals
Kingston, Jamaica. August 25th, 2024. The Trust for the Americas’ local partner for its Innovation Lab in Jamaica, the Institute of Law & Economics (ILE), recently hosted its Residential Pitch Tank Finals, marking a significant milestone in fostering entrepreneurial innovation in Jamaica. This event brought together a diverse group of aspiring entrepreneurs, primarily from the JET Project, with additional participation from the AIDS Health Foundation (AHF) Summer Internship Program.
Out of 75 initial invitees, 18 dedicated participants engaged in weekly Zoom sessions that began in June. These sessions, led by Ms. Shauna Todd, Project Coordinator from ILE, covered essential topics designed to equip participants with the tools needed for entrepreneurial success. Over five weeks, participants delved into subjects such as:
- Becoming a World-Class Entrepreneur
- The Business Model Canvas
- The Marketing Network Mix
- Financial Literacy
- The Art of Public Speaking
Despite challenges, including delays caused by Hurricane Beryl that extended the program into August, the commitment to innovation remained unwavering. On August 24th, the shortlisted participants gathered at the Eltham Training Centre in St. Ann for an intensive Boot Camp. This session focused on refining their pitches and preparing for the finals. Following a day of preparation, the participants retreated to Mystic Ridge Resort for further practice and final touches on their presentations.
The Pitch Tank Finals took place on August 25th at the Eltham Training Centre, where 14 participants from across the island presented their business ideas. The event was a hybrid affair, with some participants pitching in person and others joining virtually via Zoom.
A distinguished panel of judges, including Mr. Dwayne Gutzmer, CEO of the Institute of Law & Economics, Mrs. Regina Owen-Morrison, Project Coordinator for the local Trust for the Americas team, and Ms. Racheal Callaghan, PR Specialist for The Trust, provided insightful feedback. The judges evaluated pitches based on criteria such as:
- Does the project solution fit within a priority area? (Poverty, Innovation, Food Shortage, Community Violence Prevention, Citizen Participation, Climate and Environmental Resilience, Gender Equality and Youth Empowerment etc.).
- How complete is the proposed idea/solution? Were the activities/objectives of the proposed solution clearly outlined?
- Is the creation of a solution supported by credible research and data?
- Does the project solve a problem? To what degree will the project have an impact on minimizing the identified problem?
- How innovative is this solution?
- Have Participants made provisions for the use of social media platforms in their marketing/communication strategy?
- Did the proposed solution/activity seem well thought out? How well did the applicant outline and deliver their intended activities? Was the presentation free from grammatical and spelling errors?
The event culminated in the announcement of the winners, with 13 out of 14 businesses receiving seed funding to support the development of their ventures. This achievement underscores the Trust for the Americas’ commitment to empowering the next generation of Jamaican entrepreneurs and driving economic growth through innovation.
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About The Trust for the Americas:
The Trust for the Americas is a non-profit 501(c)(3) organization affiliated with the Organization of American States (OAS). It was established in 1997 to promote public and private sector participation in social and economic development projects in Latin America and the Caribbean. Our initiatives, implemented through local partner organizations, seek to improve access to economic opportunities as well as to foster innovation in vulnerable communities in the hemisphere. To this end, The Trust also promotes social inclusion and good governance. The Trust has offices in Washington, D.C., Colombia, and Canada.
More information: www.thetrustfortheamericas.org
About Citi:
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments, and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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About Citi Foundation:
The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. We invest in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant communities. The Citi Foundation's "More than Philanthropy" approach leverages the enormous expertise of Citi and its people to fulfill our mission and drive thought leadership and innovation. For more information, visit www.citifoundation.com.
