COMMISSION
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PRESENT BUSINESS MODEL COMPETITION
APPLICATION GUIDELINES EXTENDED DEADLINE: 29TH MAY 2020 Eligible Countries: Anguilla, Antigua & Barbuda, British Virgin Islands, Grenada, Guadeloupe, Dominica, Martinique, Monserrat, St. Kitts & Nevis, Saint Lucia, St. Vincent & the Grenadines, Jamaica, Trinidad & Tobago, Barbados, the Cayman Islands, Suriname and Guyana. The Organisa�on of Eastern Caribbean States (OECS) Commission invites; interested entrepreneurs to par�cipate in the inaugural Sustainable Development Movement (SDM) Business Model Compe��on 2020. 1.0 About the Sustainable Development Movement SDM 2020 The SDM 2020 is an inaugural Sustainable Development Movement Summit expected to a�ract over 700 delegates from across the Caribbean Region and interna�onally. Targeted a�endees include: interna�onal development partners, private sector, global entrepreneurs, Heads of Government, Academia, Investors, and persons who want to be great! The event is expected to reach over 30 million persons across the world via an aggressive social media marke�ng campaign. The event will create a common space where Interna�onal Development Partners, the Private Sector, Global Entrepreneurs, Academia, Caribbean Governments and individuals, to meet and exchange thoughts, best prac�ces, untold stories and strategies concerning sustainable growth and development. The event will also feature a pitch compe��on providing entrepreneurs the opportunity to pitch their business ideas to a panel of investors. 2.0 Scope of the Business Model Competition
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Based on consulta�ons with regional entrepreneurs and Business Support Organisa�ons (BSOs), to diagnose key issues affec�ng the scalability of start-ups in the entrepreneurship ecosystem, a number of challenges have been iden�fied. One of the most significant challenges facing entrepreneurs is access to experienced investors, coaches and mentors to guide them in scaling their opera�ons. This situa�on is further exacerbated by the onslaught of the COVID-19 global pandemic on the business sector, par�cularly micro, small and medium-sized enterprises (MSMEs). The pandemic and the mi�ga�on measures if con�nued over an extended period of �me threaten to render many business models obsolete and irrelevant. With this being said, the SDM Business Model Compe��on is not only relevant but �mely and forms part of the Commission’s response to strengthen the capacity of MSMEs as we assist with the recalibra�on of business models connected to a strengthened entrepreneurship support ecosystem. The OECS is therefore facilita�ng the opportunity for entrepreneurs to pitch their business ideas to investors.
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EMAIL: bizmodelcompetition@oecs.int - TEL: 1(758) 455-6370/54/89 - WEB: www.oecssdm.com
The pitch event will take place on September 24th, 2020 which is the second day of the Sustainable Development Movement Summit. The pitch session will be two (2) hours long, with a maximum of ten (10) minutes allo�ed for each presenter. A panel of investors led by Mr Daymond John (Shark Tank Investor) will judge the pitch compe��on. The event is targe�ng growth-oriented, innova�ve and opportunity focused entrepreneurs that can contribute to inclusive and sustainable economic growth. 3.0 Objectives of the SDM Business Model Competition In this regard, SDM Business Model programme aims to: ❑ Strengthen the capacity of 30 High Growth Poten�al Entrepreneurs in the Caribbean via integra�on into a virtual network of support; ❑ Facilitate the connec�on of high growth poten�al entrepreneurs to investors and mentors; ❑ Facilitate business match-making; ❑ Connect entrepreneurs to an ecosystem of business development support. 4.0 SDM Business Model Process Flow
Launch Call for Applica�ons
Review Applica�ons
Engage Mentors & Coaches
Select 30 High-Growth Poten�al Entrepreneurs
Administer Capacity Building Programme
Execute Preliminary Pitch Compe��on
Choose finalists who will advance to the Pitchroom
Con�nue coaching programme to prepare the finalists for the Pitchroom
Host the SDM Pitchroom
Select winner
Post-SDM handholding support
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5.0 Who should apply?
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EMAIL: bizmodelcompetition@oecs.int - TEL: 1(758) 455-6370/54/89 - WEB: www.oecssdm.com
Interested applicants must submit a completed applica�on form via the online portal. All required documents must be provided in English and the following criteria/requirements must be met: ●
Eligibility criteria o Business must be between 1-10 years in opera�on o Businesses must meet the following criteria: employ fewer than 25 persons, capital / assets less than USD 350,000 and annual sales less than USD 750,000. (Proof is required upon shortlisting) o Businesses must be registered in Anguilla, Antigua & Barbuda, British Virgin Islands, Grenada, Guadeloupe, Dominica, Martinique, Montserrat, St. Kitts & Nevis, Saint Lucia, St. Vincent & the Grenadines, Jamaica, Trinidad & Tobago, Barbados, Suriname, the Cayman Islands and Guyana. Businesses must submit a copy of their registra�on cer�ficate. o The business must fall within one of the following targeted sectors: ▪ Agribusiness & Manufacturing: e.g. agriculture (fresh produce producer/suppliers), produc�on of high valued agro products such as; sauces, spices, teas, confec�onary, condiments, spa, and personal care products; ▪ Crea�ve Industries: e.g. Music - wri�ng, produc�on, recording and performing from various genres of music, Fashion - design, and produc�on of clothing and accessories, film produc�on and anima�on, feature films, documentaries, television programs; ▪ Green Industries: e.g. renewable energy, recycling, waste and water management, sustainable eco-projects; ▪ Informa�on Communica�on Technology: e.g.: agri-technology, mobile, and web applica�on development, so�ware solu�ons, mul�media solu�ons, etc. ▪ Health & wellness: e.g. medical care products, technology, and services, nutraceu�cals; o Should have an innova�ve and unique business idea/model. (Proprietary innova�on and Intellectual Property (IP) will be an asset) o
Willingness to par�cipate in all capacity building ini�a�ves that will be delivered under this programme
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Must be open to discussing the nature of your business and business plans
6.0 Virtual Capacity Building Programme All 30 shortlisted entrepreneurs are required to undergo a virtual capacity building programme.
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The Virtual Capacity Building programme will focus on taking all 30 shortlisted entrepreneurs through content related to the following areas u�lizing a mul�plicity of approaches covered under Channels of Delivery:
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EMAIL: bizmodelcompetition@oecs.int - TEL: 1(758) 455-6370/54/89 - WEB: www.oecssdm.com
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Business Modellling
Financial Literacy & Management
Marke�ng and Branding
Business Matchmaking
Pitch Deck Prepara�on & Delivering the Ul�mate Elevator Pitch
Corporate Governance & Leadership
The Entrepreneurial Mindset
7.0 Virtual Business Model and Pitch Coaching Programme (Business Modelling and Pitch Deck
Preparation)
The coaching programme is designed to assist the entrepreneurs to understand the nine (9) building blocks that make up a business model. The Business Model Canvas is a strategic management and lean start-up template for developing new or documen�ng exis�ng business models. It is a visual chart with elements describing firms or product's value proposi�on, infrastructure, customers, and finances. The entrepreneurs will learn how to u�lize the tool to communicate their business ideas more effec�vely. They will use the business canvas tool to develop or improve their business model overall. The sessions will take place as follows:
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Session 1 Presenta�on and Feedback: Entrepreneurs will deliver an introductory pitch for three (3) minutes outlining their business model and background. This will allow the coaches to develop a be�er understanding of the applicants pitching skills and business models. (two sessions of 15 candidates of 2 hrs each) Session 2 Business Model Development: The Canvanizer will be used to guide the entrepreneurs in developing and refining their; value proposi�on, Customer Rela�onships and Customer Segments and Channels (two sessions of 15 candidates of 2 hrs each); Session 3 Business Model Development: The Canvanizer will be used to guide the entrepreneurs in developing and refining their; Key Partners, Key Resources, Cost Structure, key Ac�vi�es (two sessions of 15 candidates of 2 hrs each); Session 4 Canvas Presenta�on and Feedback: Entrepreneurs will undertake another pitch session before the quarter finals to receive feedback in prepara�on for the quarter finals. Quarter Final: Thirty (30) entrepreneurs will pitch their canvas model for five (5) minutes virtually to a panel of judges. Fi�een (15) entrepreneurs will be selected to pitch in the semi-final. (two sessions of 15 candidates of 2 hrs each);
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EMAIL: bizmodelcompetition@oecs.int - TEL: 1(758) 455-6370/54/89 - WEB: www.oecssdm.com
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Session 5 How to pitch your business effec�vely! The entrepreneurs will be guided through the process of preparing an effec�ve pitch deck and the guidelines for delivering a successful pitch. Semi-Final: Fi�een (15) entrepreneurs will deliver five (5) minute pitch decks virtually to a panel of judges. Eight (8) entrepreneurs will be selected to proceed to the final. (two sessions of fi�een (15) candidates of 2 hrs each);
8.0 Final pitch event Eight (8) Entrepreneurs will par�cipate in the final pitch before a panel of six (6) judges who will evaluate the pitches based on pitch compe��on judging criteria provided. Each entrepreneur will have ten 10 minutes to pitch their business including ques�ons and answers.
9.0 Evaluation and Scoring Guidelines For Initial Application The respec�ve business models will be evaluated based on the following criteria (refer to Appendix A for addi�onal details): 1. 2. 3. 4. 5. 6. 7.
Crea�vity and Innova�on Market Feasibility Management Feasibility Financial Feasibility Growth Poten�al Overall Pitch Presenta�on Prototyping
10.0 Channels of Delivery The virtual capacity building programme will be delivered through the following channels:
Coaching Sessions War Rooms
Webinars Pitchroom
Demo Days
11.0 Provisions for Entrepreneurs & Sectional Prizes This programme is being delivered via a virtual pla�orm that will culminate with the Pitch Compe��on that will be held on September 24, 2020 at the Royalton Hotel, Saint Lucia. The overall programme caters to 30 entrepreneurs who will be shortlisted to par�cipate. Par�cipa�ng entrepreneurs based on performance will be provided with varied levels of support to include the following: ► SDM 2020 Regular Tickets to all 30 selected MSMEs (admit 1) ► Selected MSMEs who do not advance to the semi-finals (who reside outside of Saint Lucia) will be responsible for their travel related expenses to par�cipate in SDM 2020
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► Finalists will be provided with the following resources to par�cipate in the Pitchroom on September 24, 2020
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► Return economy class airline �cket (as applicable) ► Hotel accommoda�on as applicable ► Meals associated with the SDM 2020 regular �cket package (all other meals and associated expenses will be funded by the entrepreneur) The 1st to 3rd place winners will get an opportunity to benefit from exci�ng sec�onal prizes; see below: ► 1st Place – USD 20,000 ► 2nd Place – USD 10,000 ► 3rd Place – USD 5,000
12.0 SDM Pitch Deck Guidelines ● ● ● ● ● ●
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Entrepreneurs may pitch as individuals or teams of no more than three (3) persons. Entrepreneurs must be willing to discuss their business ideas openly. Each entrepreneur/team will be allowed five (5) minutes to pitch their business ideas to the panel of investor’s and five (5) minutes for ques�ons and answers. A lo�ery will be drawn to randomly select the order of presenta�ons. Only one entrepreneur/team will be allowed into the “den” at a �me. The other teams will wait their turn in a separate room. Entrepreneur’s/Teams may use appropriate; props, product samples, mul�media, PowerPoint and other visual aids to assist in their presenta�ons. (Teams should seek approval to use props well in advance of the pitch). Props and prototypes must be in accordance with space constraints at the presenta�on facility. Entrepreneurs must pitch in English (no transla�ons services will be provided)
13.0 Important Dates
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The business model competition will conducted within a timeframe of nineteen (19) weeks.
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Interested entrepreneurs may apply by comple�ng the online applica�on form by Friday, May 29, 2020 at 11:59 pm. Click Here to access the Applica�on Portal. 14.0 Things to Note before you Submit the Application ► Read through the applica�on form and TOR thoroughly before submi�ng the applica�on; resubmissions will not be accepted a�er the deadline date. In the event that resubmissions are being made, the applicant must no�fy the Commission by email (first) directed to bizmodelcompe��on@oecs.int outlining that a resubmission is being made. ► Each entrepreneur is only allowed to make 1 applica�on. ► Entrepreneurs who make a submission cannot appear as a partner to a firm making another submission. If this is done and the Commission discovers this during the process a�er the entrepreneur has been shortlisted, there will be immediate disqualifica�on. ► Immediate Family members of persons working at the OECS Commission are not allowed to par�cipate in this programme. ► OECS Commission staff are not eligible to par�cipate in this programme.
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► Please honour the date and �me deadline, applica�ons received a�er this will be disqualified. ► Complete all sec�ons in the applica�on form and submit all required documenta�on. Par�ally completed applica�on forms will be disregarded without no�fica�on. ► Applica�ons are being received via a compe��ve process therefore all entrepreneurs are required to complete the applica�on form. ► All applicants are required to demonstrate par�cipa�on in an incubator, accelerator or capacity building training with or through a Business Support Organisa�on. ► Submi�ng an applica�on does not mean automa�c selec�on. ► The Commission will only respond to shortlisted applicants. ► The Commission has the right to abort or discon�nue the programme at any �me without prior no�ce. ► All applica�ons are subject to an administra�ve review. Applica�ons that do not pass the administra�ve review process will be automa�cally disqualified. For example, the submission of cer�ficates of incorpora�on or business registra�on documents is an administra�ve ma�er. If applica�ons are not accompanied by this, they are automa�cally disqualified. ► A copy of the business most recent year financial statement will be required if the applica�on is selected. Only successful applicants will be contacted.
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For further informa�on on the applica�on and program details please contact: OECS Commission Morne Fortune, St. Lucia bizmodelcompe��on@oecs.int Tele: 758-455-6382 / 758-455-6370 / 758-455-6389
Kwesi Roberts Technical Specialist – Entrepreneurship Development Tele: 758-455-6382
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Ricardo James Technical Specialist – Export Development Tele: 767-255-8800 / 767-255-8803
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Officers:
Nadege Jn Bap�ste Programme Officer – DCRM Unit Tele: 758-455-6370 Patricia-Ann Wardrope Programme Assistant – DCRM Unit Tele: 758-455-6389
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EMAIL: bizmodelcompetition@oecs.int - TEL: 1(758) 455-6370/54/89 - WEB: www.oecssdm.com
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