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Champions of Business 2023
Champions of Business is an Awards programme presented by the Trinidad and Tobago Chamber of Industry and Commerce and was introduced in 2005 under the name Business Hall of Fame and rebranded in 2014.
The Awards capture a spectrum of achievements in business enterprise that encompasses small business development, creativity, innovation, tech development, sustainability, internationalisation and life legacy. Each category is hinged on both business acumen and corporate responsibility. The Awards are tailored to either individuals or companies and are open to Trinidad and Tobago entities, whether or not they are members of the Chamber. These Awards are truly aligned to the ethos and visions of the Chamber and our partner sponsors who all have taken the opportunity to help highlight the people and corporations who are the pride of our nation.
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Awards and Criteria Business Hall of Fame
The Business Hall of Fame started in 2005 with the posthumous induction of founding member of the T&T Chamber Joseph Leon Agostini. The very first Business Hall of Fame was a simple ceremony that took place in the Board room of T&T Chamber’s offices. The award ceremony soon outgrew its modest beginnings and evolved into an official award ceremony which now inducts a maximum of two business leaders at its annual awards event. Each year outstanding individuals are inducted into the T&T Chamber’s Business Hall of Fame; one of these persons may be inducted posthumously.
Criteria
• The nominee must be a citizen of Trinidad and Tobago
• Have made a significant impact as a business leader over the duration and span of their career and be recognised as an exemplary role model for future and emerging business leaders. Consideration will be given to such accomplishments as starting and building a business or leading an established business to significantly greater achievements
• Have worked to also improve the community, environment or engaged in other corporate social responsibility initiatives
• Have demonstrated their commitment to building and improving the national landscape
• Have gained industry recognition for achievements as an industry pioneer and/or leader
Please note that there are no finalists for this category.
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Green Agenda Award
The Green Agenda Award recognises the contribution and commitment that companies now make towards growing a greener future in business today and delivering a new blueprint for business in the 21st Century. This company demonstrates leadership in implementing energy efficiency strategies and works to positively contribute to the promotion of a greener T&T.
Criteria
• The business or organisation must be registered in Trinidad and Tobago
• The business or organization should have a written policy on sustainability
• The organization must demonstrate how its sustainability measures are implemented.
• Transferability: Show market potential for the realisation of similar projects in other companies (in the sector or across the board).
• Consideration will be given to companies which began the process of implementation of international sustainability and environmental standards, e.g. ISO14000, Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB).
• Community involvement, corporate citizenship and support for initiatives targeted at advancing the green agenda, through advocacy, research, education or projects, e.g. school projects, supporting NGOs/Community projects.
Please note that there are no finalists for this category.
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Internationally Known...T&T Owned Company of the Year Award
The Internationally Known...T&T Owned Company of the Year category is open to corporate entities only (not individuals or professionals in business) and is awarded to one company in recognition of excellence in performance locally and regionally or internationally. This category is open to ALL companies.
Criteria
• The company must have at least 51% local (Trinidad and Tobago) shareholding ownership
• Have engaged in significant business development expansion overseas with an established footprint either regionally or internationally, whether through manufacturing or distribution in other markets or via exports of their services. Also shows the potential and plans for sustained growth in international markets
• Show its consolidated sales distribution percentage, i.e. local vs. outside Trinidad and Tobago
• Document in detail the company’s evolution towards becoming an “Internationally Known” organization
• Have worked to improve the community the environment or engaged in other corporate social responsibility initiatives
• Describe your company’s employee engagement initiatives, effective leadership and management capabilities and strong business results
• Describe your company’s ethical and sustainable approach to business
• Describe your company’s International engagement and knowledge of different jurisdictions
Please note that there are no finalists for this category.
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Breakthrough Exporter of the Year Award
The Breakthrough Exporter of the Year category is open to companies showing significant growth over prior year.
Criteria
• The company must have at least 51% local (Trinidad and Tobago) shareholding ownership
• Reporting annual turnover of no less than TT$500,000 but no more than TT$20,000,000
• Have achieved export growth of no less than 25% on prior year export sales: show increase in sales through exporting
• Document the company’s evolution towards becoming an exporter: Innovation in products, services or processes to enable exporting
• Illustrate its corporate social responsibility initiatives
• Describe your company’s employee engagement initiatives
Please note that there are no finalists for this category.
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Innovation Award
Companies or Individuals which create a culture of improvement or innovation for customers may be nominated for this award category. The Innovation Award focuses on the pioneering use of technology, such as social media, virtual reality, blockchain or artificial intelligence to increase productivity and measurable improvement for customers, clients and businesses. This award recognises the significant role innovation plays in transforming our economy.The award celebrates a company or individual which has provided innovative solutions or services for new and existing market needs.
Criteria
Nominees must provide proof of innovativeness in the following areas:
• Originality: Describe the uniqueness of the product and its superiority in comparison with similar or alternative products in the market. This includes incremental and radical innovations. Be innovative or be a new invention (within the last 3 years)
• Marketability: Show the extent to which the innovation sufficiently addresses the problem it seeks to solve at a cost or model that is accessible to the target market and can generate profits or is self-sustainable
• Scalability: Describe the extent to which the solution can be easily applied to other similar markets beyond the applicant’s immediate or local environment
• Social Impact: The ability of the innovation to create or effect positive and desirable benefit beyond profit within the target community and other stakeholders
• Technical Aspects: The technical specifications of the innovation are grounded on established science and sufficiently address anticipated product risks
There may be 3 finalists for this category with 1 emerging as the Innovation award recipient.
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Entrepreneurship Award
The Entrepreneurship Award –is presented to an individual or business that has been founded within the last 8 years and which has been experiencing strong growth. The nominee must be an owner or leader of a private or public company with primary responsibility for the recent performance of the company, as well as be an active member of management. Non-founding entrepreneurs are also eligible if the individual manages the business and assumes the associated risks. The nominee must be exceptional visionary displaying inspirational leadership skills.
Criteria
• The nominee must be a citizen of Trinidad and Tobago and the business must be registered in, and operating in Trinidad & Tobago and demonstrate the creation of real shareholder value
• The nominee’s business should still be operational and should have been registered on or after Jan 1, 2014, show strong commercial performance, financial results and demonstrate growth
• The nominee and/or business must show proof of how they identified this market opportunity and be able to define and demonstrate the business’s Unique Selling Proposition (USP)
• The nominee and/or business must have noticeably made a mark in the field, show customer engagement and loyalty strategies and the potential and plans for sustained growth
• The nominee and/or business must practice good governance and responsible business practices and describe its ethical approach to business.
Please note that there are no finalists for this category.
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SME Award
Celebrating the contribution of SMEs to the TT economy, this award recognises the Small to Medium-Sized Enterprises (SME) that has maintained consistent growth and strong financial performance, understands its customer, has an engaged workforce with effective leadership, demonstrated effective use of technology/digital media to engage with all stakeholders (customers, employees, etc.) and is continually innovating to support future growth.
Companies that have shown growth in customers or revenue over the last five years in the services or produce sector will be recognised in this category.
The SME Category is broken into two awards.
i) Small Business Award
Eligibility: Open to all Trinidad and Tobago registered companies having a minimum 51% Trinbagonian ownership, employing 6-25 workers, and generating revenues ranging from TT$500,000 to TT$2.99 million. The company must be financially stable and operational for at least three years.
ii) Medium Sized Business Award
Eligibility: Open to all Trinidad and Tobago-registered enterprises with a least 51% Trinbagonian ownership, employing 26-50 persons, and having revenues ranging from TT$3 million to TT$50 million. The company must be financially stable and operational for at least 5 years. Each category will consist of one winner.
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SME Award (cont’d)
Criteria
Nominees must provide proof of the following areas:
• Originality: Market opportunity that you have identified and how your product or service capitalised on it, as well as its superiority in comparison with similar or alternative products/ services in the market.
• Marketability: How well your company tackles the problem or market gap it intends to fill, the target market, and how it can produce profits or is self-sustaining.
• Scalability: The extent to which your product/service can be easily applied to other similar markets beyond your immediate or local environment.
• Employee & Customer Engagement: Must be a company that is employee and customer focused with tangible programmes that drive employee and customer satisfaction.
• Responsible Business Practices: The ability of the product or service to create or effect positive and desirable benefit beyond profit within the target community and other stakeholders
• Financial Performance: Evidence of your sales turnover for the last three years. You must also be able to explain how you have achieved sustained growth in sales and profits.
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Nominations
To nominate your 2023 Champions of Business go to the nomination page and access the link:
Champions of Business Gala Awards and Cocktail Reception
November 2, 2023
The National Academy for the Performing Arts (NAPA)
Formal Awards: 6:30pm – 8:30pm | Cocktails: 8:30pm – 11.30pm
To book your seats email events@chamber.org.tt
For further information on the Champions of Business Awards Programme visit www.chamber.org.tt
NOMINATION PAGE LINK 12