Buy Jamaican > Tertiary Entrepreneurship Challenge

    

The Jamaica Manufacturers' Association in partnership with the National Commercial Bank Foundation

     

Invites Tertiary Level Students to participate in the

TERTIARY ENTREPRENEURSHIP CHALLENGE 

Do you have a burning desire to become an entrepreneur? Do you have what it takes to start a business venture within three (3) months? Then all you have to do is submit a business plan for a local manufacturing product or a technology/service catering to the manufacturing sector, for your chance to win!  

Ten (10) candidates will be selected to participate in the final round of the competition.  Each finalist will be provided with a capital injection of $50,000 to start the business. 

Competition Rules and Guidelines:       

       ·         Students must be enrolled in a Tertiary Institution

·         Business plans must be submitted with a completed entry form. 

Click here for entry form 

Click here for an outline of the various business plan components

Click here to view manufacturing subsectors and products

       ·         Business plan samples can be viewed at http://www.bplans.com/sample_business_plans.cfm

     ·         The school stamp must be affixed to each business plan submitted.

       ·      The JMA reserves the right to withhold prizes where entries do not meet the minimum standards.       

       ·         Font: Times New Roman (12)

       ·         Layout: Pages should be numbered and must be double -spaced. Include a title page, and a table of contents with your business plan.

The business plan should not be in excess of 15 pages. Business plan MUST include the following:

1.    Executive Summary: A one (1) page summary of the business plan that provides an overview of the business scope and the financial needs.

2.    Company Description: Includes the name of the company and what it does, for e.g. we produce…; mission /vision statement; and the goals and objectives of the company.

3.    Product/Service Description: Describes the product or service and how it will generate money

4.    Market Analysis/ Market Need: The problem that the company’s  product/service will solve/address and what needs/demand it will satisfy

5.    Competitor Analysis: Evaluation of the competitor and the strengths, weaknesses, opportunities and threats (SWOT) to the company.

6.    Marketing and Sales Plan: The kind and size of target market and the strategies for distribution, sales, pricing and promotion

7.    Financial Projections: Sources and Uses of Capital. Includes a current balance sheet, an income statement (profit-and-loss forecast), and a cash flow analysis for twelve (12) months, which will show payback plan. 

8.    Production Team: Including a breakdown of the management team, their experience, expertise and duties.9.    Organizational Structure : Outline the hierarchy of members or chain of command within the company using an organizational chart

10. Appendices: Supplementary material such as graphs, photos of product(s) and marketing materials.  

Prizes:

First place

·         Cash Prize J$ 100,000.00

·         Scholarships of J$ 50,000.00 each for four (4) team members

·         The Project Manager will receive an internship (paid or unpaid) at one of JMA’s member companies. 

 

Runner-up

·         Cash Prize J$ 50, 000.00

        ·         Scholarships of J$30,000.00 each for four (4) team members

 -Submission Deadline: February 11, 2010

-Announcement of Selected Participants: February 19, 2010

-Cheque Handover Ceremony – February 26, 2010 

Length of Competition: Three (3) months after notification of participation in the final round of the competition 

-Hard copy of the business plan with completed entry form is to be submitted to: 

Tertiary Entrepreneurship Challenge 

 C/o The Jamaica Manufacturers’ Association Ltd.  

85A Duke Street, Kingston

 

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