ECCB launches 2014 Business Innovation Contest for ECCU Secondary School and Community College Students

As part of the activities for Financial Information Month 2014, the Eastern Caribbean Central Bank (ECCB) will host its annual Eastern Caribbean Currency Union (ECCU) Business Innovation Contest for Secondary School and Community College Students.{{more}}

The students are required to conceive an innovative business idea geared towards a specific business, social or economic need and/or problem which they have observed in their respective countries. The business idea should be articulated in a supporting business plan, which a panel of judges will assess mainly on innovativeness, viability and potential impact. The students will also be required to make an oral presentation, where they will present their business ideas to a panel of judges.

The theme for Financial Information Month (FIM) 2014, “Soar to Succeed” emphasises that one has to rise above the ordinary to achieve success by going beyond ordinary commitment, vision, skills, efforts, and actions. The contest harnesses the essence of this theme by challenging the young people of the ECCU to embrace innovative thinking which could inspire the spirit of entrepreneurship and assist in the development of their communities.

The contest is open to students from the eight countries of the ECCU and the key objective is to support the ECCB’s mandate to promote growth in the currency union.

The first place regional winner will receive a prize package valued at $3,000; the second and third place winners will receive cash awards of $2,000 and $1,000 respectively.

The school with the most entries will be awarded a cash prize of $1,000 and the students with the top entry from each country which does not place among the regional winners will receive a meritorious award of $500.

The deadline for the submission of entries for the ECCU Business Innovation Contest for Secondary School and Community College Students is 30 January 2015. The winners will be announced in March 2015 at the prize-giving ceremonies, which will be held at the respective schools.