UTech, Jamaica Launches 8th Annual Business Model Competition
In continuing its thrust to promote a robust entrepreneurial culture at the University, the Joan Duncan School of Entrepreneurship, Ethics and Leadership (JDSEEL) on October 8, 2020 announced plans for the 8th annual UTech, Jamaica Business Model Competition among students. The launch and first sensitization session was hosted via the Blackboard Collaborate online platform.
Overview of UTech, Jamaica BMC
Dr. Carol Nathan, Associate Professor, Faculty of Education and Liberal Studies and competition chairperson noted that the UTech, Jamaica BMC was developed to foster and facilitate strong entrepreneurial pursuits within the student body, and “provides an excellent opportunity for all our university students to understand and become engaged in the entrepreneurial process.” She praised participants who, in the past seven years of the competition, proved themselves to be true innovators by bringing forward creative and remarkable business ideas.
Citing restrictions placed on physical gatherings caused by the COVID-19 pandemic, Dr. Nathan announced that this year’s competition will be moved online. She pointed out however that this change opens up many new opportunities for competition organizers as well as for students. She also shared that among the proposed themes for this year include Computer and Information Technology, Agriculture, Beauty, Safety and Security, Food, COVID-19 mitigation related innovations, Health and Education.
The winner of the UTech, Jamaica BMC will receive $400,000.00, while 2nd and 3rd place will receive $200,000.00 and $120,000.00 respectively. Other prizes include entrepreneurial training and business mentorship, as well as access to an office space at the University’s Technology Innovation Centre (TIC). Applications were officially opened on October 8, 2020 during the session, and can be accessed via the link: UTech, Jamaica BMC Application 2020/2021.
Business Model Canvas
Ms. Novelette Cooke, Lecturer, JDSEEL and BMC Mentor explained that teams will be required to use the Business Model Canvas to present a succinct representation of the reality in which their business will operate. “Whether or not you win this competition, we want you to start successful businesses,” Ms. Cooke noted.
The launch included a video showcasing youth entrepreneur and 2018 competition winner Rayvon Stewart, whose innovation, Xermosel has been touted as a tool in the fight against COVID-19.
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Contact:
Michelle Beckford (Mrs.)
Corporate Communications Manager
University of Technology, Jamaica
Telephone: 876 970-5299
Email: mbeckford@utech.edu.jm