Eight burgeoning companies are taking part in the 2023 Cayman Islands Business Design Competition, which is described by organisers as Cayman’s ‘Shark Tank’.
In the annual competition, produced by Enterprise Cayman and sponsored by Cayman Enterprise City, Cayman’s entrepreneurs are invited to showcase their new and innovative business ideas.
Throughout the month-long competition, finalists take part in a series of workshops, project advisor meetings, and networking events, and then on ‘Pitch Day’ they present their projects to a panel of judges.
For the first time, this year’s ‘Pitch Day’ will be livestreamed, on Saturday, 1 April, on the Enterprise Cayman YouTube channel, with support from Silver Palm Studios, according to a press release.
The eight finalists taking part in the competition are:
- Ambitionless No More! – Streetwear fashion design inspired by the Cayman Islands by Alec Harding, Javaldo Blake, Zachary Franklin and Christian Murry
- Island Pet Co. – Locally made, sustainable fresh pet products by Steve Toms
- GraBit Cayman – A one-stop shop delivery app by Melisa Bent and Sherolene Belnavis
- Kareera – A portal providing career logistics by Sherilyn Miller
- Locks for Handbags and Backpacks – An easy opening system to make bags and backpacks safe by Nina Ketiss
- QuickQuip – Pre-written replies helping to streamline communications by Aaron Santamaria
- Substitute Teachers of Cayman (STOC) – A platform for substitute teachers and schools by Sharice McLean, Deidre Garcia-Daniel, Maggie Ebanks and Kirkpatrick Clarke
- Syntelligence AI – Artificial Intelligence tools helping to streamline businesses by Kevin Ramirez
The initiative was launched in 2021 to help creative individuals and entrepreneurs to fast-track their business ideas and get projects off the ground faster with the assistance of professional support networks.
“The Business Design Competition works to strengthen Cayman’s supportive innovative ecosystem,” Charlie Kirkconnell, CEO of CEC and director of Enterprise Cayman, said in the release. “The competition fosters knowledge-sharing amongst professionals and is helping to drive business innovation.”
“We wanted to make the Design Competition as accessible as possible so individuals from all over the world, including our Sister Islands, will be able to tune in and cheer on Cayman’s entrepreneurs,” said Alyssa Manderson, Enterprise Cayman programme and events coordinator. “We’re also hoping that by making the competition accessible online individuals may be inspired to come up with their own creative business ideas and even compete the following year.”
There are a number of different awards up for grabs in the competition, including:
- Project of the Year – For a business design that shines above and beyond competition expectations. The grand prize is US$10,000 plus wraparound business services.
- Innovation Award – For an innovative business design that is inspiring, new and/or unconventional. This winner will receive a US$2,000 cash prize and wraparound business services.
- Community Impact Award – For a business design that makes a difference in local and/or global communities. The winner will receive a US$2,000 cash prize and wraparound business services.
- All finalists will receive a business support prize pack valued at more than CI$1,500, which includes access to professional meeting spaces, legal advisory sessions, marketing support, reduced rate of incorporation, access to CEC networking events, a 90% HubSpot discount, as well as scholarships to attend Code/Cyber courses.
‘Pitch Day’ takes place on 1 April, from 10am to 12 noon. The winners will be announced on 3 April.
To register interest and to receive a copy of the livestream link, visit www.enterprisecayman.ky.
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