Fifteen Student-Entrepreneur Teams for 6th Staging of National Business Model Competition Up to $4M dollars in prize monies and all-expense paid trip to the USA

Fifteen teams from four local universities have applied to enter the sixth staging of the National Business Model Competition (NBMC), which will be held on Thursday, March 21, and Friday, March 22, at the Knutsford Court Hotel.
 
The announcement was made at a press launch hosted by the Development Bank of Jamaica (DBJ) and the Private Sector Organisation of Jamaica (PSOJ) on Wednesday, February 27, 2019.

 
Milverton Reynolds, Managing Director of the DBJ, explained: “The NBMC falls under the Entrepreneurial Development component of a Technical Cooperation Agreement the DBJ signed with the IDB Lab that is aimed at creating a sustained and robust entrepreneurial and early-stage ecosystem for Jamaica.”
 
“The partnership that we have developed with our universities – Edna Manley College of the visual & Performing Arts, Northern Caribbean University, University of Technology and The University of the West Indies – for the executive of the competition is deliberate and is set against the background that university campuses are traditionally, where creativity and critical thinking are honed and maximised.”
 
Now in its sixth consecutive year, the NBMC is an initiative that encourages and promotes entrepreneurship on the campuses of four local universities.  It creates a platform for experiential learning and the honing of entrepreneurial skills, as well as develops a pipeline of potential entrepreneurs.  The NBMC is supported technically and financially by the DBJ and the PSOJ, and the 2019 competition has received strong financial backing from: the IDB-MIF, PanJam Investment, NCB Foundation, GK Capital Management, Sagicor Bank, Scotiabank, Burger King, Musson Foundation, PetroCaribe Development Fund, and Blueprint Consulting.
 
Audrey Richards, Project Coordinator, Jamaica Venture Capital Programme (JVCP), stated: “Once again our student entrepreneurs have come forward and have presented some well thought out and innovative business ideas. The teams entering this year’s competition are diverse and cover areas such as: energies, marine biology and technologies, waste management, security and agri-business.”
 
“We are looking forward to a highly competitive event and we must pay tribute to the coordinators at the various universities who have given their service in preparing the students for competition.”
 
Annually, the national winner is award cash prize of J$2 million and an all-expense paid trip to represent Jamaica at the International Business Model Competition (IBMC) held in the USA during the month of May.
 
Jamaican universities did exceptionally well at the 2018 IBMC – BEASC Technology, representing Northern Caribbean University, won first place, the IBMC’s Global Champion trophy and US$30,000. A second Jamaican team from the University of the West Indies – Eco Structures – placed second and a third team from Jamaica placed in the top 10 out of 42 universities worldwide.
 
The Jamaican teams have signaled their intention to zealously defend the Global Champion trophy and is committed to seeing it returned to Jamaican soil for 2019.
 
The 15 teams entering the 2019 NBMC are:
 
Northern Caribbean University:
 
RESCUE (Renewable Energy Solution Caring the Environment)
An energy device that is aimed at replacing electricity.
 
Marij-Tech
A product that provides manufacturers with material that will replace plastic.
 
SIGHCLEAN 
A system that utilises waste products to generate organic compost for agricultural purposes.
 
Redraft 
An application that converts any hand-written document to a digital text format.
 
 
Edna Manley College:
 
Raaw Solutions
Aims to explore and present organic materials as viable alternatives to more popular destructive substances usually used to manufacture items with high quantitative demand.
 
University of Technology:
 
Xermsol
A bacteria and germ-eliminating device for public spaces.
 
Jascent
Specialises in concocting skin care products to treat skin ailments.
 
Houvers
An invention that preserves fruits and vegetables through the manipulation of ethylene.
 
Mobi Tran
An invention that aids users in immediate language translation. 
 
C2ML
A product that naturally treats yeast infections.
 
 
University of the West Indies:
 
Ja-Bio-Plastics
A company which offers a natural, degradable, compactable alternative to plastic.
 
Pre Labs
A company which develops electronic security products for retail and also the implementation of custom and automated solutions for clients.
 
Align Technologies and Services
A platform for energy consumers, service and loan providers to access software which translates consumer, technical and financial requirements and outputs a desired format.
 
Carib Voxx
A digital media and content generation platform that specialises in the publication and preservation of culture, music and art content.
 
Re-Route
A mobile application platform designed to solve the traffic issues experienced by motorists.
 
 
The University coordinators are Laura Lee Jones and Janice Gore from Edna Manley College of the Visual & Performing Arts; Hazel O’Conner representing Northern Caribbean University’s Morris Centre of Entrepreneurship; Dr. Carol Nathan, Novelette Cooke and Frederick Mills from University of Technology, Jamaica; Ashli Rose Davis and Dawn Morgan from the University of the West Indies, Mona School of Business & Management.