Enterprise Cayman is inviting entrepreneurs to apply for the annual Cayman Islands Business Design Competition – an innovative ideate programme and pre-seed initiative helping individuals to launch their next big idea!
George Town, Grand Cayman, Cayman Islands (1 November 2024) – Enterprise Cayman has announced that the 5th annual Cayman Islands Business Design Competitionhttps://www.enterprisecayman.ky/business-design-competition is now open for submissions. Creative individuals, businesses, and entrepreneurs are invited to take part in the high-impact competition to help launch their next innovative business idea.
The Cayman Islands Business Design Competition produced by Enterprise Caymanhttps://www.enterprisecayman.ky/ and sponsored by Cayman Enterprise City (CEC)https://www.caymanenterprisecity.com/, has been designed to support Caymanians and residents of the Cayman Islands in kick-starting new business products, services, and/or features quickly while helping to reduce the risk of bringing new ideas to market. The competition provides entrepreneurs and innovators access to professional support networks, a curated series of workshops, and significant networking opportunities.
The competition is open to Caymanians and residents of the Cayman Islands over 18 years, and thanks to the support from CEC, is completely free for all entrants. “The Business Design Competition plays a key role in expanding Cayman’s thriving innovative ecosystem,” said Alyssa Manderson, Programme and Events Coordinator at Enterprise Cayman. “The competition encourages the exchange of knowledge amongst professionals and fuels business innovation. Witnessing the evolution of participants throughout the 2024 competition was exhilarating and highlighted the abundant creativity and entrepreneurial talent that we have here, in Cayman. We eagerly anticipate collaborating with the finalists of the 2025 competition and can’t wait to see what they will accomplish.”
Participants are invited to compete as individuals, or in teams of up to four members. Ten finalists will be selected in late February 2025 to develop their ideas with the help of professional advisors and a network of seasoned entrepreneurs. The competition kicks off with three hands-on “Design Days,” where participants dive into interactive workshops to build essential entrepreneurial skills. These energising sessions pave the way for the big finale, “Pitch Day,” when competitors take the stage to present their projects before a live audience and a panel of expert judges. Teams will be competing for cash prizes up to USD $10,000, sponsored wraparound business services valued up to USD $10,000, and five competition awards including the “Project of the Year Award”, the “Community Impact Award”, the “Innovation Award”, the “Best Storyteller Award”, and the “People’s Choice Award”.
Hunted Offshore by Kayleigh Wright took home the 2024 “Project of the Year Award”. “I am so grateful that I got to participate in the Business Design Competition, sponsored by CEC, and that Hunted Offshore was chosen as the business of the year,” said Kayleigh Wright. “From the moment I reached out when I saw the competition advertised the team was incredibly responsive. The support from advisors of the Enterprise Cayman team and fellow competitors was very helpful and encouraging. I’m more excited than ever and ready to make my business idea become a reality.”
The deadline to apply to the Cayman Islands Business Design competition is 31 January 2025. Members of the public are invited to attend an online information session which is set to take place Friday, 24 January 2025 at 12:00 pm. For competition details and to apply, visit https://www.enterprisecayman.ky/business-design-competitionhttps://www.enterprisecayman.ky/business-design-competition.
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