The Programme begins with the Vincent HoSang UWI Venture Competition (UWIVC) which is open to all registered students and researchers of the UWI Mona Campus. The Competition is used as an introduction to the overall Programme to prepare the students for a meaningful entrepreneurial journey.
The process of the Competition is as follows:
Participants of the Competition are able to not only win cash prizes and an all-expense paid trip to New York but have the ability to participate in the National Business Model Competition (NBMC) and possibly the International Business Model Competition (IBMC).
The NBMC is one component of the Development Bank of Jamaica's (DBJ), Jamaica Venture Capital Programme (JVCP) that is geared toward building an entrepreneurial ecosystem. The objective of this annual competition is to foster and promote entrepreneurial spirit, creative thinking and collaboration on the campuses of Jamaica’s universities and includes participants from all local universities. This Competition allows start-ups to vie for a chance to win a cash prize to be invested in their businesses and the winner is automatically entered in the International Business Model Competition (USA).
The IBMC is a unique student startup competition focused on the inputs, not the outputs, of the entrepreneurial process. This is also the first and largest lean start-up competition in the world. The Competition requires active identification and validation of crucial business model hypotheses rather than the writing of a static business plan.
This Competition allows for start-ups to win cash prizes to be invested in their business.