As the deadline for submissions for the National Innovation Competition approaches, Barbadians are reminded to bring their best ideas – from the simple to the complex – to the table.
The first stage of the competition, which is facilitated by the National Council for Science and Technology (NCST), will officially end on Friday, September 30. Over the next 30 days, participants will submit a two-page summary explaining their idea, demonstrating its innovativeness and illustrating benefits to the market. In addition, the suggested concept must have the potential for commercialisation and the implementation cost must not exceed $325,000.
In phase two of the exercise, which runs from October 2011 to January 2012, 10 entrants will be chosen and given technical assistance to formulate a business plan.
During the final stage, which will be conducted in February 2012, a presentation of proposals will be made; then, in March, an awards ceremony will be held where the winner will receive $75,000 to make his or her idea a commercial reality.
For registration forms and additional information on the National Innovation Competition, persons are advised to contact the NCST at 427-5270.