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Business Design Competition open to all Cayman residents Loop Cayman Islands

Cayman Enterprise City is encouraging members of the public to participate in the Cayman Islands Business Design Competition, the entry deadline for which is January 31, 2023.

According to Cayman Enterprise City, the purpose of the competition is to provide “a platform where innovators can connect” and to foster an environment of innovation “where individuals, local businesses, and global ventures can thrive.”

Cayman Enterprise City added:

Successful applicants will take part in training sessions and workshops based on Design Sprint exercises, a five-phase process to help competitors reduce the risk of bringing new products, services, or features to market. Competitors will have one month to streamline new project ideas and work with professional advisors before presenting their final idea and “pitch” to a panel of judges — think “Cayman Islands Shark Tank”!

Any person over 18 and a Cayman Islands resident may apply by the deadline of January 31, 2023, and participate as individuals or in teams of up to four persons.

It should be noted, however, that when completing the registration form for the competition, each person will be asked to confirm that they are submitting their original idea and not infringing on anyone else’s intellectual property rights.

Prizes listed by Cayman Enterprise City include:

Project of the Year for a business design that shines above and beyond competition expectations. The grand prize for the “Project of the Year” is USD 10,000 plus wraparound business servicesCreativity Award, for a business design that is inspiring, new or unconventional with a USD 2,000 cash prize and wraparound business servicesCommunity Impact Award, for a business design that makes a difference in our local and/or global communities with a USD 2,000 cash prize and wraparound business services

In addition, all finalists will receive a business support “Prize Pack” valued at over USD 1,500.

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Registration may be completed using the following link:

Finalists are expected to be announced online by February 13, 2023.

For more information, members of the public may email [email protected].