Notice for CARIFORUM Firms
Invitation to participate in Break Point 2012
April 2nd– August 8th, 2012
Break Point is a Caribbean Export Development Agency (Caribbean Export) initiative for the CARIFORUM private sector to encourage them to take advantage of the CARIFORUM-EU Economic Partnership Agreement (EPA). Caribbean Export views the EPA as a critical catalyst to achieving long term sustainable growth in the Caribbean region that can break the cycle of debt and economic malaise. The EPA signed by the CARIFORUM member states in October 2008 has for the past three (3) years remained underutilised. This regional business competition aims to fundamentally change the way that Caribbean businesses and entrepreneurs engage the UK and European market. Break Point is jointly funded by Caribbean Export and the Department of International Development (DFID).
Break Point Structure
Break Point will be implemented in six (6) phases as outlined below:
Phase 1: VIDEO PITCHES, EOI APPLICATION FORM & EXECUTIVE SUMMARY
Interested firms must create a two (2) minute video pitch explaining why they should be selected to move forward in the Break Point competition. Firms must answer the following questions in their video pitch:
- What is your company’s name?
- What is your product/service and which industry does it fall under?
- What is the current and projected demand for your product/service?
- What makes your product/service innovative and differentiates it from the competition?
- What markets are you presently servicing?
- What evidence can you provide to prove that your company will be able to demonstrate market readiness in less than six (6) months?
- What management expertise does your team possess to successfully lead the company?
In addition to the video pitch, firms must also submit:
1) The Expression of Interest Application Form
2) A One Page Business Plan Executive Summary
These documents along with the two (2) to three (3) minute video pitch should be submitted together no later than 4:30 pm EST on Monday, April 16th, 2012.
Instructions for Video Pitch Submissions are as follows:
- Create a YouTube Account or Sign in to existing YouTube account;
- Create your 2-3 minute video clip using webcam, camera, phone camera, etc. ;
YouTube supports the following file formats:
- WebM files – Vp8 video codec and Vorbis Audio codecs
- MPEG4, 3GPP and MOV files – Typically supporting h264, mpeg4 video codecs, and AAC audio codec
- AVI – Many cameras output this format – typically the video codec is MJPEG and audio is PCM
- MPEGPS – Typically supporting MPEG2 video codec and MP2 audio
- FLV – Adobe-FLV1 video codec, MP3 audio
- Click on “Upload” at the top right of YouTube webpage, where you will be able to upload the video clip you created by clicking on “Select files from your computer”. You could also create the video clip using your webcam by selecting “Record from Webcam”;
- Select the uploaded video that you want to share with Caribbean Export, then, click the Edit button;
- Under the Broadcasting and Sharing Options section (on the left-hand side of the page towards the bottom) you’ll see Privacy options. Click the little black arrow / triangle to expand and see all your privacy options (if it’s not already open and you cannot see your privacy options);
- If the video is set to Private, you’ll see a section to enter up to 50 YouTube usernames that will have access to your private video.
- Enter Caribbean Export’s username “TheCaribbeanExport” and then save
For more instructions, please see support link below:
Phase 2: SCREENING & FIRM SELECTION
All submissions will be reviewed during the period April 16th to 20th, 2012. A maximum of thirty (30) CARIFORUM firms (2 per member state) will be selected to move forward in the competition. Firms will be notified of the status of their submission by Monday April 23rd, 2012.
Phase 3: FIRM COACHING
The thirty (30) firms selected will be required to participate in a one (1) day coaching exercise which will take place between May 7th– 9th, 2012 in Barbados. Each day, ten (10) firms will participate in this exercise and will be assigned a Business Coach who will provide one-on-one guidance on the firm’s power point presentation. It is envisaged that some of the coaching will also be virtual (online) between the Coach and firm. In preparation for the one (1) day coaching exercise firms will be expected to submit the first draft of their presentations to Caribbean Export no later than May 2nd, 2012. More details of this coaching exercise will be provided to firms once they have been selected.
Phase 4: Round 1- BUSINESS PITCHES
After each business has participated in coaching sessions they will be required to make their pitches in one of four country locations based on the following group allocations:
Group 1: Firms from Barbados, Trinidad, Guyana and Suriname will present in Trinidad on May 21st, 2012
Group 2: Firms from the Bahamas, Belize, and Jamaica will present in Jamaica on June 7th, 2012
Group 3: Firms from the OECS will present in Antigua on June 11th, 2012
Group 4: Firms from Haiti and the Dominican Republic will present in the Dominican Republic on June 15th, 2012
More details on the actual venues and travel arrangements will be provided to firms in due course.
Phase 5: FIRM SELECTION
Upon completion of all rounds of pitching, twelve (12) firms will be notified as to whether they have advanced to the final phase in the Break Point competition. Firms will be notified of their status in the competition by Friday June 22nd, 2012.
PHASE 6: Final Round-BUSINESS PITCHES
The twelve firms that have been selected by the judges will have the opportunity to pitch their business ideas to prospective investors, distributors and retailers in London on August 8th, 2012.
Please Note: Break Point will be filmed and made into a reality television series to be aired upon completion of the competition; therefore all interested firms must be willing and prepared to appear on public television.
- Intend to use the EPA as a tool to immediately target the UK and EU markets for exports
- Possess an idea, product or service which can exploit the EPA within six (6) months from conception
- Be a CARIFORUM majority owned or joint venture
- Have a business with products that are related to the following areas:
- Light manufacturing
- Creative industries
- Professional services
- Specialized tourism
- Alternative energy
Criteria for selection
Firms will be selected on the basis of the following selection criteria:
For further information on the judging criteria, please refer to the “Break Point Evaluation Score Sheet.”
Firms interested in participating in Break Point, are asked to make their electronic submissions to:
Mr. Damien Sorhaindo at email@example.com and copied to
Mrs. Robertha Reid at firstname.lastname@example.org
Submissions for the first phase must be made no later than 4:30pm EST on Monday, April 16th, 2012.
To view the Break Point EOI Application Form please click here.
To view the Break Point Evaluation Score Sheet please click here.
Click here for more information