Bridgetown, Barbados, August 12th, 2011– Barbadian university student, Shamkoe Pile, is the winner of the 2011 CIBC FirstCaribbean International Bank-sponsored Business Plan Competition held by the University of the West Indies’ Student Entrepreneurial Empowerment Development (SEED) project.
At the awards ceremony held recently at the 3W’S Pavilion, Cave Hill Campus, Pile emerged victorious from a field of five finalists with her business plan proposal for “Skai Multimedia”. She is the holder of a first class honors degree in Mass Communications, and is presently pursuing a Masters degree in Project Management and Evaluation.
Grenadian, Shivelyn Boney placed second with a proposal for “Caribbean Cuisines”, while Gamal Chrichton of St. Vincent and the Grenadines was third with “Genephi Monler”. Barbadian Heritage Studies graduate, David Michael placed fourth with “Echoes Caribbean” while Leslie-Ann Colbourne of Antigua was fifth with her “Memorable Occasions” business proposal.
All the finalists will benefit from the support of CIBC FirstCaribbean, which was praised by UWI’s Head of the Department of Management Studies, and Chair of SEED, Dr. Justin Robinson, and SEED Coordinator, Ms. Ayanna Young Marshall for its generous contribution of US$45,000 to the SEED programme over a three-year period.
In thanking the Bank, Dr. Robinson said he was heartened to see that entrepreneurship was more than a buzzword. “This business plan function is really the culmination of a journey for these students who would have started attending workshops on entrepreneurship and personal development two years ago.
So it’s a process. We would consider this process a success if at least half of the students took their plans and started a business,” Dr. Robinson said.
Presenting the awards on behalf of CIBC FirstCaribbean, Ms. Debra King, the Bank’s Director, Corporate Communications said the occasion brought great pleasure to the Bank because it was the culmination of the current Memorandum of Understanding between CIBC FirstCaribbean and the UWI.
She also noted the Bank’s work with Junior Achievement programmes in promoting finance and business skills, in addition to partnering with Caribbean Youth Business programmes including the Barbados Youth Business Trust.
“CIBC FirstCaribbean through its Corporate Social Responsibility programme supports entrepreneurship and the industriousness of our youth.
We have made a commitment through several MOU with regional organisations to foster an entrepreneurial spirit amongst the people of the region as a means of combating youth poverty and unemployment,” Ms. King said.
The Director of Corporate Communications added: “As the place where the region’s future leaders are forged, the University quite rightly should be at the forefront of finding solutions to real-life issues facing the Caribbean.
Furthermore, programmes like this that will offer our young people the viable alternative of being able to develop their own businesses are more than welcome especially in the economic climate across the region.”
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