TIC - Annex I: TIC Dominican Republic

TIC Dominican Republic

The TIC Dominican Republic Category is the national component of the Talent and Innovation Competition of the Americas. It gives the opportunity for young citizens and residents of the Dominican Republic to present their innovative solutions for social, economic and environmental challenges. This category follows the same guidelines and rules of the Talent and Innovation Competition of the Americas.

The Young Americas Business Trust, in partnership with Banreservas, created the first national edition of TIC Americas Dominican Republic with the objective of recognizing and promote the Dominican entrepreneurial talent at the international level, with a particular emphasis on young Dominicans abroad who are interested in developing innovative solutions to common problems in their homeland.

Objective

To identify projects and businesses that directly or indirectly solve in an innovative way problems in the Dominican Republic and generate a positive impact on the social, economic and/or environmental sectors. There is a special emphasis on issues related to migration, strengthening of Diasporas and the development of bilateral ventures between United States and Dominican Republic.

Categories

  1.  Start-up
  2.  Small or Medium Enterprise

Timeline  

January 15, 2016: Official Launch of the TIC Dominican Republic Category
January 15 to February 26, 2016: Support and Training for Entrepreneurs
February 27, 2016: Registration Deadline
April 15, 2016: Announcement of Finalists
June 9 and 10: TIC Americas and TIC Dominican Republic Finals

Languages

Participating teams can complete their deliverables in Spanish or English. The teams that qualify for the Finals must submit printed copies of their business plans in Spanish or English.

Teams

Teams that want to participate in the TIC Dominican Republic must be citizens or legal residents of the country. Multinational teams (from two or more countries) can compete as long as they have the intention of operating their business in the Dominican Republic.

Every team member (excluding mentors) must be between 18 and 34 years of age before the deadline for submissions on February 27, 2016. Proof of age will be required for finalists.

Registration

The deadline to register and submit all deliverables for TIC Dominican Republic via the website is February 27, 2016 at 11:59 pm (Washington DC time).

Requirements

Requirements may vary according to the TIC Americas category in which you want to participate (Start-Up or SME). Fore more information click here.

All documents, videos, links and images must be uploaded to the team’s profile on www.ticamericas.net.

Any document sent via email or in any other form, format or location before or after the deadline will not be accepted.

Evaluation Process

The Evaluation Committee is the highest authority responsible for the evaluation of all participating teams in TIC Dominican Republic.

International Judges will form the Evaluation Committee, which is responsible for the evaluation of teams based on the criteria established in the rules of the competition.

Every team that successfully completes all deliverables according to the category they are participating in will receive feedback at the end of the TIC Dominican Republic process.

Awards

Finalists: Three finalists will receive a full scholarship to participate in the TIC Americas Finals, where they will participate in an international expo in order to present their projects to international stakeholders. 

They will also be eligible to participate in a mentoring session given by business experts from the Israeli International Development Agency for Cooperation, MASHAV, leaders in the design and development of Business Labs. They will also receive institutional support from YABT, the OAS, and all program partners.

The finalists will also have access to training, mentoring and networking sessions with YABT’s partners; these include multinationals and government representatives, international media, investors and an extensive network of entrepreneurs and business leaders in the Western Hemisphere.

Winners: The winning team will receive a cash prize of US$ 4,000 as seed capital. Moreover, they will receive a trophy, the official certificate and access to opportunities for international visibility as winners of TIC Dominican Republic.

All participants of TIC Dominican Republic will become part of the YABT network, which will enable them to have access to new international training opportunities, scholarships, to funds, markets and visibility.

Copyright

Copyright of business ideas contained in the Business Plan and/or Project Plan submitted in TIC Dominican Republic will be property of the participating team that submits them. However, YABT and its partners have the right to be the first choice in any aspect of the project, including but not only restricted to option to invest, implementation, communication, etc.

Principle of Confidentiality

All information submitted by the teams during the online semi-finals phase is considered confidential. Teams will be asked to provide a summary of their project that will be made available to the public through websites, newsletters and TIC Americas’ magazines, YABT and its partners. 

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