Competition Rounds, Selection and Awarding of Winners

1. Semi-Finals:

Upon successful completion of the application process, and in accordance with the terms and conditions established by the competition, all registered teams will enter into an online evaluation phase, where a Judging Committee will evaluate the teams according to the established evaluation criteria for the competition.

Only teams who have completed and submitted all requirements will receive feedback from the organizers’ side.

Participating teams that have completed all the requirements and are selected for the next phase are considered Finalists, and will be notified by the organizers. 

Due to the high number of participants, YABT and its partners will publicly announce the Finalists through their official websites. Only Finalist teams will be contacted by a YABT representative.

 

2. Finals: 

For this edition, the Finals will be presented in a Virtual Format, where the Finalists and the international judging committee will interact with each other via an online platform - developed by YABT.  Both the Finalists and the judges will be trained in the usage of the platform before the Finals.  The structure of the presentation by the Finalists will maintain its original structure.     

The Finalists will also have the opportunity to showcase their products and services with an online approach, by each having their own Landing Page, and providing key content about their projects to showcase to all the participants attending the online Finals activities.

The Finals is presented in a Virtual Format this year due to the commitment of strictly following the protective and security measures recommended by the World Health Organization (WHO), due to the international public health emergency situation caused by the COVID-19.



InnovAction will take place across three rounds of competition: the Eligibility Round, the Semi-Finals, and the Finals.

 

Eligibility Round

During the Eligibility Round, YABT will review all Team Profiles and Competition Materials for compliance with the eligibility criteria laid out in the Rules. Teams meeting all eligibility requirements will be assigned to judges and move to the Semi-Finals round. YABT, at their sole discretion, reserves the right to eliminate a Category or Categories if Teams and Competition Materials in that Category fail to reach an adequate level of quality.

 

Semi-Finals Round

During the Semi-Finals round, each Team’s Competition Materials will receive an evaluation and scoring from five Judges according to the Evaluation Criteria (see F. Evaluation Criteria). All Teams participating in the Semi-Finals Round will receive written feedback and recommendations from the Judges who evaluated their Competition Materials.

 

Each Team will receive a score, obtained from a summation of the five judges’ individual scores. YABT will also take into consideration geographical, sectorial and gender representation to make sure Teams with the top scores are equally represented.  The five Teams in each Category with the highest score are considered finalists (“Finalists”) and proceed to the Finals Round; Finalists will be notified at the e-mail address provided at the time of registration. The list of Finalists will also be published on the Website.

 

Prior to the Finals Round, Finalists may revise, update, and resubmit Competition Materials.

 

Finals Round

The Finals Round will take place online. YABT will establish a panel of five judges (“Judges Panel”) for each Category. Finalists will each provide an oral presentation to the Judges Panel assigned to their Category, structured as follows:

  • 5 mins - Setup and preparation.
  • 20 mins - Oral Presentation of Competition Materials, including multimedia presentations, promotional material, and/or elevator pitches.
  • 25 min - Question and answer period with the Judges Panel.

 

Each Judges Panel will independently evaluate and score Finalists in their assigned Category according to the Evaluation Criteria (see F. Evaluation Criteria). All Finalists will receive written feedback and recommendations from the Judges who evaluated their Competition Materials.

 

The decisions of the Judges Panels will be final and not subject to appeal. YABT reserves the right to resolve any discrepancy in the Rules, Terms and Conditions at its sole discretion and convey the determination to the Judges Panels for application.

 

Selection and Awarding of Winners

 

The Finalist with the highest score (based on a summation of the individual judges score) in the Category will be named the Category winner (“Winner”). The four Winners will each receive an awards package (“Award”) valued at $15,000 USD, including:

  • $5,000 USD cash award to serve as seed capital;[1]
  • Six months of follow-on business training support;
  • Promotional opportunities in high-level events, such as the OAS General Assemblies, the Summits of the Americas, and other similar spaces.

 

In order to receive the cash award, Winners must:

  • Formally register their business in their country of operation, if they have not already done so;
  • Submit to YABT financial information and a proposal for the seed capital investment.

 

YABT may announce additional awards or special recognitions at their sole discretion.

 

[1]For Argentinean residents, any deduction, charge or mandatory deposit required by the Federal Public Revenue and/or the Central Bank of Argentina regarding the prize will be in charge of the respective winners. Participants also expressly recognize that there are restrictions that apply to the income of foreign currency in Argentina, assume all related costs and commit themselves to submit to any public or private body that requires any documentation for such purposes.