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International Competition Open to Young Entrepreneurs from the Americas

  January 29, 2007

The Young Americas Business Trust (YABT), a non-profit affiliate of the Organization of American States (OAS), is inviting young entrepreneurs from the hemisphere to participate in the Talent and Innovation Competition of the Americas, or TIC Americas.

The international contest and awards program is geared toward teams of aspiring entrepreneurs under age 35 from OAS member countries, though young people from other countries may also participate.

Roy Thomasson, Chief Executive Officer of YABT, noted that many young entrepreneurs who start out with ideas and dreams will go on to create jobs and help build a strong economic foundation in the region. “TIC Americas represents an opportunity,” he said. “Everyone who participates will be a winner in terms of the benefits they will gain from the experience.”

Entries are being accepted in five priority sectors: energy, agribusiness, trade, tourism and technology. The competition is based on the preparation and implementation of business plans, but it also incorporates extensive opportunities for training, mentoring and networking, as well as a prototype phase to test market feasibility. Each team that enters must have at least three members.

The deadline for submissions of the final business plan is March 15. Thomasson noted that since last month, when TIC Americas began to accept entries, more than 300 teams have registered. “We want to encourage the broadest possible participation from all around the hemisphere,” he said.

The competition is being held in two stages: on-line semi-finals, followed by on-site finals. The finals will be held in Panama City, Panama, from May 31 to June 1, prior to the OAS General Assembly and following an international YABT conference on “Innovation and Entrepreneurship: A North-South/ East-West Dialogue.”

Eight prizes will be awarded in Business Process, Creative Design, Culture and Traditions, E-business, Spirit of Entrepreneurship, New Markets, and Social Entrepreneurship, plus one prize for finalists from international teams outside the Americas. Prizes will include monetary awards, internships, business- incubation opportunities and travel for a team member to the Global TIC event to be held in Taiwan in August.

YABT is a private-sector initiative affiliated with the OAS General Secretariat that aims to reduce poverty and create jobs for young people through entrepreneurship.

To register or for more complete information, visit TIC Americas on-line (www.ticamericas.net).

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For more information, contact:
Roy Thomasson: [email protected]; 202 458-3641
Luis Viguria: [email protected]; 202 458-6452

Reference: TIC_01_ENG