$1M up for grabs in AmCham’s ‘Shark Tank’ competition for young entrepreneurs
Ten entrepreneurs will be chosen from a pool of applicants to participate in a Shark Tank style pitch event— where their business ideas will be evaluated for up to $1,000,000 GYD in funding and capital investment.
With the generous support and collaboration of the United States Embassy in Georgetown, AmCham Guyana welcomes young entrepreneurs between the ages of 21-35 to enter its inaugural “Shark Tank” Business Pitch Competition. The event gives local entrepreneurs the opportunity to present their idea, product or service to a panel of esteemed judges for investment consideration.
The competition aims to provide a platform to introduce and foster a culture of innovation in business, strengthen capacity of young entrepreneurs, and to reinforce AmCham and the U.S Embassy’s commitment to helping innovative youth to increase their competitiveness and turn their ideas into commercial products and/or services. Winners will receive a wide range of support including funding, leadership coaching, networking opportunities, and a bevy of developmental resources.
To participate in this competition, applicants are required to complete the AmCham Guyana Shark Tank Competition Application and submit a 30-60 second video of their business pitch, no later than August 6, 2022. Application forms and information for video entries can be accessed on the AmCham Guyana website https://amcham.gy/shark-tank-competition-application/.
The selection committee will review submissions and 10 applicants will be selected to move to the next round of the competition. All finalists will present their business ideas to a live audience. Judges will offer feedback, and select first, second, and third place winners.
Award compensation includes:
One (1) first-prize winner will receive US$5,000
One (1) second-prize winner will receive US$2,000
One (1) third-prize winner will receive US$1,000
- Submissions may be entered as individuals or teams.
- The maximum number of team members for a single pitch is limited to 5 persons.
- Each individual or team may enter only one idea or concept.
- All applicants must be between the ages of 21 – 35.
- There is no entry fee to become a participant for this competition.
- The participant must hold Guyanese citizenship.
- All finalists must be available to present their business pitch in person.
- Applicants must demonstrate an ability to progress the proposed plan to completion, showing how the prize can accelerate any step along the path to market.
- Businesses with existing professional venture investment are not eligible.
- Non-profit organizations are not eligible.
(AmCham Guyana Press Release)