2016-17 Katalyxt Youth Innovators Competition
KATALYXT IS a division of Mint Management and Finance Services Limited with the responsibility of aiding the growth and development of small and medium enterprises in Jamaica. The long-term goal is to develop the Jamaican business community by the identification and training of existing and prospective entrepreneurs to increase their chances of success. The business development conference is one of the mediums through which they assist individuals to identify critical success factors for businesses and plan effective strategies to chart the course for growth and development.
This year marked the sixth staging of the annual Katalyxt Youth Innovators’ Competition (YIC), which ran from November 2016 to April 2017. The objective of this competition is to engage young innovators – from third to six forms – to participate and develop an appetite for innovation. This project seeks to invest in
the entrepreneurial potential of Jamaican youth, while instilling in them the necessary business acumen. It also aims to prepare students to be movers and shakers of tomorrow’s business industries, be they manufacturing, energy, technology, agriculture, amongst others.
Students were drawn from science, business, and home economics clubs to focus on entrepreneurship and enterprise. Thereafter, students and advisers organised teams to represent the schools by submitting an innovative product or service which has an element of originality. Schools were permitted to submit more than one entries. The products and services submitted were judged based on creativity and innovation, execution of product, marketability, and value added, presentation and design, to name a few.
In this year’s competition, we continued our judging categories: the ‘Big Idea! Award’ the ‘Sustainability Award’ ‘Team Leader’s Award,’ ‘Top Teacher’s Award’ and the ‘Businessman’s Pick’.
The Workshop and Announcement Ceremony was held atThe Knutsford Court Hotel on Thursday, May 11, 2017. Cheryll Stewart (moderator) acknowledged the sponsors and stakeholders: Development Bank of Jamaica, EXIM Bank, Bank of Nova Scotia, TruJuice, Jamaica Producers, Jamaica Association for Micro Financing, HEART Trust-NTA, endorsed by the Ministry of Education, Youth and Information. Katalyxt team leader Winsome Minott then took to the podium and welcomed guests. Greetings were received by representatives of the Development Bank Jamaica, Mrs L. Cheddesingh; EXIM Bank Jamaica, Mrs N. Crum-Ewing; and Ministry of Education, Youth and Information, Mrs S. Forbes-Hall.
The ceremony featured three speakers: Mr Marcus Richards, financial entrepreneur; Mr Ralston Hyman, economists and Ms Balie Denniston, youth entrepreneur.
Mr Richards spoke about the hardship of growing up and how he found innovative ways to finance his way through university. It was his entrepreneurial spirit and his vision that allowed him to rise above, navigate and overcome unconventional demands and challenges, allowing him to thrive and reap success at the highest level possible in his industry.
Mr Ralston Hyman spoke to the ‘microwave mentality’ – that is, the ‘quick fix.’ He encouraged students to dismiss the get-rich-quick notion, stating that sweet success comes from hard work, discipline, training and ‘stick-to-itiveness’. Hyman reminded teachers and students that it was exposure to competitions like Katalyxt Youth Innovators that foster and aid in the growth and development of budding entrepreneurs which builds character and confidence.
Ms Balie Denniston, a youth entrepreneur who first pursued her LLB, subsequently went on to pursue her dream of having her own business. She encouraged students to pursue their dreams and that during their hard days, they should never give up but, instead, al w a y s perservere.