Northern Caribbean University and the University of the west indies Mona pulled off an unprecedented one-two coup at the International Business Model Competition (IBMC) in Provo, Utah last week.
NCU's Beasc Technologies and Eco-Structures, the UWI team, took first and second place respectively competing against 38 other universities worldwide. Three other Jamaican teams were also competing at the event.
Coach Douglas Lindo, who accompanied the teams to Utah, was, understandably, ecstatic. "first and second in our fifth year entering this competition is amazing" he said. The teams pocketed trophies and US$30,000 and $20,000 respectively.
The teams made their pitches before a panel including Ash Maurya, author of Running Lean and Scaling Lean; Start-up Tuscon founder Aaron Eden; David Bland, CEO of Precoil.
Nationally the Business Model Competition is anchored by the Development Bank of Jamaica, with support from the IDB as well as Musson Foundation, Scotiabank Jamaica, PetroCaribe Fund, NCB Foundation, and Restaurants of Jamaica (Burger King).