The Scotiabank Vision Achiever Programme Business Plan Competition 2018 Edition is open to Guyanese residents, 18 years and above, who are interested in starting a business as well as existing small business owners who want to expand their business. Employees of Scotiabank (hereinafter referred to as “the Bank”) and/or those living in the same household of each and their immediate families (spouses, parents, children and siblings and their respective spouses), its Advertising Agency and/or those living in the same household of each, members of the Georgetown Chamber of Commerce and Industry and finalists in past business plan competitions run by Scotiabank, are not eligible to participate in this competition.
• Record a one minute video pitch of your business idea and send it via WeTransfer (https://wetransfer.com/) to firstname.lastname@example.org
• Deadline for submission of videos is April 25, 2018. Entrants must include in the pitch name of entrant; name of business; description of business; what problem the product/service is addressing; financial viability of the business; why persons should vote for this idea.
• The videos will be uploaded to facebook.com/ScotiabankGY by April 30, 2018 for public voting via likes/reactions/positive comments
• Entrants must promote their videos ethically, i.e. by sharing and encouraging persons to share and like/react to their videos.
• Purchasing of likes/reactions will lead to disqualification.
• Public voting will end at 21:00hrs on May 11, 2018 and the top three pitches will go through to the finals along with two wildcards identified by the judges.
• The five finalists will be required to attend business training by ActionCOACH from June to August 2018.
• The five finalists will be required to use Scotiabank’s free online Business Plan Writer tool to prepare a Business Plan during their ActionCOACH sessions (submission deadline August 31, 2018). The tool is accessed at guyana.scotiabank.com under Small Business, Tools and Advice.
• The five finalists will be required to pitch their idea on television to a panel of judges.
• The scores from the Business Plan and the television pitch will be tallied to arrive at the winners.
• Finalists who do not complete the Business Plan and television pitch segments of the competition will have to repay the cost of the ActionCOACH training.
• The winner and runner-up will receive a $1,000,000.00 and $500,000.00 start up business account respectively while all five finalists will benefit from the ActionCOACH business training.
• Competition is open to start ups as well as existing businesses, and past entrants to this competition who did not make it to the finals
• Businesses should have no more than 20 employees with average gross annual revenue of no more than$60M
• Total investment should be between $5 and $50 million
• Judging will be done by an independent panel comprising members of the Georgetown Chamber of Commerce and Industry, business owners and Scotiabank business banking officers
• The Business Plan submissions will be evaluated based on the overall feasibility of the plan
CONSUMER DISCLOSURE/NOTIFICATION OF WINNER
The winners will be announced during the week of September 24, 2018
The winners will be required to sign an Affidavit of Eligibility/Prize Acceptance and Release. Completion and signing of the Affidavit must be done within seven (7) days of the official notification from the Bank, in order to confirm the winner.
The winners’ names will be published in the media. The winners must agree to the use of his or her names and photographs without compensation in any forthcoming publicity by Scotiabank. The winners will also be responsible for any taxes, insurance and expenses not explicitly stated as part of their prize. The winner will forfeit prizes not collected within one (1) week after the winner has been duly notified, without any subsequent compensation to them.