C/o Holder and Company 37 Roebuck Street, Bridgetown, St Michael, Barbados

Email: psinvestments.bb@gmail.com

The 2K Business Idea Challenge

The race is not for the swift, but who endureth
Competition Details
Many persons are seeing entrepreneurship as the vehicle to prosperity. Being in charge of ones
destiny is the sought after circumstance but destiny is not a matter of chance, but of choice. Not
something to wish for, but something to obtain. To achieve ones destiny, the entrepreneur must
be hard working, perseverant and have access to a good support system.
Prudential Secure Investments is fully aware that one person will not posses all of the requisite
knowledge, skills and/or resources needed to start, run and grow a successful business. As a
result we have started the 2K Business Idea Challenge to bridge that gap and highlight the fact
that more can be achieved as a group as opposed to individually.
The 2K Business Idea Challenge comprises of two phases: (1) the submission of a summary
document for an idea and; (2) the presentation of said idea to a panel of judges. Those who wish
to access the professional assistance and equity finance being offered to the winner of the 2K
Business Idea Challenge can submit their idea to 2kidea@thinkpsi.com no later than November
6th, 2015
Eligibility
To be eligible, the following criteria must be meet:

Submissions may be entered by individuals or multi-person teams

The entrant(s) may seek advice or coaching to formulate the required document.

Entries must be the original work of the entrant(s).

The entrant(s) must reside in Barbados.

The business must be domiciled in Barbados.

The entrant(s) must be eighteen years of age or older.

The entrant(s) must be present for the final awards ceremony. Failure to attend will result
in forfeiture of any prize won.
Award
The winner receives: BDS $2000 in equity finance and professional assistance (legal, business
development, accounting and taxation) to start, run and/or grow the successful business.

Submission Requirements for Phase One

The document must contain:
(1) one cover page;
(2) a two-page summary of the idea;
(3) an appendix (maximum of three pages);
(4) a one page summary, listing key accomplishments of the individual or team members.
Submissions must not exceed 7 pages, single-spaced, in size 12 point Times New Roman font,
minimum inch margins (vertical and horizontal), Standard 8.5 x 11 paper.
No additional pages are allowed. Entries will be penalised or disqualified if this requirement is
not adhered to.
Entries must be in PDF format and emailed to 2kidea@thinkpsi.com by November 6th 2015.
Summary Document
In your Summary document, please explain:
1.
Market opportunity
2.
Organisation mission/goals
3.
Products or services offered
4.
Marketing and distribution (including pricing strategy and positioning)
5.
Operations
6.
Human resources
7.
Growth plan
Appendix
You can use these pages to enhance the Summary Document. This should not be an extension of
the Summary Document, but complementary. These pages may be used for the following
purposes:

Documents: Purchase orders, Quotations, Agreements or Letters of Intent

Photographs: Pictures of the product or its prototype
Financial information: Budget, financial forecasts or break-even analysis
Charts and Diagrams: Organisational Charts, market research findings or customer data

The pages must be submitted in PDF format as one file. Please note that application materials are
printed out for the judges to review, therefore hyperlinks should not be included.
Dates to remember
Activity
Launch of challenge
Closing date for submissions
Top 5 submissions selected and entrants contacted
Top 5 entrants, pitch to the judges
Award presentation

Date
October 16th
November 6th
November 7-14th
November 16th
November 22nd

Prudential Secure Investments decision on the eligibility of any entrant is final and cannot be
appealed.
Judging Guidelines
The judges will consider the following criteria when evaluating the summary and pitches. The
following is not an exhaustive list and the final decision may be influenced by other factors:
01.
02.
03.
04.
05.
06.
07.
08.
09.
10.
11.
12.
13.
14.

Is the market for the business currently large or small?

What is the size of the target market and the growth potential of said market?
How impactful is the idea going to be on its targeted customer?
Can the business generate and/or increase revenue within 12 months?
What is the competitive advantage of the business and how sustainable is it?
What evidence is there that supports the stated claims?
How original is the idea?
Who are your competitors and what are their strategies (if applicable)?
How credible (believable) is the entrepreneur and how feasible the business idea is?
How profitable is the business going to be in the long run?
Do you have the right team to execute your stated goals?
What are you expecting from the investors?
Can you prove that your technology, if applicable, is executable?
What is the go-to- market strategy? How will the product/service be marketed and sold?

The Judging Panel of the 2K Business Idea Challenge reserves the right to disqualify any entry
that brings the challenge into disrepute or violates the guidelines and/or rules of said challenge.
The decisions of the Judging Panel are final and binding.
Confidentiality
Prudential Secure Investments will take all possible measures to ensure the confidentiality of the
business ideas. However, as with any other competition of this kind, the ultimate responsibility
of protecting intellectual property lies with each entrant.
Disqualification
a)
Copyright infringement and intellectual property theft is strictly prohibited and will result
in disqualification.
b)

Colluding with other competitors is strictly forbidden, and will result in disqualification.

c)
Contacting any member of the judging panel during to the competition may result in
disqualification.
d)
Those that are found to be competing in the competition through a proxy or as a proxy
will be disqualified.
e)
Prudential Secure Investments has attempted to provide comprehensive rules and
guidelines for the 2K Business Idea Challenge. However we acknowledge that no set of rules,

however thorough, can address every possible circumstance, therefore, Prudential Secure
Investments reserves the right to disqualify any competitor should we deem it necessary.
Agreement
By submitting the documented idea, you represent and warrant to Prudential Secure Investments
that you have all right, title and/or interest in the summary submitted, and the information it
contains is accurate and complete, and that by submitting the document to the 2K Business Idea
Challenge you are not and will not be violating any contract or third party rights including any
patent, copyright, trade secret, proprietary or confidential information, trademark, publicity or
privacy right.
By submitting a documented idea to the Prudential Secure Investments 2K Business Idea
Challenge, you confirm your understanding and acceptance of the rules and terms governing the
2K Business Idea Challenge.
Prudential Secure Investments reserves the right to modify any aspect of the competition at any
given time.
Press
The entrants may be required to participate in media and press opportunities related to the 2K
Business Idea Challenge. This may include, but is not limited to:
- being asked to provide a short description (approximately 175 words) of the idea that may be
made available to the media and/or the general public, either in part or in its entirety;
- being asked to speak to the media with respect to the 2K Business Idea Challenge;
- being asked to provide content (audio, visual or print) for competition related press releases.
Entrants are not obligated to disclose any proprietary or confidential information related to their
businesses.