Author: godardadmin

Med Regis – an electronic medical records company and Mike’s Bajan Beverages – a producer of fresh local rum-based beverages have tied for the title and have both received a final prize purse of BDS$50,000 each.

These two companies have emerged from the original field of 10 semi-finalists from around the region who were each given BDS $10,000 and one year to work on their company with mentors chosen from a cadre of GEL Managers who were there to advise the companies and lend assistance where necessary and when requested.

At the end of that year, the companies all submitted a progress report, and three finalists were chosen by the judging panel.  The two winners as well as, a third company which specialises in growing mushrooms, were all given BDS$25,000 to work in their company for another year. At the end of that year another progress report was submitted along with financial statements to determine how the organisation was progressing.

At the end of the competition, BB’s Mushroom Farm was edged out by the other two companies which emerged as winners.

The overall idea behind the competition was to give an entrepreneur a real chance to have their business take off from a solid foundation. “So that is why we didn’t just do this in the anniversary year, look at some proposals and hand over the money. We wanted to make sure that the entrepreneur was committed and had a solid plan to move forward. We were therefore prepared for the long haul” stated CEO and Managing Director of GEL Anthony Ali.

The competition was open to all entrepreneurs in Barbados, the Caribbean and Latin America, with a special category for the family of GEL Staff.

The first phase was open to everyone to submit a business proposal. The judges examined the description of the business and its benefits to the community, as well as their analysis of the market and the need for that product or service. They were also asked to describe the competitive advantage of the business. Of course, the judges looked at the financial forecast and generally how the plan was presented.

The 10 semi-finalists who were chosen in 2022 were:

From Jamaica:

• Nella’s TendaRonis – a company producing healthy gluten free pasta
• Z-Rise – a company assisting Caribbean Creative persons

From St. Vincent:

• Cariway – an online tourism tour company,

From Trinidad and Tobago:

• Yalla Mobile Tyre Service – as the name suggests a mobile service to change and sell car tyres

From Barbados were:

• Alluhwi Comics – a locally based producer of comic books
• Jems Gourmet Chocolates – a local chocolatier
• Med Regis – an electronic medical records company
• Mike’s Bajan Beverages – a producer of local rum-based beverages
• BB Mushrooms – a mushroom producer
• Cool Comfortz Frozen Delights – a producer of healthy ice cream alternatives and fruit-based desserts

CEO and MD Anthony Ali complimented the finalists for their resilience in entering and staying with the competition at a time when it would have been difficult, because it took place during the height of the Covid-19 pandemic. This meant that the entrepreneurs had to meet and deal with a number of obstacles they would not normally have encountered in other circumstances.
The winners both thanked GEL for all the help that was given during the duration of the competition and promised to live up to the expectations born out of winning this competition.