The Guyana Innovation Prize
Fostering Innovative and Entrepreneurship in Guyana
THE GUYANA INNOVATION PRIZE
The Guyana Innovation Prize aims to support economic growth in Guyana by providing much needed capital, mentorship, and community to Guyanese entrepreneurs. The prize awards pre-seed grant funding to commercially viable ideas in agro-processing and tech from students, alumni, and faculty of the University of Guyana.
2019 - 2020 Venture Fellows:
|Tricia Noble||Tandika Harry||Medeba Uzzi||Lawrence Crawford||Sharlene Roberts|
The Guyana Economic Development Trust is an independent, United States – based philanthropic organization that supports early stage enterprise and 21st-Century skills development in Guyana.
Through venture philanthropy, the Trust aims to achieve transformative change by incubating and supporting projects that boost the private sector of Guyana and contribute to workforce development.
The Guyana Economic Development Trust supports private sector enterprise development and modern skills building by sponsoring:
- Innovation - Commercializing and scaling academic research to launch new companies
- Talent Development - Supporting the creation of jobs and providing 21st-century skills training
- Community - Fostering a startup ecosystem that enables the growth of new enterprises
WHY SUPPORT ENTREPRENEURSHIP IN GUYANA?
Guyana currently ranks #22 out of 24 regional countries for entrepreneurial activity. The absence of a startup culture and ecosystem made up of founders, incubators, and platforms to support founder development, and low levels of engagement in startup activity by educated youth, result in low levels of entrepreneurial activity compared with peers in Latin America and the Caribbean.
Entrepreneurship is a source of economic growth in both emerging and advanced economies. Without it, there is limited private sector growth, resulting in few new employment opportunities and limited socio-economic growth.
Today, much of the funding available to Guyanese researchers and entrepreneurs is provided by large foreign aid organizations and international development banks, with limited funds and tailoring to the Guyanese market and its needs. There have been no diaspora-led initiatives to support startup growth and development, or the commercialization of promising academic research - we are aiming to change that with the Guyana Innovation Prize.
HOW WILL YOUR DONATION BE USED?
Your contributions will fund the 2nd Annual Guyana Innovation Prize, a $10,000 USD investment in the Venture Fellow with the most commercially viable business, to further develop, deliver, and scale their research-turned-product and business.