Recently, Northern Caribbean University held the
fourth staging of the Morris Entrepreneurship Centre’s Business Model Canvas Competition
to select the institution’s representatives at this year’s National Business
Model Competition. The main sponsors of this event were Fontana Pharmacy,
National Commercial Bank and Jamaica Money Market Brokers.
Since the start of the Development Bank of
Jamaica’s National Business Model Competition in 2014, NCU has dominated the
competition, being named winners for the three years of its staging.
During the past three years, NCU has gone on to
represent Jamaica at the global championships, placing within the top 10 each
of the years, going up against no less than 500 student teams from all over the
globe. Last year NCU’s team Guardana placed sixth in the world.
Hazel O’Connor, Executive Director of Morris Entrepreneurship
Mrs Hazel O’Connor, Executive Director of Morris
Entrepreneurship Centre, gave an overview of the Business Model Competition.
“The Business Model Competition exposes
students to the possibilities of creating their own employment, to employ
others and to create wealth,” she explained.
She pointed out that her students embarked on a
twelve-week journey to develop a business model embraced by the international
business community, one which has been proven to drive the success of new
business ventures. This canvas is about the customer and not the product in the
There were four teams vying for three available spots to
represent NCU at the national level. Team Natsima came out on top. They
developed a product with all natural ingredients of garlic, Guinea hen weed and
ginger to treat sinusitis, colds and flu which would in turn prevent asthma
attacks from occurring. The substance developed would be placed in a vapourizer
to be inhaled by users.
Oshane Solomon of team Natsima demonstrates to the judges how to use their product
Second place went to team ‘Genesis Way’, with
their development of Ackee Butter. This was developed as the healthy
alternative to regular butter and margarine. In third place was team SOTARE.
Their business canvas was focussed on increasing the production of yam, by way
of scientific method which they call ‘RootTube’, which is customized to improve
quality, quantity and enhance growth rate of yams.
These three teams will represent NCU at the
DBJ’s National Business Model Competition, this year scheduled for March 23 and 24 .
For more photographic highlights of this event, click here