Regional economic growth is inextricably linked to continued entrepreneurial innovation and expansion. For Caribbean Export the development of effective programs, which help inform policy and foster frameworks that advances entrepreneurship, is paramount.
Through such initiatives Caribbean Export seeks to assist in creating a better understanding of the policies and systems that best drive the creation and growth of world-class brands able to compete in highly competitive export markets. Part of this process was the creation and execution of a special programme called Break Point.
BREAK POINT – Using the Economic Partnership Agreement (EPA) to drive Untrepreneurship
Break Point is a Caribbean Export Development Agency (Caribbean Export) initiative for the CARIFORUM private sector to encourage them to take advantage of the CARIFORUM-EU Economic Partnership Agreement (EPA). Caribbean Export views the EPA as a critical catalyst to achieving long term sustainable growth in the Caribbean region that can break the cycle of debt and economic malaise. The EPA signed by the CARIFORUM member states in October 2008 remains underutilised. This regional business competition aims to fundamentally change the way that Caribbean businesses and entrepreneurs engage the UK and European market. Break Point is jointly funded by Caribbean Export and the Department of International Development (DFID).
Break Point” is defined as: A point of discontinuity, change, or cessation. The objective of this Concept is to:
- Discontinue ineffective mechanisms previously employed
- Change the old “wineskins” and implement new mechanisms
- Cease conducting business as usual
The companies will be judged on the following Criteria:
Demand: Must show clear opportunity for product in the market
Innovation: Must demonstrate a competitive level of product innovation
Brand Strength: Must have a compelling position on which to build the brand
EPA Application: Product must be in a position to benefit from the advantages of the EPA
Speed to Market: Be able to demonstrate market readiness for entry in less than 6-months
Management: Must be able to demonstrate industry knowledge and management experience to lead.
In this Final Round, the winning firms will be provided the once in a lifetime opportunity to deliver their final round pitches to Angel investors, venture capitalists, distributors, retailers etc. for the chance to be funded and/or supported for entry in the EU market using the EPA.
The entire experience and process is filmed for airing in a 13-part episode regional TV series which will demonstrate how advantageous the EPA is for regional business, individual entrepreneurship and innovative ideas.
Break Point – This is the Pont at which we break and begin the process of empowering our regional businesses.