Intellectual Property Guidelines and Financial Planning for Entrepreneurs
The Caribbean Industrial Research Institute’s (CARIRI’s) Centre for Enterprise Development (CED), Innovation Avenue, Freeport facilitated the hosting, by the Council for Competitiveness and Innovation (CCI), a Workshop for grant beneficiaries of the i2i (idea2innovation) Programme on Friday June 26, 2015. The Workshop focused on Intellectual Property (IP) related issues as well as financial planning. The Workshop was attended by approximately twenty five beneficiaries and they were very much appreciative of the information that they received that would assist them in moving forward in their projects, from concept to proof of business.
The attendees were provided with information on financial planning tools, guidelines on documentation and prudent financial practices. A panel discussion on the Ins and Outs of Intellectual Property in Business was done and this discussion proved to be a rewarding one as it was very interactive. The panel comprised Ashmeer Mohammed (KC Confectionery), Leandro Mohammed (i2i awardee), Shiveta Sooknanan and Richard Aching (IP Office). The panel discussion highlighted and honed in on the need for entrepreneurs to invest in their own ideas.
Entrepreneurs were given guidelines on protection of their ideas, appropriate IP instruments and the need for protection in different geographical locations. Further guidelines on ideas that can be protected and the process involved in applying for protection were also discussed.
Part of this workshop also involved two entrepreneurs presenting business models related to social entrepreneurship. Ms Asiya Mohammed, one of the present i2i beneficiaries, is developing a business which provides training and employment to victims of domestic abuse and Ms Jennifer Raffoul is developing an online web presence where small, local entrepreneurs can sell their indigenous goods internationally.
i2i is a programme through which persons with innovative ideas for projects with potential for business start up/expansion are invited to submit their ideas for screening for an opportunity to secure grant funding and technical support to move those ideas to the proof of concept stage. It is an initiative of the Council for Competitiveness and Innovation (CCI), which falls under the Ministry of Planning and Sustainable and is charged with advancing the Government’s Innovation and Competitiveness agenda.
CARIRI is the technical partner for the i2i programme. The Institute is tasked with overseeing project development activities of awardees during the year long programme towards achieving proof of concept. CARIRI serves as the primary point of contact for awardees, with activities co-ordinated out of its Centre for Enterprise Development in Freeport.