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Break Point Using the Economic Partnership Agreement (EPA) to drive Entrepreneurship

Break Point

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Break Point. Using the Economic Partnership Agreement (EPA) to drive Entrepreneurship. The Caribbean and Market Penetration. - PowerPoint PPT Presentation

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Page 1: Break Point

BreakPoint

Using the Economic Partnership Agreement (EPA)to drive Entrepreneurship

Page 2: Break Point

The Caribbean and Market Penetration Despite unparalleled access to the majority of

developed country markets in the world for decades the Caribbean has failed to attain significant market penetration in non-traditional markets in Europe through the EPA

This has been attributed to: Poor understanding of the benefits of the EPA Lack of understanding on how to apply it to

businesses A general confusion about all that the EPA contains

Page 3: Break Point

The EPA The Economic Partnership Agreement (EPA) signed

by the Cariforum Member States in October 2008 has since then remained virtually completely unutilized

The EPA presents access to all 27 member states of the EU in areas hitherto inaccessible.

How can the region begin to actively take advantage of the market opportunities presented and achieve actual penetration in the EU market?

What needs to be done differently to get different results?

Page 4: Break Point

Catalyst for Regional Growth Caribbean Export sees the EPA as a

critical catalyst to achieving long term sustainable growth in the Caribbean region

Making the EPA work is a pivotal element in our transformation as a region and in breaking the cycle of debt and economic malaise

Page 5: Break Point

The “Break Point” “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

Page 6: Break Point

The “Break Point” Round 1 Businesses or individuals who believe they possess a

marketable idea ripe for export are given the opportunity to submit a web video synopsis of their idea/product/or service

The Team vets and assesses the viability of the idea and specifically it’s ability to take advantage of the EPA and 30 companies are shortlisted. This is a reflection of 2 per member state.

Round 2 Those 30 companies/individuals are put through an intensive

3 day training programme to further prepare them and fine-tune the business idea for the judging round which are done in the form of live pitches to business experts

Page 7: Break Point

The Break Point Round 3 The 12 best companies/ideas that are

deemed ready to make the best and most rapid use of the EPA with the necessary ingredients for success are provided with the opportunity to travel to London and pitch live to a room of investors and key business executives for funding opportunities and distribution and retail deals.

Page 8: Break Point

Criteria for Qualification Must intend to use the EPA as the

immediate target market for exports

Must possess an idea, product or service which can exploit the EPA within six months from conception

Must be a CARIFORUM majority owned or joint venture

Page 9: Break Point

Criteria for Judging 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.

Page 10: Break Point

The Process The entire experience and process is filmed for airing

in a regional TV series which demonstrates how advantageous the EPA is for regional business, individual entrepreneurship and innovative ideas

Demonstrate that it is all possible

The programme is promoted in all regional territories

Applications are taken online

Those who do not make it to the second round are still provided with tools and support to move the idea and business forward

Page 11: Break Point

The Difference The differences are:

This is specific to the EPA – only those pitches geared at targeting the EU market through the EPA will be allowed to enter

Open to individuals, not just companies with all the prerequisites that accompany those requirements

No procedures – just the idea/ concept/pitch

Will involve private sector/ venture capitalist/ investors from the outset. Determination will be made by the industry experts and entrepreneurs

Page 12: Break Point

The Roll Out The entire 15-member states will have the opportunity to benefit

from Break Point. As part of its roll out the following will take place:

Four Region wide call for entries will be conducted in the following groupings: Group 1: All of OECS Group 2: Barbados, Trinidad, Guyana and Suriname Group 3: Bahamas, Belize, Jamaica Group 4: Haiti and Dominican Republic

Applications are taken online and using the judging criteria, 30 companies are shortlisted from the first round pitch

Judges select 12 finalist to be put through the special developmental and preparation programme for the final round pitch

In the Final round the 12 companies are exposed to opportunities in London to be funded and supported for entry into the EU market using the EPA

Page 13: Break Point

This is the Point at which we break from doing business as usual and begin the process of empowering our regional businesses

BREAK POINT