Opportunity of access to capital for young Dominicans

Dominican Republic, February 12, 2016 – BanReservas, in partnership with the Organization of American States (OAS) and the Young Americas Business Trust (YABT), brought together young Dominican entrepreneurs to participate in the national edition of the Talent and Innovation Competition of the Americas, an initiative that the financial institution will support by granting the winners seed capital of $4,000 US dollars.

Enrique Ramírez Paniagua, general manager of the financial institution, explained that the intent of the Bank, by creating the category TIC Dominican Republic, is to offer opportunities to youth between 18 and 34 years old that present innovative solutions for problems or situations that are priority in the country.

Ramírez Paniagua emphasized that the work of the entrepreneurs that generates social, economic or environmental changes will be rewarded. The bank executive spoke at a press conference with Luis Viguria, CEO of YABT; Isabella Troconis, coordinator of TIC Americas; Araceli Azuara, Permanent Representative of the Secretary General of the OAS, and Michael Jacobo, program manager for CREE BanReservas.

“The young entrepreneurs that participate will have access to mentoring, training and a network of over 70 thousand youths and a thousand institutions from 75 countries,” outlined Ramírez Paniagua.

The deadline to submit entries will be February 27, 2016. To obtain more details, visit the webpage www.ticamericas.net.

An evaluation committee, composed of judges from different parts of the world, will be the highest authority in charge of the qualification of all the participating teams in TIC Dominican Republic.

Categories for innovators

The representatives of the OAS, TIC Americas and YABT explained that youths that are citizens or legal residents of Dominican Republic, as well as young Dominicans living abroad that are interested in entrepreneurship or developing an innovative solution in their native country can participate in the categories “Start-Up” and “Small and medium enterprises (SME).”

In addition they will be eligible to participate in a mentoring session given by business experts of the Israeli Agency for the International Development Cooperation MASHAV, leaders in the creation and development of Business Labs.

Furthermore, those selected will receive the support of the YABT and the OAS, and from all of the partners of the program. Also they can go to the International Conference on High Impact Entrepreneurship in Bogota, Colombia.

The three final teams will receive a full scholarship to participate in the TIC Americas finals, where they will participate in an international expo to present their initiatives in June of this year, in Santo Domingo.

Source: Office of Public Relations – BanReservas