THE American Chamber of Commerce of Guyana (AmCham) in collaboration with the United States of America (USA) Embassy is hosting its first Shark Tank-style pitch event for young entrepreneurs between the ages of 21- 25 years.

Through the project, budding and existing entrepreneurs will have an opportunity to secure financing of $1 million once their business pitch is selected.
According to a post on AmCham Guyana’s Facebook page, the event gives local entrepreneurs the opportunity to present their ideas, products or services to a panel of esteemed judges for investment consideration.

“The competition aims to provide a platform to introduce and foster a culture of innovation in business, strengthen the capacity of young entrepreneurs, and reinforce AmCham and the US Embassy’s commitment to helping innovative youth to increase their competitiveness and turn their ideas into commercial products and/or services. Winners will receive a wide range of support including funding, leadership coaching, networking opportunities and a bevy of developmental resources,” the chamber said.

The young entrepreneurs will be required to complete the AmCham Guvana Shark Tank application, detailing their ideas for new commercial products or services, along with a 30-60 second video presentation.
Ten applicants will be shortlisted by a panel of five local business leaders and those nominees will be asked to submit a more detailed description of their products or services and to personally present their respective business pitches to these judges at a later date.

All finalists will receive professional business coaching on refining their business plans and creating pitch decks and several business leaders will act as “sharks” and ask questions to the finalists, who will defend their innovations and make a case for their feasibility.