The Dominica Manufacturers Association (DMA) has officially launched its ‘Make Something to Sell’ (MSTS) Competition geared at facilitating more effective growth and development of young manufacturers on the Dominican market.
The initiative was launched at the National Development Foundation of Dominica (NDFD) on Friday and is in partnership with the Ministry of Trade, Commerce, Entrepreneurship, Innovation, Business and Export Development, Junior Achievement Dominica, Dominica Youth Business Trust (DYBT), National Development Foundation of Dominica (NDFD), Dominica Bureau of Standards and the Dominica Association of Industry and Commerce.
“Often times, young or new manufacturers encounter challenges when trying to start off their ventures. They may not be aware of the path of least resistance and so this activity is geared at guiding them through that path, ensuring that their products meet market requirements before they are put out on the shelf,” Secretary of the DMA, Naomi Bannis-Sampson said.
She said the format of the competition is a two-part event consisting of a virtual five training sessions under the theme: “Getting Ready for the Market”.
The training is opened for all manufacturers in Dominica and will take place on July 26th-30th and the following topics will be covered: Good manufacturing practices, product costing and pricing, product development, product labeling requirements and marketing.
Bannis-Sampson explained the second part of the competition is the one-day competitive event with the theme: “Supporting Local”.
This event is expected to take place on the 20th of August, 2021 and the venue will be announced at a later date.
“Competitors will be required to use the information learned at the 5-day virtual training sessions to make significant improvements to the products,” she noted.
She continued, “The competitors will be required to prepare a 10 minutes pitch on their business idea that they will present to potential investors.”
Bannis-Sampson added, “Competitors will be required to display and sell if possible their prototypes or their products.”
She mentioned further that the competitors will be judged in two categories, “the display of your products where the participants will be judged based on the following criteria, improvement made on their prototype or their product which is based on the training that they would have received in the 5 days, whether their products are innovative, the sustainability of their products, originality or creativity and there is an aspect which we want to use to encourage persons to visit the competition on the day.”
Bannis- Sampson went on to say the second part of the competition which is the ‘pitching’.
The competition is opened to all manufacturers who are either intending to operate or who are currently operating in Dominica, but not for more than 3 years.
She revealed that the prizes to be won are valued at over $10,000.
“The first place winner will receive a cash prize, a consultation on product development, discounts on testing services at the Bureau of Standards, mentorship and coaching, a waiver of one year subscription fees for the Dominica Manufacturers Association and a magazine feature,” Bannis-Sampson disclosed. “Second place will receive a cash prize, consultation on product development, discount on testing services at the Dominica Bureau of Standards, mentorship and poaching , waiver of one year subscription fees for the DMA and a gift voucher.”
She continued, “In third place the participant will receive a cash prize, consultation on product development, waiver of one year subscription fees for the DMA and a gift voucher.”
Other prizes to be won are a prize for the best speech, the most innovative product, the most sustainable product and the People’s Choice Award where the public will vote on the product that they like.
Registration for the competition cost $20.00
Persons who are interested in participating in the training are required to pay $100.
Those taking part in the competition are also required to pay $100.
A registration form is available
Persons who wish to register are asked to contact Naomi Bannis-Sampson via email: [email protected] or call 1-767-245-6415.
what about persons who do not have 3 years of operation but may have a valid prototype and this is where i feel, you lack creativity, since our context is not an issue of ideas but more so one of funding those ideas. there are so many wonderful ideas floating around our nature isle, that it is not funny!
Make something to sell? Lol…..who is going to buy? No money circulating…smmfh
@ admin,the fourth line of the paragraph beginning the first place winner, correction, Bannis Sampson disclosed not Bannis sample disclosed.
ADMIN: Thank you for taking the time to point that out. The correction has been made.