Inspired by Finance Minister Winston Dookeran's statement that business investment will boost T&T's stagnating economy, students of the College of Science, Technology and Applied Arts of T&T (Costaatt) have started generating fresh business ideas to build entrepreneurship and reduce poverty. At the launch of their global entrepreneurship week at the Ministry of Community Development Building, King's Wharf, San Fernando, on Tuesday, students were challenged to come up with fresh business ideas to increase economic growth in T&T.
As a reward, cash prizes were offered. The first prize is $4,000, the second $2,000 and the third is $1,000.Lecturer Clayton Blackman said citizens, regardless of their academic qualifications, could come to Costaatt with a business idea and see it come to fruition.He said Costaatt students would provide the ideas for the business, while Costaatt would provide the training and funding for any interested person.
He said: "It is a situation where the students come up with the idea and we at the institution will work with you to make it a reality.
"We will train you and upon the completion of the business plan, we will provide financing so that you can start your own business and have the necessary training to make that business successful," Blackman explained.
He said Costaatt had partnered with several Government agencies to boost small business development as that was a direct means through which poverty could be reduced."Our Finance Minister has recognised that we need business investments to boost economic growth and that is exactly what the institution is doing," Blackman said.
He explained that students also have begun making direct interventions to reduce poverty by partnering with the Revival Time Assembly at King's Wharf.Community helpers from the college who committed themselves to building entrepreneurship in the south city, said they were excited at the foresight of the Costaatt's team.
Dean of the Costaatt's School of Business and Information Technology, Sherwin Milette, who pioneered the entrepreneurial programme, plans to develop it into a national drive, Blackman said. He said two entrepreneurial professionals, Sajjad Hamid and Ambica Medine, have been working with students and interested business partners to boost the programme.Anyone wanting to join the entrepreneurial programme can contact Costaatt's School of Business and Information Technology officials for details.