Pontifical Catholic University: Entrepreneurs wanted

The Pontifical Catholic University of Puerto Rico in Ponce is gearing up for its annual I.D.E.A.S. competition celebrating entrepreneurship.

Kicked off in 2010, the competition is exactly what its name suggests: a quest to find the best ideas for either a product or a service. It seeks to recognize and encourage ingenuity, creativity and innovation.

Originally designed for the university’s own business administration students, I.D.E.A.S is now open to everyone in Puerto Rico: students at private or public institutions, including high schools, and the general public.

Jaime Santiago, dean of the PCUPR Business Administration College, said participation in the contest is traditionally low but he hopes that increased publicity this year will result in more entries.

The deadline for submissions is Nov. 8. Winners will be announced on Nov. 26.

I.D.E.A.S., a Spanish acronym for Business Innovation and Development for the Southern Area, is probably the only competition of its kind in Puerto Rico, according to Santiago. Other contests, he said, reward excellence in creating a business plan but “for there to be a business plan you need an idea.”

Participants are asked to send in their best ideas for a new product or a service in these areas: tourism, agriculture, services, health, logistics/distribution, recycling, and renewable energy.

The winning three entries, selected by a jury of four business people, will be judged on originality, creativity and innovation. Also considered are the idea’s impact, its market and growth potential.

Prizes include cash, computer equipment, memberships in business organizations and training aimed at realizing the winning concept.

Competition sponsors include Comp USA, Doral Bank, Coca Cola, the Southern Chamber of Commerce, the International Council for Small Business, and the Carvajal Foundation.

For more information, check http://elearning.pucpr.edu/ideas/