Starting this month and through April 8th, Puerto Rico college students can compete for a prize of up to $10,000 for their business idea, during the fourth edition of the “IV Santander Award for Business Innovation” business plan competition.
Sponsored by Banco Santander through its division for universities, this competition aims to promote the entrepreneurial spirit of Puerto Rico students and provide a platform to encourage innovation in the area of entrepreneurship.
Rafael Vélez-Palmer, director of Santander Universidades Puerto Rico, said “the competition highlights the values of commitment, teamwork and collective efforts in building a business project that also should be noted for its uniqueness and originality, sophistication and creativity.”
Students may participate in any discipline, part or full time. Contestants must work individually or in groups, under the supervision of a university professor who will mentor them during the process of drafting and evaluating their plan.
A jury of experts in management, entrepreneurship and banking will select a total of seven proposals while another three that will round out the group of finalists will be selected by the general public through their votes on social networks. The first three places will receive $10,000, $6,000 and $4,000, respectively.
To win, the initiative must be economically viable, in terms of sustainability and projection, and be internationally oriented, with the ability to successfully enter other markets.
For more information, visit the Universia website.