The Tribune

By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

YOUNG Bahamians in Grand Bahama will compete for $50,000 in cash prizes under a new national innovation programme launched on Friday, with the government challenging participants to develop ideas capable of becoming businesses and competing beyond The Bahamas.

The Young Innovators Club pilot begins with participants from four schools and one community group in Grand Bahama, one of four islands taking part alongside New Providence, Abaco and Exuma.

Acting Prime Minister and Minister of Education Chester Cooper announced that the winning club will receive $25,000, while second and third place will receive $15,000 and $10,000 respectively.

The prize money is to be reinvested into the clubs.

“We're putting $50,000 into the innovation fund as prize money,” Mr Cooper said. “That's real money. Cash in your club.”

However, Mr Cooper urged participants to look beyond the immediate prize and focus on developing ideas with greater long-term value.

“I want you to think beyond the $25,000,” he said. “I want you to learn to build the idea that might one day turn that 25,000 into 25 million. That's the real price.”

The programme is designed for Bahamians aged 15 to 25 and focuses on entrepreneurship, technology, the environment, maritime industries and arts and heritage.

Participants will spend eight weeks identifying problems, developing and testing ideas and working towards prototypes, concepts or minimum viable products.

Mr Cooper, who described himself as a successful businessman, encouraged participants not to be discouraged by failed ideas.

“I'm here to admit to you that I have failed more times than succeeded,” he said. “You only got to succeed once to be a successful businessman.”

Mr Cooper said participants should learn to fail gracefully because not every idea will succeed.

“Not every idea is going to work,” he said. “That's a part of the process. That doesn't mean you stop.”

Although the pilot has begun in Grand Bahama, Mr Cooper said the government intends to expand the programme nationally.

“Although this pilot begins here in Grand Bahama, our ambition is national,” he said. “So, Ragged Island we coming to you too. In Andros, we're coming.”

He said the programme should encourage young people to recognise the economic value of their ideas and become creators and job providers rather than simply consumers.

“What we need now are innovators,” Mr Cooper said. “What we need now are job creators.”

Minister for Grand Bahama Ginger Moxey said the pilot will allow the government to assess and strengthen the programme before expanding it to other islands.

Mrs Moxey said the initiative is a partnership between the Ministry of Education, Science and Technology and the Ministry for Grand Bahama through Innovate 242.

Five Grand Bahama groups — two public schools, two private schools and one community group — make up the first cohort, with each initially focusing on one of the programme’s five pillars.

Mrs Moxey said the programme is intended to help young people identify real problems, work collaboratively, test ideas and develop practical solutions.

She said it is built around the themes of “inspire, social and culture”, with an emphasis on creativity, community impact and solutions rooted in Bahamian identity.

Mr Cooper urged participants to think beyond the limitations of their schools, islands and country and pursue ideas capable of creating lasting economic and social impact.