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- Men and women under age 35 may be part of a team in the 2007 TIC Americas. All team members (excluding mentors) must not be more than 35 years of age prior to 11:59 pm of December 31, 2006. Proof of age will be required for winners.
- Contestants must be citizens or legal residents of the country they are representing and be legally authorized to start and operate a business in that country.
- University, community college, post-secondary students, recent graduates, and young entrepreneurs in general regardless of their physical location and nationality are the target group. However, any entrepreneur not more than 35 may enter regardless of their education status or level of completion.
- YABT staff, Board of Directors, and sponsors’ immediate family members are not eligible to participate.
TIC Americas Teams must include a minimum of three members with the following:
Chief Executive Officer (CEO)
Chief Financial Officer (CFO)
Chief Technical Officer (CTO)
- A Team may not have more than ten members, not including mentors.
- Each Team is responsible for finding its own mentors and must have at least one but not more than two mentors to be eligible to participate. TIC Americas can help with the matchmaking process between team members and mentors if the team can not find a mentor on its own.
- A maximum of two persons may present in the TIC Americas Finals event. Any number of members of the team and / or mentors may attend.
- Semi-Finals and Finals Awards will include one ticket for the Team to attend the next event, i.e. Finals or Global TIC. Other team members and mentors who wish to travel to the Finals or Global TIC are responsible for finding their own sponsorship to attend.
- At least one member of the Team should be able to communicate adequately in English.
- As the initial phase Semi-Finals, is a virtual competition, the Team should have adequate access to the Internet to enable its full participation.
- A Team with multinational contestants will be considered to be from the country where the CEO is a citizen.
- A Team can have one or two mentors.
- There is no restriction of mentors’ age, education, or experience.
- Mentors can be part of only one Team
- Mentors participate on a voluntary basis and will not be paid by the Team or YABT / TIC Americas. Universities or the larger business community may contribute volunteers.
- Should their Team win the Semi-Finals, mentors are not required to attend the TIC Americas Finals event nor would their travel expenses be paid by YABT / TIC Americas. However, they can accompany the team at their own expense.
Who can be a mentor?
- University or other educational or instructional personnel
- Private sector representatives, e.g., Chambers of Commerce and business associations.
- Experienced business managers and technical or business experts
- Successful young entrepreneurs.
- Any adult meeting the criteria set out for mentors in these Rules.
- YABT Staff, Board of Directors, or immediate family members may not serve as mentors.
What mentors do?
- Answer questions or help find persons who can.
- Provide industry and functional experience in the technical area of the business or its operations
- Help teams focus on tasks, meet schedules, organize their time,
- Criticize, identify deficiencies, and recommend improvements in the business plan
- Evaluate a team's presentation during rehearsals.
- Brainstorm on possible partnerships and long-term potential for development of the business and the networks required for its long-term success.
- Open their rolodexes and provide relevant contacts in the identification of sponsors and other resources to advance the project in the competition and its long-term prospects.
- Advise on protecting intellectual property, obtaining and utilizing patents, etc.
- Advise on incorporating, potential legal and regulatory issues, etc.