SCOTIABANK has launched the 2009 Scotiabank Change-Maker Challenge, a contest that gives Jamaica’s students and young adults the opportunity to create a marketing strategy for Scotiabank Be – the bank’s young adult banking platform.

Change-Makers are invited to submit their plans by May 15, 2009 for a chance to earn a share of more than US$15,000 in cash prizes. Individuals can enter the challenge at www.change-makerchallenge.com.

“The 2009 edition of our Change-Maker Challenge is an exciting opportunity for Scotiabank to engage Change-Makers across Jamaica and the Caribbean,” said Heather Goldson, senior vice-president of marketing and products at the Scotiabank Group. “The contest allows Jamaica’s future entrepreneurs and business people to show off their creativity and ingenuity, gain exposure to prominent community leaders and potentially earn a share of over US$15,000 in prizes.”

The 2009 Scotiabank Change-Maker Challenge asks young people: “If you were the marketing director responsible for leading Scotiabank’s new young adult brand, how would you use the marketing and promotions budget of US$100,000 to attract young adults to the new brand and its products and services?” Challengers are to respond on-line, in 250 to 500 words, describing their marketing plan.

“We’ve modelled the 2009 Scotiabank Change-Maker Challenge on a real brand and product set within the company,” said Goldson. “Change-Makers are asked to show how their creativity can be used to create a sustainable and successful campaign. With this year’s Challenge, we’re giving young Jamaicans who consider themselves Change-Makers a chance to show they can compete and succeed on a professional level.”

Scotiabank Be is Scotiabank’s young adult brand targeting 18 to 30-year-olds in the Caribbean. It welcomes young adults in Jamaica to share their ideas, activities and interests through its online community. Scotiabank Be provides an opportunity for young adults to attain financial independence by offering a suite of specialised products, services and programmes tailored to their unique needs.

Launched in 2007 and completed in 2008, the first Scotiabank Change-Maker Challenge invited young adult Change-Makers from four Caribbean countries to submit banking innovation ideas. After receiving more than 450 qualified submissions and tallying over 40,000 peer votes, Scotiabank invited three finalists to present their ideas in Jamaica. Sharene Gaitor of Bahamas took home the grand prize of US$10,000.

The expanded 2009 Challenge will feature an English edition and a Spanish edition. The English edition will run in 14 Caribbean countries (Jamaica, Trinidad & Tobago, St Lucia, St Maarten, St Kitts, Antigua, St Vincent, Belize, Anguilla, Dominica, Barbados, Bahamas, Guyana and Grenada). A Spanish edition will run in four Latin American countries (El Salvador, Puerto Rico, Costa Rica and Panama).

Submissions for the 2009 Challenge will be narrowed down through three levels of judging. A team of Scotiabank officials will evaluate all submissions and select the top 10 entrants from each edition. Peer voting, which will take place online at www.change-makerchallenge.com, and a judging panel made up of marketing leaders and senior Scotiabank executives will then determine each edition’s top three finalists. Those three entrants will be invited to a central location where they will present their ideas in person to the panel of judges.

The grand prize winner will take home US$10,000, and the second and third-place submissions will receive US$5,000 and US$3,000 respectively.