KINGSTON, Jamaica – University students and lecturers today gathered at the Mona School of Business for the launch of the Vincent HoSang UWI Venture Competition.

The competition, named in honour of Dr Vincent HoSang, aims to provide funding for young entrepreneurs to transform business models into successful businesses.

“I am from a family of 10, and when my father’s store was closed we were all split up and had to go live with other persons,” HoSang said as he encouraged young entrepreneurs to be philanthropic and determined in pursuit of business.

“Whenever you do a job, give 110 per cent,” he continued.

HoSang is a Jamaican entrepreneur who owns and operates one of the largest frozen food companies in the United States.

“Even though I did not finish secondary and tertiary education, I encourage all of you to finish your studies,” HoSang urged.

HoSang has contributed towards providing meals to Jamaican athletes at the Penn Relays for the past 21 years, and will this year be presented with the Order of Jamaica in October at the National Heroes’ Day celebration.

He today pledged US$60,000 towards this year’s competition while encouraging young entrepreneurs to get involved in the field of technology, which he deems to be the business of the future.

The winner of the competition will get $500,000 while second and third place finishers will be awarded $330,000 and $220,000, respectively.

The competition is sponsored by Dr HoSang, Jamaica Observer, Mona School of Business, Jamaica Yellow Pages, JN Small Business Loans, UHY Dawgen, and the Development Bank of Jamaica.

David Wright