The third edition of the "UPS Entrepreneurial Spirit Award" launches in 14 countries in Latin America and the Caribbean with up to $50,000 in cash prices UPS (NYSE: UPS) today announced the launch of the third edition of the "UPS Entrepreneurial Spirit Award" in 14 countries across Latin America and the Caribbean*. The contest, which runs from September 25th to November 9th, will award up to US$50,000 in cash and a scholarship for an executive program from INCAE Business School to the three most innovative and successful small-and-medium size enterprises (SMEs) in the region. "SMEs play an instrumental role in the growth and development of a competitive and efficient market in Latin America. UPS has and will continue promoting SMEs in the region as well as the entrepreneurs that work tirelessly to make them successful," said, Augie Picado, Vice President of Marketing UPS Americas Region. "The UPS Entrepreneurial Spirit Award seeks not only to support SMEs in continuing their path of accomplishments, but also gives SMEs a voice to share their innovative processes that have broken new grounds to success," added Picado. In Latin America, SMEs are key drivers for employment and generate a substantial share of GDP in the region. "Participating in a contest that recognizes SMEs was not only a great opportunity for professional growth but also recognition for the hard work our employees do every day to make our business a successful story," said Juan Aguayo, business development manager for Opti Manufacturing, one of the 2010 UPS Entrepreneurial Spirit Award winners. The UPS Entrepreneurial Spirit Award launched in Mexico for the first time in 2008 and the contest has since expanded to include 14 countries in Latin America and the Caribbean. Cash prizes will be awarded to the top three SMEs, as follows: First place - US$25,000 cash prize Second place - US$15,000 cash prize Third place - US$10,000 cash prize In addition to the cash prizes, INCAE Business School, ranked as one of the best business schools in Latin America and recognized for its MBAs and executive education programs, has joined efforts with UPS. The first place winner will have the opportunity to be part of one of their executive programs with all expenses paid. "SMEs play an instrumental role in the private sector growth and INCAE supports SME growth providing the necessary knowledge and education for SME owners and future entrepreneurs to better manage their businesses, be good leaders, and have an impact on their teams. At INCAE, we are proud to partner with UPS in this endeavor," said Zeidy Benavides, Executive Programs Recruitment Manager INCAE. The contest is open to all legally registered SMEs in the participating countries that have between 10 to 250 employees and no less than two years of operation as of January 31, 2012. To participate, companies must submit a 500 word essay and complete the entry form available on the official contest Web site: www.ups.com/premiopyme. Limited to one entry per SME, each essay received will be reviewed by a diverse panel of experts who will select the contest winners based on originality and innovation, business implementation, customer service and overall results. For more information and a complete list of Terms and Conditions, please visit www.ups.com/premiopyme. * The 14 Latin America participating countries are: Argentina, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Peru and Puerto Rico.