“Be the change, be the light”, this is what BPI Foundations envisions that came up to the idea of BPI Sinag, a businessen plan competition aimed to empower entrepreneurs with a social mission, as well as to create jobs and deliver basic services to those at the bottom of the pyramid. It was then executed in its launch last May 21, 2015 at Mind Museum in Taguig City.
BPI President and CEO Cezar P. Consing explained, “We have to do business in a way that produces positive side effects. That way, more people would benefit—our shareholders, clients, and employees will be beneficiaries of that approach. It isn’t just a CSR approach, it has to be engrained in the way we do business.”
Successful entrepreneurs were also present in the same event to share their experience in running their own businesses that comes with purpose. One of them is Rob Crisostomo, exporter of Philippine Cacao to Barry Callebaut, the world’s largest supplier of high quality chocolate.
In a question and answer portion of the event, Crisostomo mentioned that ‘ideas are the most powerful thing that you can have’ but when you bring these ideas to execution, this is ‘where the challenges and good things come’. He also added, “I think to challenge your ideas, to get feedback to many people and they believe it with open mind, because this is about evolution, innovation, and most important is survival.”
Also, to the will of resolving the gap between rich and poor that remains wide, BPI Sinag seeks to promote the active participation of private sectors through the improvement of more social enterprises.
“The BPI Sinag Challenge is a social business plan competition. We’re seeking young entrepreneurs with socially oriented businesses—the so-called millenials are as creative as they are critical-thinkers, and they have the passion, the heart and the skills to change the world through business,” said BPI Foundation Executive Director Fidelina Corcuera.
18 to 35 years old young social entrepreneurs, who have business ideas or existing enterprises that can help solving social issues, are welcome to join the competition. Apart from the cash prizes, there will be workshops, mentorship and access to financing for the top entries. At the end, five finalists will have the chance to receive PhP 200,000 as seed-fund and 6-month mentoring and will be able to access Ateneo incubation center.
Submission of entries starts on May 22, 2015 until July 20, 2015. You may visit www.sinag.bpifoundation.org for more details.
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