Great news for social entrepreneurs! Now in its fourth year, BPI Sinag is looking to help more social enterprises get a head start on their business ideas.
And this year, they are challenging social entrepreneurs to encourage the creation of wealth among the Filipino ultra-poor.
BPI Sinag is the flagship program of BPI Foundation, the social innovation arm of the Bank of the Philippine Islands. Its goal is to accelerate businesses that create products and services that aim to make a social impact in a sustainable manner, targeting the triple-bottom-line of people, planet, and profit.
To celebrate BPI Foundation’s 40th anniversary, BPI Sinag is taking on the road to reach new social enterprises, launch new ideas and opportunities, and pave the way in improving the social enterprise ecosystem in the country.
Since its launch in 2015, BPI Sinag has been able to reach out and help 138 social enterprises nationwide. Each year, social entrepreneurs are given a chance to pitch their ideas to a panel of experts. They are then shortlisted based on their pitches and their performance until ten awardees are selected.
To reach social enterprises all over the nation, BPI Foundation conducted the Sinag Fast Track. Qualified applicants will secure a spot on the #BPISinag2018 Top 40 and will be moving on to the first round of Sinag Bootcamp to be held in Manila. From there, 20 enterprises will be selected based on their presentation until only ten are left.
Five of the awardees will get P100,000 while the top five will get P500,000. Winners will also receive cash grants and continued mentorship that can increase the chances of their project’s success.
Here’s the list of social enterprises that made it last year.
Accents and Petals Crafts and Accessories – a novelty shop selling flowers made from recycled wood and paper
Alternative Indigenous Development Foundation, Inc. – develops, manufactures, and installs technologies such as ram pumps for drinking and irrigation water, for the poor in the uplands
Association of Differently-Abled Persons in Iloilo Multi-Purpose Cooperative – a furniture making business giving jobs to persons with disabilities
Buhatan River Eco-Adventure Service Cooperative (BRESC) – an eco-tourism service in Sorsogon promoting the attractions of the Buhatan River
Coffee For Peace – a coffee supplier of world-class Arabica and Robusta beans working to promote peace in Mindanao
CustomMade Crafts Center, Inc. – a weaving novelty shop offering assorted items designed with Hinabol fabric
Happy Helpers – a professional home cleaning service that employs and empowers mothers from poor communities
Lamlifew Village Museum and School of Living Tradition – a living museum which showcases the cultural practices of Blaan tribe in the Sarangani Province
Mori Creations – a designer of innovative fashion accessories collaborates with mothers from poor communities in Apolonio Samson, Quezon City
Zarraga Integrated Diversified Organic Farmers Association (ZIDOFA) – a community of farmers revolutionizing rice growth with rich organic fertilizer
As an entrepreneur, I think it’s an awesome venue for fellow entrepreneurs to test their ideas. Pitching your ideas to an expert panel can give you a different perspective and feedback on which aspects need improvement. Pitching on the stage also helps boost your confidence, presentation, and negotiation skills.
Events like these are also a great place to meet people who are as ambitious and as driven as you are. Here you can exchange ideas and get the support that you need to change the world as we know it. Who knows, you might also meet your future mentor in these events!
So if you think your idea has the potential to make a great impact and improve the lives of the Filipino people, send your entries to www.sinag.bpifoundation.org or email firstname.lastname@example.org. Deadline of entries is on May 15, 2018.