BPI Foundation, in cooperation with the Ateneo Center for Social Entrepreneurship (ACSEnt), has officially opened BPI Sinag, a business plan competition seeking to empower socially-conscious entrepreneurs.
BPI Sinag also aims to bridge the gap between the rich and the poor by tapping the private sector in creating opportunities and delivering basic services to the less fortunate.
“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,” says BPI president and CEO Cezar P. Consing.
“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,” says BPI Foundation executive director Fidelina Corcuera.
The competition is open to those from ages 18 to 35 who have business ideas or existing enterprises that address social issues. On top of cash prizes, the top entries to BPI Sinag will be trained through workshops and mentorships, and will have their ideas funded. The top five entrepreneurs will receive PHP 200,000 each, 6-month mentoring, and access to the Ateneo Business Incubation Center.
Submission of entries is until July 20, 2015. For more information on BPI Sinag, visit http://www.sinag.bpifoundation.org.