BPI seeks entrepreneurs who uplift communities

BPI Foundation, in partnership with the Ateneo Center for Social Entrepreneurship (ACSEnt) launched BPI Sinag today, a business plan competition aimed at empowering entrepreneurs with a social mission, at The Mind Museum in Taguig City.

Inclusive growth is the key to sustainable development at a time when the gap between rich and poor remains wide. Thus, BPI Sinag seeks to promote the active participation of the private sector through the development of more social enterprises as a means to create jobs and deliver basic services to those at the bottom of the pyramid.

“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.

Young social entrepreneurs from ages 18 to 35 who have business ideas or existing enterprises that address social issues may send join the search. Aside from winning cash prizes, the top entries to BPI Sinag will have access to workshops, mentorship and access to financing. Five finalists will receive P200,000 each, 6-month mentoring and access to the Ateneo business incubation center.

Should they meet requirements, the finalists will also receive access to financing to help sustain their social enterprises.

Submission of entries for the challenge starts on May 22, 2015 and ends on July 20, 2015. For more information on BPI Sinag, visit www.sinag.bpifoundation.org. To stay updated, like the BPI Sinag Facebook page at www.facebook.com/bpisinag, and follow us on Twitter.