Thursday, August 14, 2008

BiD Challenge Philippines

The 2nd cycle for submission of business proposals has been opened.

Submit your business proposal until August 15.

Find investors for your business

Get a coach for your business plan

Win PHILIPPINE PRIZE MONEY. Winners shall receive start-up capital from a pool of PhP 1,000,000.

Win a business trip to the Netherlands
Win Euro 20,000 in the global BiD Challenge
The Business in Development (BiD) Challenge Philippines offers entrepreneurs the opportunity to develop and execute business plans that improve the living conditions of poor Filipinos. Its uniqueness is that it encourages the germination of an idea, identifies excellent concepts and plans, and provides mentors and coaches that can direct the idea towards viability and sustainability.

Previous years’ Philippine business plans were innovative, out-of-the box –a testimony to the creativity, resourcefulness and entrepreneurial spirit of the Filipino. Be inspired in the same way the others have been.

How to compete in the BiD Challenge Philippines 2008
To compete, you must present your business idea on the BiD Network before August 15 by:

▪ First check if you are eligible to participate by reading the participation criteria. Click on the box ‘Who can participate?’ on the right.
▪ Become a member of the BiD Network and create a profile. Click on the box ‘How to present your plan’ on the right.
▪ Complete the online business concept format. Click on 'new contribution' after you created a profile and logged in.

After you start writing your plan you will have 14 days to complete and submit it. Take note that the deadline may be sooner. In such case, submit before the deadline, which is August 15.

You can submit your plan by clicking on 'submit your plan' at the top or bottom of your plan. If you already have a complete business plan you can attach it to your business concept directly.

What happens after August 15?
If your plan is accepted to the challenge you will receive an email from us within one month after August 15. In this email we will inform you if you:
1. Have been accepted to the BiD Challenge Philippines
2. How to attach a complete plan to your online business plan format
3. If you are eligible to receive a coach
4. When and how the finalists will be selected

Good luck! BiD Challenge Philippines is organised by the Philippine Business for Social Progress (PBSP)

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