Poverty reduction main business of BiD Challenge

from Inquirer

Riza T. Olchondra
Inquirer

MANILA, Philippines--BEING the first business plan competition to address the problem of limited access to investors for the small and medium enterprise (SME) segment, it comes as no surprise that the Philippine BiD Challenge received a warm response in its first year.

The competition encourages the development of business models that generate profit and support poverty reduction by matchmaking the proponents with promising business plans to mentors and potential investors. The 100,000 cash award to the 10 best entries were surely a great draw, but more than the cash, competitors were attracted to the possibility of being mentored by specialists and being matched with prospective investors.

The Philippine Bid Challenge is a satellite search of the International BiD Challenge, which the Business in Development (BiD) Network Foundation initiated to stimulate and support business ideas that are geared toward making profit and improving living standards in developing countries. The program was introduced to the country with the non-profit group Philippine Business for Social Progress (PBSP) spearheading the local effort.

PBSP trustee Marixi Prieto, chairman of the board of the Philippine Daily Inquirer (parent company of INQUIRER.net) and one of the jurors for the Philippine Bid Challenge, noted that there was a wide range of entries, which is good for giving various industries more exposure.

By the end of May this year, 221 proposals were submitted, of which 169 met the criteria. Each plan was screened three times by separate professionals in the Philippines. The rating and constructive feedback has been shared with the entrepreneurs.

The 50 Round 2 participants were given the green light to develop a solid and full-fledged business plan by Sept. 3. They were provided with an expert to coach and mentor them during the process.

Out of the 50, only 42 turned in their plans for the Jury of the Philippine BiD Challenge to study. Jurors also interviewed the finalists before selecting the winners.

Finally, in an awards gala on Oct. 22 at the AIM Conference Center in Makati City, the 10 best entries were announced. The top two were named national winners and qualified their respective authors to compete in the worldwide phase in the Netherlands come the first week of December.

The winners were "KingsGrill" by Romy Miranda and Conrado Contreras, and "Tire Recycling" by Gene Bonggo.

Rounding up the top 10 were "Peanut Project" by Raffy Espiritu, "Tenorio Manila" by Brian Tenorio, "Roof Tiles From Lahar" by Adolfo Pinlac, "Promoting Muscovado" by Deborah Sabarre, "Charcoal Production" by Juan Marquez, "Crab Shells" by Alfonso Gamboa, "Lemon Grass Oil" by Aladino Moraca, "Every Home Will Have One" by Macario Galvez.

Each of the winning business plans earned P100,000 for the authors to use as capital. In addition, Miranda, Contreras and Bonggo each won tickets to the Netherlands to join the world competition phase.

But PBSP chairperson David Balangue, a managing partner of SGV & Co., said that he hoped the competitors would continue to work on their respective projects and encourage other socially-oriented entrepreneurs to do the same.

"[They] are all winners, and this is certainly not the end. There is certainly a brighter future ahead for innovative and socially-oriented businesses," he said.

BiD Network Foundation director John van Duursen had something to say to local investors as well, "There was some innovation and good support, and in the future we would like to see a lot more innovation. We encourage investors and financial institutions to adopt socially-oriented business plans so that they can attract foreign investments. This will promote matchmaking and encourage more innovative business centered on poverty reduction. Local investors can take the first step, so that foreign investors can take it a step further. "

THE TOP TEN WINNERS:

1. "TIRE RECYCLING" by Gene Bonggo. Through a simple buffing machine process, scrap tires are made into shredded, reclaimed rubber. International buyers from China and other countries have a large appetite for this and the production is easily (micro-) franchised out. This established businesses wants to expand its operations.

2. "KINGSGRILL" by Romy Miranda & Conrado Contreras. Kingsgrill produces a quick-to-light, biodegradable, environment-friendly, safe and economical source of alternative fuel; it's a charcoal solution, which is a collaboration with CMC Ventures and Filgenuity, Inc. in Scandinavian countries.

3. "PEANUT PROJECT" by Raffy Espiritu. Selling a market-preferred, high-yielding peanut variety to domestic client through seed access, technology extension, post-harvest processing and marketing.

4. "TENORIO MANILA" by Brian Tenorio Philippine-made bespoke designer shoes. Western Inspiration + Eastern Imagination = a Global Understanding of Stylish Footwear.

5. "ROOF TILES" by Adolfo Pinlac. Manufacturing of long lasting, low-cost concrete roof tiles using a proven technology, bringing it to commercial scale.

6. "PROMOTING MUSCOVADO" by Deborah Sabarre. Muscovado is a brown, soft sugar laced with more minerals and trace elements beneficial to the body. Increasing demand for healthy sugar both in the domestic and export markets led some sugarcane farmers' cooperatives in Western Batangas to consolidate and in partnership with IDEALS, develop a Muscovado Sugar Processing enterprise.

7. "CHARCOAL PRODUCTION" by Juan Marquez. The coconut husk charcoal briquettes are a cleaner and cheaper alternative to liquified petroleum gas (LPG) and are easier to prepare. Besides, it provides alternative fertilizer and pesticide.

8. "CRAB SHELLS" by Alfonso Gamboa. For this community enterprise, crab meat is a primary product for export while crab shells were considered waste. Crab shells, fortunately, can be processed into chitin and chitosan, which are widely used in pharmacology, medicine, dietetics, bio-technology, cosmetics, waste water treatment, textile and wood and paper manufacturing.

9. "LEMON GRASS OIL" by Aladino Moraca. Oil extracted from organically grown lemon grass (Cymbopogon citratus) is an active ingredient in perfumes, cosmetics, soap, hair care products and has medical elements. Our three years of past research on the design, management, community organizing approaches and marketing of produce guarantees the smooth operation of an essential oil enterprise.

10. "EVERY HOME WILL HAVE ONE" by Macario Galvez. Profound health education through a popular book, written in the lay person's language. Short "clinical stories." The business aims to translate this book into Filipino and sell it.