Monday, August 31, 2009

Eliminating Poverty through Entrepreneurship

Entrepreneurship is now becoming more and more popular in the country, with an increasing number of Filipinos bringing fresh new concepts and ideas for new businesses.

With this same drive of placing new business ideas on the table, the Business in Development Challenge Philippines was organized in partnership with the BiD Network. Carried by the theme “Promoting Poverty Reduction through Enterprise Development,” viable business ideas which combine poverty reduction and profit were partnered with potential investors.

Participants to the BiD Challenge Philippines received personal and professional coaching for developing a bankable business plan and also got to interact with a network of premier local and international financiers and investors. The local challenge marked Aug. 30 as the final day for submission of the participants’ business plans.

Up for grabs in the competition was a start-up capital of Php1M. The top two finalists were then sent to the international BiD Competition at Amsterdam in the Netherlands, where international winners were awarded up to 20,000 Euros.

The BiD Challenge Philippines 2009 was supported by Citi, Talk N Text, and Pilipinas Shell. Media partners Business World, the Philippine Daily Inquirer, Entrepreneur Magazine, and the Cebu Daily News also supported the competition.

For more information regarding BiD Challenge Philippines, please visit the BiD Country Manager at the Philippine Business for Social Progress offices at PSDC Building, Magallanes Cor. Real Sts., Intramuros, Manila. You may also call telephone numbers (632) 527-7741 to 48 local 107; fax numbers (632) 527-5972 or (632) 527-3743; or send an email to


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