DTI – Ayala - Magsaysay Business Plan Competition extends its deadline!

DTI – Ayala - Magsaysay Business Plan Competition extends its deadline!

With over four million peso cash prizes to be awarded to thirty creative and profitable business plans, the search is still on for the most creative, innovative, feasible, and profitable enterprises in the National Capital Region (NCR).

The competition urges a ll young entrepreneurs, either in the NCR or with those with at least one (1) business transaction dealing in the NCR, belonging to the micro-businesses and small & medium enterprises to send in their business plans to the DTI-AYALA-MAGSAYSAY Business Plan Competition secretariat.

Assistant Secretary Angel L. Pelayo of DTI-NCR expressed her unwavering commitment to this program: "DTI-NCR aims to contribute to the business sector. We believe in the ingenuity of the youth today, in making things towards progress. Spearheading this program is a testimony to the continuing role of the government as promoters of entrepreneurship."

The competition is open to young entrepreneurs 35 years old and below, who are planning or are already operating within the agri-business sector. There are three categories: the Young Entrepreneur (Individual Enterprise and Group Enterprise sub-categories), Student Entrepreneur (for college students only), and the Outstanding SME Business category.

Grand winners have the chance to take home as much as P500,000. After the contest, all winners will be given technical assistance as aid provision in business start-up and consultancy.

All agriculturally based enterprises ranging from food production, seed supply, agrichemicals, farm machinery, agricultural arts and crafts, animal husbandry, crop sequencing, to organic farming and modern agriculture are eligible entries to the competition.

For the Young Entrepreneurs Business Competition – Individual Enterprise , prizes are as follows: P300,000.00 (Grand Winner), P200,000.00 (1st Runner – up), and P100,000.00 (2nd Runner – ups). For the Young Entrepreneurs Business Competition – Group Enterprise , prizes are as follows: P500,000.00 (Grand Winner), P300,000.00 (1st Runner – up), P200,000.00 (2nd Runner – up), and P100,000.00 (3rd Runner – up).

For the Student Entrepreneurs Business Competition , prizes are as follows: P100,000.00 (Grand Winner), P50,000.00 (1st Runner – up), and P20, 000.00 (10 Finalists). For the highlight category, the Young SME Business Competition, prizes are as follows: P200, 000.00 each ( Top Ten Entrepreneurs).

The business plan should discuss the business concept thoroughly, accompanied with financial plan, resource requirements, and market summary among others. Entries will be judged according to the following criteria: creativity of the product / service, feasibility, profitability, and contribution to the community.

"We want to develop more opportunities for Filipino entrepreneurs. This is one of the avenues where they can showcase their inventiveness and entrepreneurial skills," Pelayo said.

Interested applicants may get hard copy of application kits at the local NCR – based DTI branches, Philippine Information Agency (Look for Girlie Guyong @T:929-4521 / 453-3760), and at Ayala Foundation, Inc. (Look for Bambi / Clarissa / Bam2 @T:752-1185, or Mildred @T: 752-1065). Application forms may also be downloaded at www.dtincr.ph, www.starfishmagazine.com, or at www.ayalafoundation.org .

This is a joint project of Department of Trade and Industry, Ayala Foundation, and Office of Sen. Ramon Magsaysay, Jr., in partnership with Manila Bulletin, Manila Times, The Philippine Star, and Business Mirror.

Application forms may be sent to the DTI-Ayala-Magsaysay Business Competition Secretariat, c/o Starfish Magazine, Center for Social Development, Ayala Foundation, 10F BPI Building, Ayala cor Paseo de Roxas, Makati City. Deadline of submission is extended until 12NN, February 20, 2008. Awarding of winners will be on March 15, 2008.

*** To view a larger version of the poster, just click on the image. :P