The season for budding and worthy social enterprises to get their much deserved recognition and support has once again arrived. BPI Foundation, the social development unit of giant lender Bank of the Philippine Islands (BPI) has launched the third year of its BPI Sinag.
This year, the program is expanding to become a bigger platform with the aim to further build an enlightened social entrepreneurship ecosystem in the country. BPI Sinag started in 2015 as a business challenge offering mentorship and financial support for worthy social enterprises, which prioritize the triple bottom line of people, planet, and profit.
Continuing its goals from the previous year, BPI Sinag Year 3 will still stand on two major pillars—BPI Sinag U (in partnership with the Ateneo Center of Social Enterprises or ACSent) encourages university students to foster social enterprise ideas with promising potential and BPI Sinag Accelerate (in partnership with the Bayan Academy for Social Entrepreneurship and Human Resources Development or Bayan Academy) reaches out to social enterprises that need to accelerate growth.
Participants in both categories will be entitled to targeted mentorship programs via boot-camps, industry networking, and access to appropriate financing opportunities.
Overall, BPI Sinag Year 3 will also focus on encouraging social enterprises to work towards wealth creation interventions to promote inclusive and sustainable growth for poverty alleviation across the country.
“The boot camps and competition will still be the key components of BPI Sinag,” said BPI Foundation Executive Director Fidelina Corcuera. “This year, we will introduce more in-depth impact assessments, identify gaps or areas of improvement, and come up with documentation that can educate other social enterprises in the future.”
Corcuera also announced a lineup of community support activities, still in line with the program. One of those is an Investor Education Seminar that aims to encourage new and seasoned angel investors to include social entrepreneurship in their respective investment portfolios.
“With these activities and opportunities, we hope that the social enterprises born and incubated in BPI Sinag become successful businesses that offer quality products and services, maintain high functioning value chains, and consistently deliver healthy profit margins,” Corcuera emphasized. “We also hope to see many of them not just cater to local customers, but eventually become competitive players in their respective industries, whether in the ASEAN or in the global market.”
Students and social entrepreneurs who intend to be part of Sinag U or Sinag Accelerate can learn more about BPI Sinag here.