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Biz Memos

BPI Sinag evolves to achieve more inclusive and sustainable growth

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BPI Sinag evolves to achieve more inclusive and sustainable growth
BPI Foundation remains committed to be at the forefront of social entrepreneurship in the country through its Sinag program.
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MANILA, Philippines — BPI Foundation, the social development arm of the Bank of the Philippine Islands (BPI), officially launched the eighth iteration of its flagship program, BPI Sinag, which champions the social enterprise (SE) sector in the country.

Themed BPI Sinag Evolution, this year’s program aims to elevate its impact and achieve inclusive and sustainable growth by implementing for the first time, a multi-stakeholder approach, highlighting three vital pillars: the social entrepreneurs, the educators and the intervenors or sub-sectors.

BPI Foundation has committed P3 million worth of cash grants for these pillars this year.

BPI Sinag Evolution is also aligned with the National Social Enterprise Development Roadmap, one of the accomplishments of Sinag Spark last year, translating the roadmap strategies into viable programs.

Introduced in 2015, the BPI Sinag program was initially conceived as a business challenge for social enterprises (SEs).

Over the years, the program has supported 238 SEs nationwide and awarded over P20 million cash grants to help them strengthen their enterprises, widen their reach, and further uplift the lives of their communities.

“Doing well by doing good as an economic and social imperative is more relevant now more than ever. This is the perfect time to increase our collective efforts to become more inclusive, responsible, and sustainable when doing business. This is the essence why we strongly support social enterprises,” said BPI Foundation Executive Director Owen Cammayo.

During the virtual launch, four Sinag alumni, JT Solis of Mayani, Catherine Diquit of Likhang Maragondon, Cecille Virtucio of Batangas Egg Producers Cooperation, and Lorielinda Bella Rago-Marte of Tagolwanen Women Weavers Association also talked about their experiences on how the program helped grow their social enterprises.

Together with its main implementing partner, Bayan Academy, BPI Foundation will continue its partnerships with BPI’s microfinance arm, BPI BanKo, together with Ayala Land, Start Up Village, and Villgro Philippines.

As part of the program’s evolution, the foundation also sealed a collaboration with Entrego to boost the market access of SEs by providing reliable logistic solutions for the safe and timely delivery of their products.

Business challenge for social enterprises

The “Sinag Evolution” business challenge will open its doors again to social enterprises. Of 60 SEs that will qualify for the bootcamps and mentoring sessions, the Top 25 will be shortlisted for the selection of the Top 10, who will receive as much as P300,000 cash grant.

Aside from the cash grants, BPI Foundation will provide Sinag SEs with an MBA-like experience through virtual mentoring sessions, which will include sessions on business strategy and planning, marketing, operations, finance, organization & HR development and social innovation, among others.

Sinag SEs will also benefit from market access through the Sinag Sari-Sari Store in Ayala malls nationwide through its partnership with Alagang Ayala Land.

The business challenge is open to social entrepreneurs who are 18 years old and above leading a registered social enterprise that has been operating for at least six months. The application period will run until June 30.

New offerings for the academe and sub-sectors

With the multi-stakeholder approach, the “Sinag Evolution” will also give opportunities to the members of the academe and the support intervenors of SEs through a customized management program and competition.

BPI Foundation offers the BPI Sinag Social Entrepreneurship and Management Course for Educators. The course, which will focus on effective methodologies in teaching social entrepreneurship management, is open to the members of the academe, including school heads, administrators, and lead teachers who specialize in general entrepreneurship and business management.

The deadline for applications is on June 10, while the training will be from June 13 to 17. The participating educators will then submit their proposals and present them to an esteemed panel of judges. Five educators with the best proposals will win a cash grant of P100,000 each.

For the SE Intervenors and Subs-sectors, BPI Foundation aims to collaborate with various organizations, including corporate foundations, NGOs, civil society organizations and other government agencies.

Participants will be given the chance to learn about social entrepreneurship management and frameworks that may be used as interventions in the community that they support.

Interested participants may register until August 12, as the five-day bootcamp will be held from August 22 to 26. Five participants with the most viable proposals will win a cash grant of P100,000 each.

 

To know more about Sinag Evolution, visit https://www.bpifoundation.org/page/bpi-sinag and follow BPI Foundation on Facebook and Instagram.

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