Soup of the Day is one of the finalists at the BiD Network Challenge 2009.  (artwork by Ydda)

The Business in Development (BiD) Challenge Philippines is an annual online business plan competition that aims to stimulate and support business ideas that combine profit with the improvement of living standards in the country; and boost private sector development in the country by creating a platform where entrepreneurs, expertise and investors can meet.

BiD Challenge was initiated by the Dutch National Committee for International Cooperation and Sustainable Development (NCDO). The Philippine BiD Challenge was first launched in Manila in September 2006 by the BiD Network Foundation and the Philippine Business for Social Progress (PBSP). The Philippine BiD Challenge is currently on its 4th year.

The event aims to: (a)award the top 10-12 outstanding entries and special prizes; (b)  showcase the 2009 BiD Challenge entries for possible investment match; and (3) provide technical assistance to 2007 to 2009 BiD participants/finalists.

The 2009 BiD Challenge Philippines Book will be launched and copies will be disseminated to guests. Thirty-three (33) innovative business ideas ranging from agriculture, food, manufacturing, waste recycling, renewable energy, etc. will be featured in the book. All entries aim to contribute to poverty reduction in the Philippines.

A total of 33 qualified entries will be showcased thru exhibit wherein proponents will demonstrate their products and services to prospect investors. Product displays and demonstration shall be done including product selling. All SME participants shall be allocated with one (1) panel booth wherein they could display their products and interact with prospect investors.

The 33 entrepreneurs will have the opportunity for a one-to-one interaction (10 to 15 minutes) with their most preferred investors to discuss their business proposals for possible financing and for them to be enlightened on the different financing packages, criteria and requirements of investors.
  Prior to the activity, SMEs will be requested to select their most preferred investors while investors will review their one-page business fact sheets and pre-assess them based on their investment qualification criteria. After a “mutual” pre-match is made, a “date” between the entrepreneur and investor will be scheduled/arranged during the marketplace.

Short talks shall be delivered to all entrepreneurs who participated in the last three (3) years of BiD Challenge Philippines to enlighten them on the common issues and challenges that they encounter as they establish or expand their businesses. Speakers are professionals and experts will give advice on effective marketing and tips on accessing finance for SMEs. Another entrepreneur who participated in the previous BiD Challenge competition will also share his/her experiences and insights towards building a successful enterprise.

The awarding proper will highlight the most outstanding entries and finalists of 2009 BiD Challenge Philippines. Partners and sponsors shall also be acknowledged for their contribution in making this year’s competition a fruitful one.