Hapinoy introduces the Hapinoy-Fisherman breakthrough innovation grant

Got a big idea for Hapinoy?

In line with the Hapinoy+ Program, MicroVentures has launched the Hapinoy-Fisherman Breakthrough Innovation Grant. This business concept competition is open to all who aspire to alleviate poverty through new and viable business ideas and innovations that can be offered through the Hapinoy Sari-Sari Store Network. Proposals must be innovative, resourceful, scalable, and fit to the particular needs of the Philippines.

Hapinoy FBI Grant is an international which is hosted by The Prize sponsors - Fisherman Foundation and SEVEN Fund. Fisherman and SEVEN tie-up with strategic partners in the Philippines to create open-source contests that in turn create positive systemic change whereby members of poor communities become self-sufficient and gradually improve their lives. And Hapinoy’s business model has proven to be successful and evolving with respect to the demands of the market and more importantly, to the needs of the program’s main stakeholders, the Nanay entrepreneurs.

One goal of the prize is to spur more Social Entrepreneurs - the key difference from other grant competitions is that there is now an existing platform - the Hapinoy Network - upon which the ideas can be built upon. If the ideas generated are impactful enough, these can be easily scaled to the 150 Hapinoy Communities.

Cash Prizes for this idea contest are as follows:

1st Prize: PhP 100,000
2nd Prize: PhP 75,000
3rd Prize: PhP 50,000
Special Prize: PhP 25,000

So if you’re 18 years old and above, and you have a business idea that:

• Will innovate and improve the way business is done at the sari-sari store.
• Will generate additional revenue for the Hapinoy Sari-Sari Store.
• Will create direct benefits to consumers or members of the community.
• Will fulfill a social need in the community.
• Has the potential to grow and be implemented in other areas.
• Is sustainable. Your idea, when implemented, can run and generate revenue for at least 3 years.
• Is innovative and out of the box but feasible (strong market potential).

Join now and submit your ideas. Visit the Hapinoy FBI Prize page: http://hapinoy.com/HAPINOY/fbi_grant.html. Deadline of submission of entries will be on November 5, 2010.

For more a more details mechanics on the Prize, download the Tool Kit here.

MicroVentures Inc. is also partnered with the Asian Social Enterprise Incubator (ASEI), Smart Communications and GMA New Media Inc.