ILOILO CITY – The Department of Trade and Industry (DTI) in Western Visayas will seek the assistance of provincial governments to secure funds for business ideas of five winners of the Youth Entrepreneurship Program: In-School Entrepreneurship Academy (YEP:iSEA).
Regional director Rebecca Rascon said on Wednesday she will ask the governors where the winners came from to consider the proposals of those young entrepreneurs to be able to get a budget from their economic and enterprise development fund.
The five winners came from the provinces of Negros Occidental, Iloilo, Antique, and Aklan.
“If you fund one entrepreneur then it is able to employ at least five people. That is already an accomplishment of the province,” she said in an interview.
The DTI launched in August this year the YEP: iSEA, which enrolled 40 students from 11 partner colleges and universities in the region that came to a close on Sept. 27.
The students completed a five-module course tackling entrepreneurial mind-setting and business planning, business model canvas, marketing management with digital planning, financial and operational management, and preparing a business pitch.
Following their submission of the business proposal pitch, the top five ideas were chosen. The top three received PHP10,000 each while the fourth and fifth placers received PHP5,000 each.
First place went to Bea Tan from the University of St. La Salle, Negros Occidental with her “Kurba Clothing” business proposal; Armen Thea Naputol from the University of San Agustin, Iloilo was in second place with her “Incredible Spoon” proposal while Adrian Fillone from University of Antique’s “Bolantero” came in third.
Ma. Patricia Flores of the University of San Agustin, Iloilo with her “Tahi – Made in Oton” won fourth with “Tahong Chips” proposed by Froy Crisostomo from Aklan State University, Aklan, landed in fifth place.
They were chosen for their unique, novel, or distinct approach which gives an advantage over their competitors; innovative solutions to an existing or emerging problem; and formulate creative strategies to be adopted to stay relevant and survive economic challenges; among others.
“We discovered that even in schools you just need to tickle their (students) imagination so that the business ideas that they have can be put into business model canvass for them to see the picture of what they would like to happen,” she said.
Coaches were assigned to guide them to translate their ideas into a minimum viable product and assist them to operate their business as aspiring start-ups and entrepreneurs.
Since YEP:iSEA was on its pilot run, Rascon said they look forward to having a second batch of the project
“I thought I won’t be able to get the buy-in of schools and universities. But I saw that schools are getting excited because they would also like to see how implementable the idea of these young people,” she added.
Youth entrepreneurs from University of San Agustin (USA), Western Visayas State University (WVSU), Central Philippine University (CPU), University of Saint La Salle (USLS), University of the Philippines – Miagao Campus (UP-Miagao), Guimaras State University (GSU), University of Antique (UA), Capiz State University (CSU), Aklan State University (ASU), College of Saint John (CSJ), and Garcia College of Technology (GCT) took part in the freshman year of the competition. (PNA)