This is a press release from BPI Foundation
MANILA, Philippines – BPI Foundation and the Ateneo Center for Social Entrepreneurship (ACSent) formalized their partnership through a Memorandum of Agreement signing ceremony held at the BPI Building on April 29.
The partnership brings to life a new initiative: BPI Sinag – a business challenge which aims to empower entrepreneurs with a social mission. The program aims to capacitate and accelerate entrepreneurs through cash prizes, mentorship, and access to finance.
BPI Sinag supports young social entrepreneurs aged 18-35 years old who have business ideas or those leading an existing enterprise for not more than 3 years which addresses a specific social problem and aimed at generating a defined social impact.
BPI Sinag shows BPI’s commitment to inclusive growth, through the generation of long-term impacts. Social enterprises, or businesses with social missions, bring jobs and access to services to the marginalized sectors of society.
Sinag, translated into English, means “light.” BPI aims, through this program, to bring light to the communities that need support through sustainable development. It also aims to enlighten the public on a new, more inclusive way of doing business – and why these new models are relevant to solving our societal issues today.
BPI Foundation has engaged Ateneo, through ASCEnt, in the capacity building and growth of enterprises with a social mission through a three-stage program: ideation, incubation and acceleration. Mentoring and access to finance are also key features of the program.
For more information on BPI Sinag, please visit: www.sinag.bpifoundation.org – Rappler.com
Recognizing that BPI is more than just a financial institution, BPI Foundation, the social development arm of the Bank of the Philippine Islands (BPI), upholds financial wellness and economic empowerment through initiatives in education, entrepreneurship and environmental sustainability.