“We’re seeking millennials, people who are as creative as they are critical thinkers, that have the passion and skills to change the world through business,” said Corcuera.
The competition is open to entrepreneurs between the ages of 18 to 35, who have business ideas or existing businesses that have been running for less than 3 years, that addresses a social issue.
The entries will be considered and screened until July 20. The top candidates will be invited to a week-long business boot camp that starts on August 24.
The boot camp, run by the Ateneo Center for Social Entrepreneurship (ACSent), will teach candidates various business disciplines such as marketing, product development, and strategy.
Attendees of the boot camp would then present their businesses to an initial set of judges who would select the 10 most promising ones.
The 10 finalists, who are already guaranteed P50,000 ($1121) for their business, would then each go through a pitch day where they will present their business plans before a panel of highly acknowledged businessmen.
The panel will pick 5 out of the 10 finalists. The chosen 5 will each receive P200,000 ($4,485).
Of the remaining 5, the judges will select one grand prize winner, who will receive additional seed money. All 5 will also be provided with access to ADMU’s business incubation facilities and 6 months mentorship.
$1 = P44.55