BPI Sinag Spark 2021

BPI Sinag is calling for all interested social enterprises to apply for Sinag Spark 2021. Forty will be selected for the shortlist and 20 will move on to the finals. In the end, only 10 will be named Sinag Spark awardees, and the top five SEs will each receive P300,000, while the remaining five will get P100,000, totaling to P2 million in social enterprise funding. 

BPI Sinag aims to empower Social Entrepreneurs (SEs) in uplifting Filipino communities and scaling their businesses by addressing the triple bottom-line (people, planet, and profit) through opportunities for technological, social and market innovations.

Recognizing that businesses continue to experience dark and difficult times, this year’s theme “Sinag Spark” represents the light and hope for progress that Sinag offers to SEs as they struggle to bounce back from the effects of the pandemic.  The program also aims to spark the bayanihan spirit among stakeholders toward harnessing the resilience and capabilities of SEs to deliver both social and economic impact amidst the changing landscape.

Aiming to deepen its impact and reach out to more SEs this year, BPI Foundation is once again opening applications to SEs nationwide. For the upcoming “Sinag Spark” business challenge, 40 SEs will be included in the shortlist, of which, 20 will move on to the finals. Out of the Top 20, ten social enterprises who are best able to showcase their business viability and social impact will be named the BPI Sinag Spark awardees. Aside from exclusive mentorship opportunities, the awardees will also receive cash grants amounting to Php300,000 for the top five SEs and Php100,000 for the top six to ten. 

Components and Key Activities

These are the major components, or the 3Rs, of Sinag Spark:

National Registry of social enterprises as a precursor to the creation of a national movement, with a pool of social entrepreneurs advocating for building the nation from below:

Retooling for resilience for SEs to cope with the ongoing pandemic

Reinvigorating the SE community and ecosystem to ensure an enabling environment for SEs to thrive

A. Eligibility

For Social Entrepreneurs:

Must be at least 18 years old;

Must lead a registered social enterprise that meets the criteria; and

Must be willing to undergo and complete the online bootcamps to qualify in the business pitch and access to the grant.

For Social Enterprises:

Must be in operation for at least 6 months;

Must address a specific social problem and have a defined social impact, such as agriculture (agribusiness and agroindustry), healthcare, education, energy, technology and other sectors included in the Sustainable Development Goals of the United Nations;

Must be a registered business in the Philippines;

Must have a valid bank account in the name of the social enterprise;

Must have an official receipt issued by the BIR; and

Must not be a former Top 10 Sinag Awardee.

B. Requirements

Fully accomplished Sinag Spark 2021 Application Form (bit.ly/SinagSparkApplication2021)

The social entrepreneur must register as a member of the Sinag SE Registry Page on Facebook (bit.ly/JoinTheSinagSocialHUB)

The application period will run until July 6, 2021. For any questions or concerns, you may contact info.sinag@bayanacademy.edu.ph (cc: bpifoundationinc@gmail.com).

Partners:

Bayan Academy for Social Entrepreneurship and Human Resource Development

Ateneo Graduate School of Business

Ayala Land, Inc

BPI Direct Banko

Endeavor Philippines

StartUp Village

Villgro Philippines