P1M Youth Challenge

Friday, July 13, 2012 jeffrey 0 Comments

Want to help alleviate poverty? Get involved in the Project Pagsulong: The P1 Million Youth Challenge and start building the nation! All youth of today are encouraged to form a group of 3-5 members and come up with ground-breaking business ideas that is feasible enough to provide real-life solutions for reducing poverty. Get busy with your ideas and work as a team for a chance of winning cash grants worth P500,000, P300,000, P200,000, or P100,000 respectively including pre- & post-project coaching and mentoring from partner institutions and TOSP alumni. This will help you put into effect your team plan, furthermore lend a hand to less fortunate citizens.

Contest Requirements:
  • Group of a minimum of five (3) members and a maximum of five (5)
  • Should be local citizens, 18-30 years old
Contest Mechanics:
  1. Log on to projectpagsulong.ph. Download and fill out the Project Pagsulong Application Form
  2. Entry Guidelines
    • The business venture should exist primarily to reduce poverty or address a concrete social need/issue in the country
    • The proposal/venture must be operated independently on its own, and not serve as a sub-project or operation of a non-profit organization (international or local), a private company or its subsidiary
    • Existing start-ups may be considered, provided that these have not participated and/or won monetary prizes from similar business grants competitions
    • The venture should demonstrate financial viability and operational sustainability
  3. Submit your entry at the projectpagsulong.ph/submission page
  4. Judging Criteria
    • Social Impact - Focuses on a specific business/entrepreneurial need, and addresses a concrete social need/issue
    • Innovation/Invention - Demonstrates a new concept, or a variation of an existing idea
    • Feasibility - Demonstrates the practicality of the project, and is technologically applicable and executable
    • Team Leadership / Management and Community Participation - Establishes strengths of the team, demonstrates team capability in executing the project, and exhibits how the team mobilizes stakeholders and communities
  5. Each team can only submit one (1) proposal
  6. Your group should begin implementing the venture within 12 months from the time the winners are announced. Note that a significant portion of the project (at least 70%) should have been completed already by the 6th month of implementation
  7. View complete contest mechanics
Contest Period: Deadline of submission until August 31, 2012

Contest Prize:
  • Winners will be awarded the following cash grants to be used for the implementation of their business idea:
    • First Prize - P500,000
    • Second Prize - P300,000
    • Third Prize - P200,000
    • People's Choice - P100,000
  • Pre- and post-project coaching and mentoring from partner institutions and TOSP alumni
  • Online submission
  • Big cash prize to implement your business idea
  • A challenge to Filipino youth to alleviate poverty
  • Provide a concrete avenue for the youth to be an enabler of social change in the society
  • The project will take long time and effort to finish
For more info, log on to projectpagsulong.ph