The Next Big Food Entrepreneur

Monday, September 10, 2012 jeffrey 0 Comments

Is food business a long-time dream of yours? Join the search for the Next Big Food Entrepreneur and make your dreams happen. Choose which category you belong to: Student or Open. Fill out the online application form to get started. Get chosen in the "taste test" round in which you have to bring food samples of your product enough for ten (10) to twelve (12) people. On the next level, you will have to undergo stages of the competition wherein you will have a chance to go through entrepreneurship classes and participate in the actual Mercato Centrale market for two (2) months. At the end of the challenge, defend your business plan and get chosen for a chance to win P100,000 cash for your business, three (3) to six (6) month rent-FREE stay in Mercato and or Soderno (your choice), be featured in Entrepreneur and Yummy Magazines and other prizes!



Contest Requirements:
  • Open to all local residents - Filipinos or non-Filipinos, with duly registered food businesses
  • Student Category - Open to all bonafide regular college and graduate school students, vocational school students, culinary school students, at least eighteen (18) years old and above. Should not have a currently established business/start up that is older than three (3) months at the time of the competition
  • Open Category - Open to anyone who is not currently employed in a management/executive capacity in a food or food-related business. Should not have a currently established business/start up that is older than three (3) months at the time of the competition
Contest Mechanics:
  1. Log on to entrepreneur.com.ph and fill out the application form and download business plan template
  2. Two (2) Categories:
    • Student Category
    • Open Category
  3. Entry Guidelines:
    • A minimum of one (1) person and a maximum of three (3) persons per entry per category
    • One (1) entry/application is counted per individual student/entrepreneur/group enterprise
    • Entry should not have won any other business plan competitions or competitions of a similar nature
  4. Contest Process:
    • Qualifying Round - "Taste Test"
      • Submit your application form, 2x2 photos of each team members, and food samples of your product enough for ten to twelve people
      • The panel will choose a minimum of five (5) entries and a maximum of ten (10) entries per category
    • Contest Proper
      • Stage 1 - You will undergo a series of entrepreneurship classes in various business disciplines which include but are not limited to marketing, finance and accounting, food/restaurant management, weekend food market entrepreneurship
      • Stage 2 - You will participate in the actual Mercato Centrale market for two (2) months to give you a better chance to refine and improve their products/services and food taste/quality/menu
      • Stage 3 - After the two (2) month participation in the market, submit three (3) copies of your business plan
        • The text should be printed on letter size paper (8.5in. x 11in.), 1.5 spaced with Font Times New Roman
        • Should not exceed ten (10) pages
      • Stage 4 - At the end of the challenge, you have to make a short fifteen (15) minute presentation of your business plan along with a taste test of your food to a panel composed of representatives from Entrepreneur Magazine, Yummy Magazine and Mercato Centrale
  5. Judging Criteria:
    • 50% Business Plan
      • 25% Creativity/uniqueness of the product
      • 25% Profitability
      • 25% Operational efficiency
      • 25% Marketing
    • 50% Food
      • 25% Unique taste
      • 25% Yumminess
      • 25% Presentation
      • 25% Food booth appearance/presentation
  6. View complete contest mechanics
Contest Period:
  • Taste Test Days - September 17 - 19, 2012, 3PM - 8PM
    • Summit Media, 6F & 7F Robinsons Cybergate Center Tower 3, Robinsons Pioneer Complex, Pioneer St., Mandaluyong City
  • Actual Mercato Centrale market participation - October 6 - December 8, 2012
Contest Prize:
  • First place winners
    • Between three (3) to six (6) month rent-FREE stay in Mercato and or Soderno (your choice)
    • P100,000 CASH
    • Be featured in Entrepreneur and Yummy Magazines
    • Other prizes courtesy of partners
Upside
  • CASH prize!
  • An opportunity to start your own business
Downside
  • Stages of the competition is long and can be very tiring
For more info, log on to entrepreneur.com.ph