P500K at stake for seafarers turned entrepreneurs

To help Filipino seafarers intending to venture into social entrepreneurship, the National Reintegration Center for OFWs (NRCO) and Overseas Workers Welfare Administration (OWWA), in partnership with Integrated Seafarers of the Philippines (ISP) under the supervision of the Department of Labor and Employment, encourage seafarers to join the 2018 NRCO-ISP Business Plan Competition for a chance to win up to P500,000.

The Business Plan Competition is an annual reintegration program where qualified seafarers are given the opportunity to convert their ideas into attainable and sustainable business plans. Winners get cash prizes they can use as capital to begin their own business in the country so that they will stay home for good.

The competition is also a practical way to boost seafarers’ potential and capability for business and social enterprise development since the participants will undergo training and coaching by business experts.

Mechanics

Active or inactive Filipino seafarers who have been in the Philippines for not more than five years and are interested in business ventures are qualified to join the contest. Participants may join solo, in pairs or in groups (minimum of three members) and each individual must be 25 years old or older.

A qualified seafarer who wants to participate but is currently on duty and unable to attend the presentation and coordination activities of the contest must have at least one official representative from his immediate family to handle all the tasks required during the competition process.

The competition is open to startup business plans only. All types of business are acceptable, except franchising. Submission of entries is ongoing until Sept. 7.

Antonette Cañete, project manager of the Business Plan Competition, clarified that the mechanics have no particular requirement for the seafarers’ working experience.

But in accordance to the program’s purpose of reintegration, particularly in the seabased sector, they prioritize OFWs. However, those who are working domestically can still join by being a partner or a group member with other international seafarers.

Top 10 winners of previous business plan competitions are no longer allowed to join.

Three of the main criteria of judging are the content of the plan, including social business idea and purpose, financial viability and impact to the community.

The 2018 NRCO-ISP Business Plan of the Year will be awarded P500,000 worth of business capital to be given in three tranches, since the NRCO will be monitoring progress. The first runner-up will receive P100,000; the second, third and fourth runners-up will be granted P50,000 each, while the rest of the finalists will have a consolation prize of P20,000.

Call for entries

During the last year’s business plan competition, NRCO and OWWA admitted there were just 52 entries submitted nationwide and only four came from Central Visayas, far from the estimated 93,000 seafarers of the region.

“Kaya po namin ito pino-promote more extensively for this year para po mas marami pa kaming makalap na entries, specifically from this region (Region 7) kasi alam naman natin na ang Central Visayas ay isa sa may mga pinakamaraming seafarers (We are promoting this extensively this year so we can get more entries, specifically from this region because we know that Central Visayas has many seafarers),” Cañete said.

The program’s project manager added that the duration of the competition was prolonged to accommodate more entries.

Cañete elaborated that the 2018 NRCO-ISP Business Plan Competition was created for seafarers because they observed that the reintegration program for the sea-based working sector has not been getting attention and emphasis.