BPI accredit lab empowers MSEs

THE social development arm of Bank of the Philippine Islands (BPI) unveiled a program for the growth of local micro and small enterprises (MSEs) on Friday.

In collaboration with Bayan Academy, BPI Foundation virtually launched its Small Enterprise Acceleration Lab (SEAL) with its first track, Small Enterprise Growth Agenda (SEGA).

SEAL-SEGA is a search for start-up enterprises that are ready to expand their sustainable business initiatives, it underscored. The project aims to satisfy the needs of new firms by providing training, mentoring and cash grants.

The training program is designed to assist entrepreneurs in evaluating their products, services, operations and marketing, as well as formulating their start-up firm development plan.

“It’s no secret that the past two years have been extra tough for the entire business community, most especially for the micro and small enterprises, which faced multiple challenges, including the lack of funds to maintain their businesses after a series of lockdowns,” said Owen Cammayo, executive director of BPI Foundation.

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“To help address the pressing need for an intervention and spur growth to the MSE sector, we are excited to kick off the pilot run of the BPI SEAL-SEGA.”

BPI SEAL-SEGA, Bayan Academy President and Chairman Francisco Bernardo pointed out, is committed to assisting startups in sustaining, developing and scaling up their enterprises.

“We are here to be part of the nation-building efforts that SMEs have been providing us.”

BPI Foundation said 50 MSEs will be chosen to attend the boot camps and present their proposals to a panel of judges through a business pitch. The Top 1-10 will each earn a P100,000 cash prize while the Top 11-20 will each receive P50,000.

The business challenge is available to 18-year-old and older start-up entrepreneurs with a total asset value of less than P1 million. It said that the application period will last through July 15 this year.


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