Press Release February 2007: Fighting poverty with profit
Will you make poverty reduction YOUR business? The 3rd edition of the Business in Development (BiD) Challenge began April 2nd and challenges everyone to write a business plan for an enterprise in a developing country. The BiD Challenge 2007 edition has: more prizes, more investors and up to 7 local BiD Challenges in Developing Countries!
The BiD Challenge focuses on the problem of limited access to financial and non-financial sources which Small and Medium sized Enterprises (SMEs) in developing countries face. By participating in the BiD Challenge, entrepreneurs not only get a chance to win prize money, but are also exposed to an international network of investors, companies and organisations. Additionally, they receive personal coaching from business experts. The BiD Challenge is supported by 27 different partners including NCDO, ICCO and the Dutch Ministry of Foreign Affairs.
The BiD Challenge is much more than just a business plan competition. It is a platform for expertise and networks, where employees of partner organisations use their knowledge to support entrepreneurs and where investors get access to quality business plans. In this way the BiD Challenge not only stimulates entrepreneurship in developing countries, but also puts companies and investors in contact with poverty reduction in a unique way. Because of the great success of the BiD Challenge International the concept will be rolled out to several developing countries in the coming years to make more efficient use of local knowledge and networks.
René Malcorps, winner of the BiD Challenge 2006, proved that SMEs not only generate employment and income, they are also an engine for innovation and expertise. Malcorps won one of the main prizes with his plan “African Skin”, a unique concept to develop products from bark in Uganda. With his business he supports local industry, as well as the environment. The first products of “African Skin” have been launched recently.
This year participants can win up to €20.000!
The BiD Challenge 2007 is open to start-up or established entrepreneurs with a business proposal for a new, or the expansion of an existing enterprise in a developing country. The enterprise is in need of an investment between €5.000,- and €500.000,- and will be profitable within 3 years.
Registration deadline: 31st of May
For more information see www.bidnetwork.org/challenge
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Note for the editor (not for publication)
More Information:
The BiD Network Foundation
Susanne Reuling
Tel: +31 20 7555 010
2 comments
IF ALL WAS ONE
If all the BID Network plans was one,what a great plan it would be.If all the BID entrepreneurs was one,What agreat one he would be.If all the BID country was one,what a great country it would be.And if all the BID ideas was one,what a great idea.And infact itwas one.THANKS TO THE INITIATOR.
BRAVO
The bidnetwork staff are doing quite a commendable job by keeping us informed and giving us an ear for our comments.Bravo!!!!!!!!!!!!!!