Press Release April 2007: Poverty reduction at a profit
Entrepreneurs that want to prove that entrepreneurship and development can go hand in hand, are being challenged by the Business in Development (BiD) Challenge to develop and execute business plans for profit and poverty reduction in developing countries. Their plans will be judged by some of the top of Dutch business people. The best plans are being matched with professional coaches, that will support and encourage them in making their plans bankable. Participants can win up to 20.000 euro. The BiD Challenge is organised each year by the BiD Network, an international platform for business in developing countries. The competition is supported by 27 Dutch Companies and NGO’s, among which the Dutch Ministry of Foreign Affairs, ICCO and NCDO are the biggest supporters. The deadline for submission is May 31st.
The BiD Challenge is a Dutch based, international contest for creative entrepreneurship to help fight poverty. People from all over the world are being encouraged to submit a business proposal for the creation of a small or medium enterprise (SME) in a developing country. The contest answers to ‘the missing middle’, a financing gap that obstructs the SME sector in developing countries to flourish. The objective of the BiD Challenge is to contribute to sustainable economic development by stimulating entrepreneurship in developing countries.
International Platform
The BiD Challenge not only offers entrepreneurs a chance to win prize money, but also access to an online community of entrepreneurs, investors, companies and organisations. The BiD Network makes their plans visible and links entrepreneurs to finance and expertise. Participants receive professional feedback and assistance from business coaches of Dutch Companies and NGO’s.
The BiD Challenge 2007 is open to entrepreneurs with a creative idea for a start up business or the expansion of an established business in a developing country. The business must require a start-up investment between €5,000 and €500,000 and seeks to be profit generating within 3 years.
For more information go to: www.bidnetwork.org
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For more information please contact Susanne Reuling of the BiD Network Foundation, phone: +31 (0)20 755 5010; e-mail;
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