Press Release December 4th 2007: BiD Challenge Jury announces winners International Business Plan Competition

The Competition
The BiD Challenge challenges entrepreneurs from all over the world to develop and implement innovative business plans with growth potential. In this way, the competition aims to contribute to economic growth and employment in developing countries. Since 2005, the BiD Challenge supported the start-up of over 60 businesses and the creation of more than 1000 jobs in Africa, Asia and the Americas. Worldwide over 800 professionals were engaged in the competition as screener, coach or jury member. The BiD Challenge is supported by over 60 companies and organisations from all over the globe.

Winners
First prize winner in the category Start-up Businesses is Australian Ben Cole. He received an amount of €20,000 for his business plan “Fresh Facemasks”. Cole aims to produce protective and comfortable commuter facemasks for the Vietnam market, where people suffer from high pollution. With his business, Cole will provide a supportive and empowering workplace for women living with HIV and AIDS.

The jury praised Coles Business plan for its solidness and simplicity. “I received very good feedback on my plan from my BiD Challenge coach Mr. Bas Maenen from ING. Having him as a coach really helped me in writing a good business plan. Given the strong competition I faced, I never thought I would win though. Winning this prize gives me a lot of trust and energy to continue my business.”

In the category Established Businesses the first prize of €20,000 went to Laure Yosse from Cameroon and her business plan “Organic Health Snacks from Exotic Fruits”. The business organizes farmers to produce organic fruits to be processed into healthy snacks for the world market. Many Cameroonian farmers will benefit from the business.

Parallel to the International competition, 7 national BiD Challenge competitions were launched this year on a national level by local partner organisation in Peru, Argentina, Colombia, India, the Philippines, Kenya and Tanzania. The 2 main prize winners of each national competition were invited to come to the Netherlands to compete in a separate category for the Satellite Awards. In this category the main prize went to Tanzanian Victor Mfinanga and his business Shambani Graduates Enterprises Company Ltd .The business collects fresh milk form about 100 Maasai cattle keepers and processes it into high quality milk products before selling it to the local market.

The jury awarded a total of 17 prizes between €5000 and €20,000.

International Marketplace
After the Awards Ceremony on December 4th, an International Marketplace took place. The goal of the Marketplace was to enable entrepreneurs to find investors and network for their future businesses. Based on the popular BBC TV series Dragons Den, the finalists presented an Elevator Pitches of their business plan to a panel of investors. Many entrepreneurs went home with a commitment of one or more investors.

“The BiD Challenge has become a unique platform to match small and medium-sized businesses from all over the world with investors. Today is the place where the daredevil entrepreneurs meet venture capitalists. The two ends meet.” Michael de Groot, CEO Rabobank Foundation.

Successful initiative
Due to the enthusiasm with which the BiD Challenge International was received, the model has been expanded to other countries and language areas. The BiD Network Foundation, organiser of the BiD Challenge, aims to assist the set up of a total of 20 national competitions by 2009. Moreover, some improvements will be made to maximize the number of businesses financed. Starting in 2008, the BiD Network Foundation will serve incoming business proposals on a daily basis, in stead of only once a year, and the application–assessment timeline will be reduced from 8 to 1 month.

For an overview of all winners see www.bidnetwork.org/winners2007

- END OF PRESS RELEASE -

For more information, please contact Susanne Reuling of the BiD Network Foundation, telephone: (020) 755 50 00;