DOLE Launches 2017 Business Plan Competition For OFW Seafarers With P500,000 Cash Prize

The Department of Labor and Employment-National Reintegration Center for OFWs (DOLE-NRCO), in partnership with the Integrated Seafarers of the Philippines (ISP), launches the 2017 Business Plan Competition for OFW Seafarers.

NRCO Director Jeffrey D. Cortazar said seafarers and their families will again have the opportunity to pursue their dream businesses after the schedule of activities and other related undertakings for this year’s competition have been finalized by the partner agencies.

“We encourage our seafarers and their families who were not able to join in the past years to submit their business proposals. This is definitely their chance to join the competition,” Cortaza said.

This year’s nationwide competition, dubbed ‘From Seafarers to Entrepreneurs: The 2017 NRCO-ISP Business Plan Competition (Harnessing Seafarers’ Capacities for Business Enterprises Development) was launched Wednesday, June 14, at the SM Manila Activity Center, Ermita, Manila.

Cortazar said that unlike in the past two years where only agri-business inclined proposals are being accepted, this year’s round of competition will now accept an ‘ALL-START-UP’ business plan proposals starting June 14 and until September 8, 2017.

This amendment in accepting entries is based on the Project Implementation Agreement (PIA) he had signed last month with ISP President Capt. Gaudencio Morales.

Meanwhile, the schedule of awarding ceremony for the business competition is slated on November 10, 2017.

The Top 10 winners will receive incentives and other consolation prizes, and the grand winner will get P500,000 cash prize, all to be put up by the ISP.

Other details of the competition were announced during the launching and regular updates will be posted at www.facebook.com/dole.nrco and www.nrco.dole.gov.ph.

The contest, which is now on its third year, aims to encourage and assist qualified seafarers who intend to venture into social entrepreneurship.

“This initiative is primarily designed to foster development of new businesses in the hometowns of seafarers and their families thus contribute to the growth of jobs in their communities,” said Cortazar.

Source: Philippine Information Agency