Search for Young Entrepreneur in Fisheries

        As already announced by Mr. Phillip Ong , President of Santeh Feeds Corporation during the 2011 PhilFIN Fisheries Research Forum held last September 2011 at the CLSU campus, Santeh  Aquaculture Science and Technology Foundation is launching a project  to encourage entrepreneurship in fisheries among the youth.  This project shall be known as “Enterprise Hatchery” and will be in the form of a search for young entrepreneurs.  We are pleased to finally send you the project concept as well as the search mechanics and rules copy of which is attached. 

        Although the primary target are students and graduates of fisheries, it is open as well to students and graduates as well as your faculty and staff from other fields for as long as they meet the age limit (no more than 35 years old by October 15, 2012.)

 

The following are our target dates for various steps in the search:

March 30, 2012                         : Submission of entries.

April 1 to May 31, 2012           : Screening of entries to select semi-finalist.

May 31, 2012                             : Semi-finalists selected

June 1 to August 31, 2012       : Evaluation of semi-finalists

August 31, 2012                        : Finalists selected

October 26, 2012                      : Finals event.

 

We shall be sending you posters by next month. We hope you can post this in prominent places within the campus. Entry Forms will be posted in our website (www.santehfoundation.org/enterprisehatchery)

 

Lastly we would highly appreciate if you can assign a faculty member who can serve as the focal person for this search in your campus and who we may contact directly.

 

Very truly yours,

WILFREDO G. YAP

Executive Director

Santeh  Aquaculture Science and Technology Foundation, Inc.

 



-- 
Santeh Aquaculture Science & Technology Foundation

Phone: +632 3751560 loc. 120
Email: 
info@santehfoundation.org

Mechanic of the Search

Project : ENTERPRISE HATCHERY

Introduction:

The enrollment in Fisheries in various institutions has been experiencing a decline in recent years. One of the reasons is the lack of employment opportunities after graduation. In addition almost all graduates ultimately aim for employment and very few opt to go into business.

In previous efforts to boost such employability, institutions have created income generating projects as supplemental income opportunities. These projects were in turn funded by grants. Such a solution is usually unsustainable due to lack of focus and lack of continuity on the part of sponsoring institutions. These projects were often not treated as business ventures and the money received were treated more as dole-outs rather than as investments that are supposed to be grown into self sustaining enterprises.

Project Aim:

Project Enterprise Hatchery aims at the following objectives:

  • To identify and help passionate young entrepreneurs build their own successful businesses.

  • Encourage graduates to consider entrepreneurship in fisheries instead of aiming merely for employment.

  • Through their success enhance the image of Fisheries studies as foundation to entrepreneurship,

  • Provide employment and generate new niche markets.


Project Mechanics:

Utilizing our network of member institutions of PHILFIN ( Philippine Fisheries Institute Network) which includes such centers of excellence as University of the Philippines Visayas, Central Luzon State University and Mindanao State University, we shall elicit business proposals related to Fisheries from young entrepreneurs. These projects need not be farming or production but can be in services. They can include such unique and out of the box projects as health care, fashion accessories etc. They just have to utilize Fisheries products or services as a technical component of their project. While fisheries students and graduates are identified as primary targets the contest is open to other students and graduates for as long as they meet the age requirement, has a passion for business and share the belief that the Philippine fisheries industry has tremendous potentials for growth.

Ten finalists will be chosen from the proposals received. These finalists will get the chance to present their project to prospective investors in front of a live audience. The proposals shall include a request for cash investment in exchange for a percentage of ownership in the project.

The investors will also act as a mentor to the project they choose in thorder to give the enterprise a better chance of success.

OTHER BENEFITS:

Most PHILFIN Institutions are away from urban centers. Such location is also reflected in the enrollment with the students coming mostly from the rural areas. These project will in essence spread investments to remote areas where the need for investments and well operated enterprises is most pronounced.

The sponsoring institutions gain prestige from having projects from their students or graduates selected for investment. This insures a network of support systems, facilities and markets which would otherwise make start up businesses difficult to access.

The replicability of such projects to other locations after a proven operation has been establish is another benefit. These niche enterprises can become the large success trends for Fisheries in the future.

GUIDELINES

  1. All bona fide residents of the Philippines of good moral character whose age will not exceed 35 years by October 15, 2012 are eligible to participate in the search except employees of Santeh Feeds Corporation or its subsidiaries and their immediate relatives up to the first degree of consanguinity

  2. Participants for the search are required to submit the following:

    1. Duly accomplished entry form which shall be available online at www.santehfoundation.org Participants are urged to fill the form online and print the accomplished form for signing and submission. The entry form will ask the participant to create a Code Name of his or her choice and will require the signature from a reference person to vouch for his character. The reference person should be a person of authority who personally knows the participant such as the barangay chair, the Colege Dean, religious leaders, etc.

    2. Business proposal as specified in the search mechanics below which should be marked only with the same Code Name he or she provided in the entry form and should not bear his or her name in any of the pages.

  3. Entries should be placed inside one envelope and sent to the following address:

Hatchery Enterprise

c/o Santeh Foundation for Aquaculture Science and Technology

Rm 601 West Trade Center

132 West Avenue

Quezon City 1104

  1. Entries must be received at the above address by 5:00 pm, March 31, 2012.:

SEARCH MECHANICS:

  1. The business proposal to be submitted should deal with ANY aspect of fish production, processing, processing by products, handling, transport, refrigeration or marketing. Proposals may involve either goods or services including tools or kits for water analysis, and diagnostic kits or procedures for use in fisheries and aquaculture. Fish includes all aquatic or marine organisms such as, but not limited to finfish, crustaceans, molluscs, aquatic plants, micro-organisms, etc

  2. The proposal should be submitted in two forms: hard copy and a soft copy to be burned on a CD with the text or body in Word format and the financial tables as spreadsheets in Excel.

  3. Preference shall be given to proposals that involve scaling up or expansion of an existing enterprise that has been operating profitably. The existence of which enterprise can to be supported by any local government documents, photos of products and operation or financial statements.

  4. Each proposal should include the following:

  • Product and process description.

  • Location of the proposed enterprise

  • Market and marketing approach.

  • Business organization and labor requirement.

  • Fixed and working capital requirement

  • Three year projected cash flow statement

  • Balance sheet

  1. The proposal shall be evaluated along the following points:

  • Is the product or service proposed marketable?

  • Are the costs, selling prices and margins involved realistic?

  • Is the projected volume capable of supporting the proposed enterprise?

  • Is the process proposed technically sound and capable of producing the volume projected?

  • Is the investment level proposed reasonable?

  • Is the cash flow projection realistic?

  • Is the production process compliant to environmental and safety standards?

  1. The initial evaluation shall be conducted on a “blind” basis by Santeh Foundation in-house committee who shall select a maximum of thirty (30) proposals as semi-finalists.

  2. The semi-finalist proposals shall be evaluated by an external committee of three to be drawn from the business sector. This committee shall consist of individuals with known track record in fisheries, food and allied industries.

  3. A maximum of ten finalists shall be selected by the external committee for the final showdown. The actual number of finalists may be less than ten depending upon the judgment of the members of the committee.

  4. Once the proposals have been qualified to be finalists, the identity of the proponents shall be matched with their respective Code Names. Should there be any doubt on any of the claims of the proponent including his or her age the organizers reserves the right to make a background check and ask for a definitive proof of age.

  5. All expenses for travel to and from, as well as accommodation, in Manila for all finalists shall be the responsibility of the organizers..

  6. The finalists shall be asked to prepare a powerpoint or product presentation of their respective proposals for 10 minute presentation before a panel of potential investors and a live audience.

  7. At the end of each presentation the proponent is expected to defend his or her proposal and answer any question or comment from the panel of potential investors.

  8. Members of the audience who may be interested on a particular proposal may also question or ask for clarification from the proponent.

  9. Investment on a particular proposal shall be open to the panel of potential investors as well as to the audience.

  10. Once a proposal has been selected by a potential investor any transaction and agreement that will arise will be wholly between the proponent and the investor without any involvement from the organizers.

  11. The investor may do a due diligence check on the proponent and decide whether or not to proceed with the investment on the basis of the findings. The decision of the investor is final and the organizers cannot be held liable should the investor decide not to proceed nor are they obligated to find another investor.



Comments

728days since
GPO Orientation