MANILA – The Philippines’ fastest-growing e-commerce network made history recently by becoming one of only two finalists from the country to qualify past the penultimate stage of DBS-NUS Social Venture Challenge Asia 2017.
POSIBLE.NET was revealed last August 14 to be one of 15 finalists in the Enterprise category, while Coco Asenso, an innovative approach to the coconut industry, is the other Philippine entry that managed to crack the Idea category’s 10 hopefuls.
The 2017 edition of SVC Asia features two categories–Idea and Enterprise–to differentiate between start-ups and established social ventures. Up to two winners from the Idea category and six winners from the Enterprise category will receive cash prizes totaling to more than SGD150,000. Winners will also receive up to six months of post-competition assistance in the form of mentors and relevant incubation support.
The top 25 finalists–including POSIBLE.NET–bested more than 1,000 entries coming from 27 countries across the Asian region. Online voting for the Idea category finalists is currently ongoing, while voting for POSIBLE.NET and other Enterprise finalists will start on September 4. The two most popular Idea entries join the 15 Enterprise finalists in Singapore for the Awards Finale, with the top online vote-getters receiving a special prize.
The DBS-NUS Social Venture Challenge Asia is an Asia-wide annual competition for social entrepreneurs organized by NUS Enterprise and DBS Foundation. The competition aims to identify and support ideas and social ventures that are scalable, sustainable, and having potential to create positive social impact especially in underserved communities.