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The NRCO-ISP Business Plan Competition is a special project for seafarers and their families by the National Reintegration Center for OFWs (NRCO), in partnership with the Integrated Seafarers of the Philippines (ISP).

The NRCO is a government agency under the supervision of the Department of  Labor and Employment (DOLE) and the Overseas Workers Welfare Administration (OWWA), mandated to develop, promote, and implement a national agenda on sustainable return and reintegration of OFWs.

Meanwhile, the ISP is a non-stock and non-profit organization formed and established for the welfare of Filipino seafarers and their families. It aims to create avenues where the seafarers' families can improve their lives while the seafarers are on active duty; and to provide ways for their easier social reintegration after the culmination of their overseas jobs.

 

The 2019 NRCO-ISP Business Plan Competition

The Project Objective

To provide potential seafarers and their families intending to set-up their own business the help they may need to develop viable business plans and ideas and turn them into business solutions to real social problems in their hometown or community.

Mechanics:

1)    Open to: Active seafarers preferably those who are planning to retire from sea life and interested to venture into entrepreneurship; and, Inactive seafarers who have been in the Philippines for not more than five (5) years and interested to venture into entrepreneurship.

2)  Participants may join the competition either in solo, duo or by group (3 to 5 members). Competition entrants, whether individually or members of a team, must be Filipino and 25 years old or older.

3)    A qualified seafarer who wishes to join the competition but is currently on duty and is unable to attend presentation and coordination activities related to the Competition including attendance to screening and mentoring/coaching activities, must  have at least one (1) official representative, (must be an immediate family member) who will handle all the tasks and activities required in the Competition.

4) Open to start-up business plan only. Deadline of submission of entries is on 06 September 2019. Awarding of prizes will be on 08 November 2019. Open to all types of business, except Franchising.

5) Immediate family members of DOLE, OWWA, and NRCO employees are not eligible to participate in this competition.

6) Competition entrants must complete an entry form to enter the Competition. 

                 Click here for Business Plan Entry Form ---> kisspng adobe acrobat adobe reader computer icons pdf down pdf 5ae844fd6f06c29327843915251714534548

                 Click here for Business Plan Template     ---> kisspng adobe acrobat adobe reader computer icons pdf down pdf 5ae844fd6f06c29327843915251714534548

7) Awards and Prizes

  • The 2019 NRCO-ISP Business Plan of the Year

                   Php 500,000.00 grand cash prize (to be given in three tranches)

  • Other Special Awards and Prizes

                   First Runner-up – Php 100,000.00

                   Consolation Prize of Php 50,000.00 each for the remaining finalists

                   Possible grants and access to preferential business loan funding from NRCO and its partners

8) Competition Process

  • ·Submission of Entries - 22 May 2019 to 06 September 2019
  • ·Screening Round - evaluation of the business plans and selection of Top 10 finalists
  • ·Mentoring Round - The Top 10 entrants will be given the  opportunity to enhance and strengthen his/her business plans through his/her attendance in a series of mentoring/coaching sessions
  • ·Final Round - participants will present their business plans to a panel of judges. Each will be given maximum of 20 minutes: 10 minutes for the presentation, and 10 minutes for the Q&A portion.

9) Criteria for Judging

Content of the plan including social business idea and purpose

30 pts

Impact on the community

20 pts

Financial viability

30 pts

Clarity and presentation of the business plan

10 pts

Drive and determination of the business plan owner-entrepreneur

10 pts

TOTAL

100 pts