Press Releases
NRCO, ISP launches OFW seafarers 4th business plan competition

Cagayan de Oro City --- In its fourth year, seafarers and their families will be given another opportunity to establish their dream businesses as the National Reintegration Center for OFWs (NRCO), in partnership with the Integrated Seafarers of the Philippines (ISP), launches the business plan competition for returning OFW seafarers on 6 July 2018 in SM City Uptown, this city. Anchored on the theme, “From Seafarers to Entrepreneurs: The 2018 NRCO-ISP Business Plan Competition (Harnessing Seafarers’ Capacities for Business Enterprises Development),” the nationwide competition encourages and handholds qualified seafarers who intends to venture into social entrepreneurship.

 

“This is the fourth time the NRCO is in partnership with the ISP to conduct of a business plan competition for returning seafarers. We would like to produce OFW seafarers who can make a difference upon their reintegration, just like what we have assisted during the past three years,” said NRCO OIC-Director Roel B. Martin.

 

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.

 

Since 2015, the NRCO and ISP have produced three seafarer-entrepreneurs who have established income-generating jobs in their respective hometowns: (1) 2015 winner: Mr. William Gaspay (60 years old, Chief Officer) Seaweeds Farming in Masinloc, Zambales; (2) 2016 winner: Mr. Ryan Mark Antiquera (32, Able Seaman) – Soft Broom Making in Manito, Albay; and (3) 2017 winner: Mr. Oswald Rollorazo (48, Captain) – TMR Ruminant Feeds in Sta. Ignacia, Tarlac.

 

The NRCO is ready to accept entries with deadline of submission on 7 September 2018. This is 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 years and are also interested to venture into entrepreneurship.

 

Participants may join the competition in solo, duo or by group (minimum of three members), must be a Filipino citizen and 25 years old or older.

 

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

 

After the submission of entries, the Screening and Evaluation Committee will scan through the entries and select the top 10 business plans. After which, the finalists will undergo mentoring sessions to further enhance their entries, and proceed to the final round to defend their business plans.

 

The criteria will be based on content of the plan including social business idea and purpose (30 points); impact on the community (20 pts.); financial viability (30 pts.); clarity and presentation of the business plan (10 pts.); and drive and determination of the business plan owner-entrepreneur (10 pts.), with a total of 100 points.

 


The schedule of the awarding ceremony for the business competition is slated on 9 November 2018 and the winner for the 2018 NRCO-ISP Business Plan of the Year will receive PhP 500,000.00 grand cash prize (to be given in three tranches). Meanwhile, the first runner-up will win PhP 100,000.00 cash; the second, third and fourth runners-up will get PhP 50,000.00 each; and the consolation prize of PhP 20,000.00 will be given each to the remaining finalists. Possible grants and access to preferential business loan funding from NRCO and its partners will also be granted.

 

Other details of the Competition will be posted at www.facebook.com/dole.nrco and www.nrco.dole.gov.ph websites.

 

End/Marry Gil Damasing/NRCO-X

 

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2018-07-02
JOFFREY M. SUYAO




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