Innovation Award for entreps set next month

TO help bolster entrepreneurship in the country, the Shell LIVEWIRE Program supports the 2022 Benita and Catalino Yap Foundation (BCYF) Innovation Award (BIA) that will recognize outstanding individuals or groups that have launched out-of-the-box solutions with a strong, measurable impact on their operations.

At stake is a cash grant that will help start-ups and small-to-medium-sized businesses to expand their markets, upgrade their systems, or bring about positive change in their communities.

The award forms part of the BCYF’S Comprehensive Social Development Program, which is dedicated to research, education, events, and developmental social enterprise. It was established as a result of the meeting of different organizations, especially those with young leaders who have made breakthroughs that improved their business operations and created value to their stakeholders.

The BYCF’S goal of honoring people or organizations who have made significant impacts in sectors like governance, education, tech, and industry is aligned with the vision of the global flagship enterprise program of Pilipinas Shell Petroleum Corp. to promote entrepreneurship and innovation.

“Innovation is essential to the development of industries as well as Shell’s commitment to power progress for the nation,” said Pilipinas Shell’s Country Social Performance and Social Investment Manager Conrad Parizal.

“The LIVEWIRE program has supported more than 20 enterprises in the Philippines and fueled start-ups with offerings that can solve longstanding socio-economic challenges. Our partnership with the BCYF shows Pilipinas Shell’s commitment to the continuous discovery and empowerment of courageous visionaries who can make radical beneficial changes through power, sustainability, and entrepreneurship,” he added.

Any member of an organization or business can join the 2022 BIA with no cost involved. Self-nomination is encouraged.

One of the BIA’S main criteria is that the nominee’s innovation must have been implemented in a viable, functioning, and registered organization during its last five years or earlier.

Also, the nominated person or group must have at least two years of profitable operations both on the Profit & Loss and Cash Bases. Their innovation must have a visible, vital consequence on the company’s bottom line.

The deadline for the submission of entries will be on February 4. Judging will be held on February 11. During the awarding ceremony on February 25, Pilipinas Shell’s award will be given to participants cited for doing excellent work in the categories of energy, environment and circular economy, and local prosperity.