BPI Foundation (BPIF), the social development arm of Bank of the Philippine Islands (BPI) launched the third year of its Small Enterprise Acceleration Lab (SEAL) program with a new track called Business Education and Growth Initiative for Nano-entrepreneurs (BEGIN).
SEAL, in partnership with Bayan Academy, offers entrepreneurship and management training, provides programs that strengthen business skills and knowledge and offers cash grants and potential linkages.
SEAL-BEGIN, with a focus on start-ups, will offer learning modules that amplify business creation and growth to help nano-entrepreneurs to navigate challenges and seize digital-age opportunities.
“As we launch SEAL this 2024, we are not just continuing a program; we are nurturing a movement. We are confident that the participants of this year’s SEAL program will benefit immensely from the comprehensive training, mentorship, and support that this program offers. This aligns with our vision to help build a better Philippines – one family, one community at a time,” said BPIF executive director Carmina Marquez.
BPIF introduced the SEAL Project Series in 2022 to assist and develop interventions for micro-enterprises, nano enterprises, and those who aspire to start their entrepreneurial journey. In support of the Republic Act No. 11337, also known as the Startup Act, SEAL-BEGIN will provide benefits and programs that enhance, encourage and cultivate the Philippine Startup System.
The new track originated in the second year of SEAL, the Small Enterprise Growth Agenda (SEAL-SEGA), which is a program designed to identify and support start-up businesses ready to develop viable ventures.
SEAL-BEGIN is open to nano-entrepreneurs and aspirants who are at least 18 years old, either the owner or manager of the nano enterprise and involved in the business operations.
The nano enterprise should be in the initial phase of establishing its proof of concept or testing its product or service-market fit. It should have business operations for at least three months, and is building up a working capital and business infrastructure. The deadline for submission for SEAL-BEGIN is July 22, 2024.