The BiD Challenge adapts to the limited access to financial and non-financial means for Small and Medium sized Enterprises (SMEs) in developing countries. By participating in the BiD Challenge entrepreneurs can not only win prize money, they are also exposed to an international network of investors, companies and organisations and receive personal coaching from business experts in writing a professional business plan. The BiD Challenge is supported by 30 different partners among which NCDO, ICCO and the Dutch Ministry of Foreign Issues.
The BiD Challenge is much more than just a business plan competition. It is a platform for knowledge and networks, in which employees are engaged to use their knowledge in supporting entrepreneurs and in which investors get access to quality business plans. In this way the BiD Challenge does not only stimulate entrepreneurship in developing countries, it also puts companies and investors in contact with poverty reduction in a unique way. Because of the great success of the BiD Challenge International the concept will be rolled out to several developing countries in the forthcoming years to make more efficient use of local knowledge and networks.
René Malcorps, winner of the BiD Challenge 2006, proved that not only do SMEs generate employment and income, they are also an engine for innovation and expertise. Malcorps won one of the main prizes with his plan "African Skin", a unique concept to develop products from bark in Uganda. With his business he supports local society, as well as the environment. The first products of "African Skin" have recently been launched.
This year participants can win upto €20.000, with a total of €240.000 in prize money!
The BiD Challenge 2007 is open to start-up or established entrepreneurs with a business proposal for a new, or the expansion of an existing enterprise in a developing country. The enterprise is in need of an investment between €5.000,- and €500.000,- and will be profitable within 3 years.
Registration deadline: 31th of May
For more information see www.bidnetwork.org