Development Advance Institute (DAI), a local company specializing in humanitarian and social development issues has brought together various partners on an initiative that is expected to create young millionaire entrepreneurs.
The initiative, according to Development Manager Otto Von Rudloff, is basically a competition where applicants will develop a business proposal that they will submit for assessment. “We’re targeting ambitious entrepreneurs aged 40-years and below. Applicants will be required to pay a fee of about P1 200.00 that will get them accredited for training,” he said.
From the process, Von Rudloff says, shortlisted candidates will be selected to pitch their ideas to a panel of judges.
A winner with the most innovative and viable idea will be selected from the judging process after presentations by the applicants.
The winner will then be taken through a year-long entrepreneur development programme where they will be assisted with tools that will aid them to become a successful entrepreneur.
Additionally, the winner will undergo a mentorship programme under the guidance of successful businessman, Jagdish Shah.
DAI has partnered with Gabz FM in the project that is called ‘Gabz FM Made BW’ and the winner will walk away with P1million inclusive of a P100 000.00 cash prize, corporate branding, office space for 1 year, a year’s worth of radio advertising airtime and newspaper space, a year’s worth of web accounting service as well as a year’s worth of digital marketing strategy and business coaching.
“The competition will produce at least one millionaire every year but we hope to increase the number of winners as time goes on,” Von Rudloff added.