AFFI EntrepOlympics ©
The aim of AFFI EntrepOlympics © is to help foster the entrepreneurial spirit among young students.
The Association of Filipino Franchisers, Inc. (AFFI) will launch an activity focused on the youth called the AFFI EntrepOlympics.© AFFI is the prime trade organization committed to promoting responsible and home-grown SMEs through franchising.
What is the AFFI EntrepOlympics ©?
The EntrepOlympics© 2018-2019 Food Edition is a competition with the aim of sparking an entrepreneurial mindset among them. It is open to senior college students taking up any business- or food-related course with food business concepts that they may want to franchise in the future.
- Related: Teaching Entrepreneurship for Kids
How to Join
To join EntrepOlympics©, schools are encouraged to choose their participants. They could be individual or groups with maximum of five (5) members per group, up to three (3) contestants per school.
The students should be registered in the participating school. Startup capitalization for the business concept should not exceed Php 500,000. Using technology, contestants can submit their concept papers and pitch their business ideas online to the AFFI Panel of Judges. There should also be a Letter of Endorsement from the School President, plus personal profiles of each participant.
Choosing the Winners
From all entries submitted online, 20 semi-finalists will be chosen. They will then participate in a 3-day Entrepreneurial Boot Camp. Fifteen finalists will then be chosen to move on to the next level of competition. After that, each finalist will be assigned their respective AFFI coaches who will help them see their business ideas come to life. They will then be prepared for the “testing” stage of their concepts.
The finalists will then be given the opportunity to test their business ideas through actual selling of their products at various food selling hubs. Venues will be Mercato Centrale, Legaspi Sunday Market, and Department of Trade and Industry (DTI) trade fairs.
For the competition’s last stage, the 15 finalists will pitch their ideas to the AFFI Panel during the 3-day “AFFI Franchise and Business Expo” on February 2019. There, they will be able to showcase their products with their own booths.
Criteria for Judging
Criteria for selecting the winning business concept includes:
- Concept uniqueness
- Optimization of the startup capital
- Financial viability
Winners and Prizes
Five (5) grand finalists will be chosen among the Top 15. The 4th to 1st placers will receive the following:
Plaques and medals
AFFI membership certificate
Eligibility to participate in AFFI learning events
Free 4-square meter booth at the 18th AFFI Franchise Expo in 2020
Consolation cash prize
- Free 1 ticket each to the 2nd AFFInity Summit
- A dedicated Mentor-in-Charge
- Meanwhile, the Grand Winner, meanwhile, will receive the following:
- Seed Capital of Php 250,000
- Free 5 tickets to the 2nd AFFInity Summit
- Free 6-square meter raw booth space at the 18th AFFI Franchise Expo in 2020
- A dedicated AFFI mentor
- AFFI membership
- Entry to AFFI learning events
“The AFFI EntrepOlympics © is our own way of discovering young talent to go into entrepreneurship already. What better way to start this than going to the schools. This activity definitely fulfills part of our AFFI slogan ‘Para kay God, Para sa Bayan, Para sa AFFI,” affirms AFFI President Marie Joyce Co Yu. She is also the President and CEO of Trueblends Tea & Coffee.
To register for the EntrepOlympics©, visit https://tinyurl.com/
AFFI Center, Unit 406, A.N.Y. Building, #38 Timog Avenue
Brgy. Laging Handa, Quezon City
Tel. Nos. (02) 746-3237, (02) 957-8486 and (02) 504-3693
Mobile 0949-8890758, 0917-5182334 or 0917-5199837
Email: email@example.com or firstname.lastname@example.org