Entrepreneurship for the masses

• Main Authors: Calimon, Carlo Edmund C., Fajardo, Eric M., Bernardo, Francisco M., III, Tia, Kristina A.
• Format: text
• Published: Animo Repository 2009
• Subjects: Entrepreneurship; Entrepreneurial and Small Business Operations
• Online Access: https://animorepository.dlsu.edu.ph/faculty_research/13451
• Institution: De La Salle University

Small and medium-scale entrepreneurs are the undisputed champions of our economy. Statistics say "Entrepreneurship Education increases the likelihood of new business ventures by 25%". It is, however, rare to find quality entrepreneurship education in the Philippines. We believe that there is a pressing need to make this available at ALL levels of society. Statistics say that "in the Philippines, only one in every 100 students will get a job after graduation. The target recipients of this project are high school and college students to boost the entrepreneurial spirit among them.The project is called "Entrepreneurship for the Masses". It is the production of instructional and inspirational video modules to aid in the teaching of Entrepreneurship primarily in public schools. The instructional videos contain the basics of starting your own business, covering topics from opportunity seeking to product development, all the way to business planning. The inspirational videos feature the great entrepreneurs of the Philippines and will be used to create the spark of interest among young people.It is important to note that Entrepreneurship Education has been recently included in the curriculum of schools in the Philippines through the efforts of the Department of Education. With this significant development, the Project is a perfect tool to support this mandate. After the project's objective of teaching students to develop ideas and business plan competitions. It will also expose the students to incubation, mentoring and access to funding.The Project's target is the 7,890 high schools and 1,480 colleges all over the Philippines, translating to the 8.5 million students. No other company produces curriculum-based educational materials on the subject of Entrepreneurship in the country. The materials currently available are produced by foreign companies/universities and are purchased abroad or through the internet at a very expensive price. In contrast, the videos we will produce cheap. These will also be the first video modules that will feature home-grown Filipino entrepreneurs so that the students can relate better.The foundation has met with the heads of the Department of Education for the accreditation of our materials and response has been positive. The videos will be priced at a very low price. Partnerships are also in the place with relevant groups for the curriculum development, video production and distribution.The LET'S GO Foundation's head is Mr. Francisco M. Bernardo II, a professor at the Asian Institute of Management, actively designing and developing course materials for its entrepreneurship programs. He was awarded as one of the 2004 Ten Outstanding Young Persons of the World in the Field of Entrepreneurship given by the Junior Chamber International.It is expected to penetrate 70% of High Schools nationwide by the third year. It is estimated that for the first three years revenues and net income will average Php9.2Million and Php2.3Million, respectively. Breakeven for the project is 13% of the total number of high schools or 1,025 sets of video sold on the first year. Payback period will be after 15 months of operation.The social benefits are targeted at Entrepreneurs, Schools and the Unemployed, The project achieves an NPV of Social Benefits amounting to Php27.1 Billion and an NPV of Project costs of Php78.7 Million. The Benefit-Cost Ratio is pegged at 345x while a Social Purpose Value of Php27 Billion is realized. A high SROI of 903,113% is achieved.The total project cost is PhP3,000,000 (USD 60,000), The first phase was already funded by the World Bank Group. The second and third phases currently need funding totaling PhP 2,000,000 (USD 40,000)