10 februari 2007
Thierry Sanders establishes the BiD Network Foundation
The BiD Challenge offers entrepreneurs worldwide a platform to develop business plans for profit and poverty reduction; receive professional feedback and assistance from business coaches; win prize money or get exposed to a network of (social) venture capital, NGO's, corporations (BoP), SME's and foundations.
The BiD Challenge offers companies and NGO's a concrete tool to support poverty reduction through SME development in developing countries by engaging and communication their already existing competence, expertise network and interests.
The BiD Challenge offers professionals the opportunity to directly contribute to increasing entrepreneurship in developing countries and poverty reduction. Professionals are engaged as screener (to asses the business proposals), coaches (to assist entrepreneurs in writing a complete business plan) and/or Jury members (to select the winners).
The Business in Development Challenge organised two successful international business plan competitions and created a on-line community, which now has 3700 active members. The Bid Challenge received over 2000 business plans and engaged over 300 professionals from corporations and NGO's to screen and coach plans. In the first year alone Thierrry and his crew assisted the start-up of almost 20 companies in developing countries that help reduce poverty and employ over 500 people. They expect around 30 start-ups over the 2006 Challenge.
Over 1.5 million people are reached annually with the message that poverty reduction through business can work.
The brandnew BiD Network Foundation will:
â€¢ Focus on increasing quality and established businesses;
â€¢ Roll-out the BiD Challenge to 7 developing countries to enable local screening, assessment, follow-up, finance and exchange;
â€¢ Mobilise loans, private equity in addition to prize money;
â€¢ Investigate the roll-out of the competition to European countries;
â€¢ Start the creation of an online investment facility for investors and SMEs.
P+ webtip: The New Bid Foundation