|The Teenpreneur Challenge is an inter-high school entrepreneurship competition that aims to help underprivileged communities uplift their lives through business, build greater awareness among the youth, and foster an entrepreneurial spirit among them. As a result, the livelihoods of micro-entrepreneurs are improved, students' desensitization towards poverty is greatly reduced, and participants' lives are enriched. Started in 2007, the Challenge has been running annually since then.||......|
Most micro-entrepreneurs are unable to maximize their earning potential due to variety of reasons. Some have little capital to increase production while others don't have access to markets. Even if the previous two factors are addressed, many times, it is the lack of understanding of customers, their wants, competitors' offerings, and creating a viable value proposition that become the main stumbling block to sustained profitability. The Teenpreneur Challenge aims to address all those issues in order to uplift the lives of micro-entrepreneurs and their communities.
This year's Teenpreneur Challenge reverted to its original schedule of September-February ten years ago, when the expo was first held at the SM Mall of Asia.
This year's expo, which was on Feb 4-5, was once again held at SM Megamall.
Some perennial podium finishers shone brightly once again while last year's upstart made it to the top in one of the major categories.
To also recognize the ability of groups that are able to generate impressive profits relative to the capital employed, the Best Return on Investment award was added this year. Below are the complete results.
Teenpreneur Challenge 11 produced great results and some significant milestones. Although the top three in sales were just reshuffled, a long-standing champion was dethroned in the process, while newcomers again made their presence felt.
Best Return on Investment
1st - St Paul College Pasig
2nd - Falcon School
3rd - La Salle Greenhills
Best in Sales
1st - La Salle Greenhills
2nd - St. Paul College Pasig
3rd - Lorenzo Ruiz de Manila
Best Product Innovation
1st - Golden Faith Academy
2nd - St Paul College Pasig and Falcon School (tie)
Congratulations also goes to PAREF Northfield and Golden Faith Academy for topping this year's "Quiz Bee" competition. Similarly, kudos to Falcon School and PAREF Northfield again for sharing first place in the "Best Booth" category with St Paul College Pasig and Lorenzon Ruiz de Manila for being joint 3rd place.
All teams, especially the "nanays" and "tatays" ended up becoming winners once again.
Every year about a dozen or so high schools from Metro Manila participate in the annual competition that aims to expose students to entrepreneurship and how it can be used to fight poverty.
Each participating school forms a team which eventually is partnered with a micro-entrepreneur from an underprivileged community.
The task of the group is to eventually innovate, 're-engineer', or change altogether the micro-entrepreneur's existing livelihood product in order to generate more sales and profits. Students and micro-entrepreneurs are given an orientation and workshops at the start of the competition.
To support the tandem, a couple of E.S.A. students and entrepreneur-mentor is also assigned to each group.
The 12-week Challenge consists of a series of activities beginning with the launch and culminating with the Teenpreneur Challenge Expo held at SM Megamall. After the expo, E.S.A. faculty also analyze the performance of the teams with the aim of highlighting key insights.
Read more about past years' Teenpreneur Challenge...