Payoneer is giving entrepreneurs a chance to unlock their full potential as business owners with its incubation program in collaboration with Bridge for Billions. The program will help startups through one-on-one mentorship from an industry expert and access to a dynamic community with their co-participants and other leaders.
Small-to-medium businesses and freelancers in any sector of the emerging digital economy are invited to apply. The program is open to startups based in the Philippines and can commit to a four-month program. Payoneer is also seeking industry experts to mentor the next generation of business leaders. More than these details, there are many more reasons to be excited about this innovative entrepreneurship program. See the list below!
#1. Payoneer chose the Philippines for its first-ever incubation program for entrepreneurs.
Payoneer is a leading global payments platform that serves millions of customers worldwide and provides solutions to solve their biggest payment challenges. It has 24 offices worldwide, yet the global brand chose the Philippines for the pilot run of its incubation program.
The “Bridge for Billions Incubation Program for Filipino Entrepreneurs powered by Payoneer” is part of the global brand’s commitment to supporting digital businesses, significantly contributing to the Philippine economy. In 2020, the freelance industry saw a 208% growth in revenues. Meanwhile, the information technology and business process management sector closed 2022 with revenues of $32.5 billion. These industries continue to increase in demand in the Asia-Pacific market.
#2. Participants get a glimpse of an Ivy League discipline.
Payoneer’s incubation program employs the Innovation-Based Entrepreneurship Methodology inspired by a concept developed at the Massachusetts Institute of Technology. MIT is part of the Ivy League, a series of elite universities in the USA known for academic excellence and selectivity in admissions. Entrepreneurs should look out for this exclusive experience as it is beneficial when they venture their products or ideas into the market.
#3. Exclusively learn from passionate industry experts.
Mentorship is an integral ingredient in a small business’s success as it can lead to growth opportunities and guidance on managing and scaling its operations. The incubation program is designed for entrepreneurs to be paired with a specific mentor for one-on-one guidance.
The incubation program also presents a remarkable opportunity for industry professionals to give back to the community and share their passion for entrepreneurship by mentoring an early-stage business. Inspiring and empowering entrepreneurs to reach their goals is indeed an intangible reward for business mentors.
#4. A pitch competition awaits: A grand winner can take home about PHP 100,000.
After the four-month incubation process, a select number of entrepreneurs will join a pitch competition, where they’ll have the chance to present their business plan to a distinguished panel of judges. The winner will take home the grand prize of $2,000 or about PHP 100,000. The first runner-up gets $1,500, and the second takes home $1,000.
#5. Bridge for Billions has empowered over 3,000 entrepreneurs worldwide.
The incubation program is in partnership with Bridge for Billions, a social enterprise that offers programs for entrepreneurs who want to access the business ecosystem. It has successfully worked with over 3,000 entrepreneurs worldwide. Out of these businesses, 75% of supported enterprises have formally registered their businesses two years after the program. Moreover, 94% rated the program as important to their success, and many saw their revenues jump up to 2.4 times.
BONUS: Applying as an entrepreneur or mentor only takes 20 minutes!
Once you’re on the application page, you’ll be asked to create a Bridge for Billions account that will not take you more than 2 minutes. After that, you’ll automatically be on the application portal where you will be tasked to accomplish a 5-part information sheet. Before you know it, you’re done and will be contacted after the application review. Be sure to review that you’ve accomplished all parts to submit a successful application.
“At Payoneer, our mission is to empower entrepreneurs everywhere to do business anywhere. Our incubation program aims to elevate Filipino freelancers and entrepreneurs and help them go beyond boundaries and seize more opportunities. Join us in this journey to embrace the new possibilities of the digital age,” says Jen San Antonio, Marketing Lead for APAC’s Emerging Markets at Payoneer.
Join the Payoneer and Bridge for Billions incubation program today. Interested entrepreneurs may sign up at programs.bridgeforbillions.org/payoneer-for-entrepreneurs/. Mentors may sign up at programs.bridgeforbillions.org/payoneer-for-mentors/. Application for entrepreneurs and mentors is open until December 30, 2023.