PhilWISE links social enterprises with Overseas Filipinos
The Philippine Worldwide Initiative for Social Enterprises ( PhilWISE) is engaging the Overseas Filipinos to support social enterprises and development projects to contribute towards sustainable development. Phil WISE is a non-stock non-profit organization that functions as a social investment marketplace that promotes social enterprises and development projects in the Philippines to overseas Filipinos. This is in response to the growing interest of Overseas Filipinos to invest and assist in development projects but are unaware of existing initiatives in the home country.
The vision of PhilWISE and what it hopes to do
The vision of PhilWISE is to be the lead social investing marketplace platform of overseas Filipinos supporting sustainable rural communities. Its mission is to ensure that resources of overseas Filipinos are invested in sustainable agriculture initiatives that create value for them, their families and their communities. It has 4 fold objectives namely:
- To identify and assist cooperatives, social enterprises, community-based organizations and social entrepreneurs by helping raise much-needed capital and linking them to market ;
- To provide a web-based platform to promote and raise funds for viable social enterprises that requires support from Overseas Filipinos and their families;
- To monitor, evaluate and report the performance of the different social enterprises supported; and
- To serve as a vehicle for harnessing the potential of Overseas Filipinos towards local economic development.
The PhilWISE is an initiative organized by non-government organizations and migrant leaders involved in advocating financial literacy and mobilizing funds to support social enterprises towards rural development. These organizations involved are Atikha, Wimler Philippines, The Global Filipino Investors- Singapore and Pinoy WISE network organizations in different countries.
This November 15, 2017, PhilWISE launched several projects for social investing.
The social enterprises
- Ekolife Coffee Shop Iloilo
Ekolife is a joint venture between Ekolife OFW cooperative, Atikha and Bote Central. Ekolife OFW Coop, is one of the first marketing cooperative owned and operated by the OFWS and families. It was established to provide opportunities to market the products of the OFWs, their families and communities. Atikha, a non-government organization involved in addressing the negative impact of migration. It engages the migrants and families to ensure the productive use of their resources so that migration will contribute to the development of their families and communities. Bote Central Inc. is a company focused on production and marketing of Philippine coffee. It developed the first Philippine community-based coffee roasters earning support and recognition from the Department of Agriculture. Bote Central ensures a fair price for coffee farmers and quality of coffee beans to promote the Philippine coffee industry’s sustainability.
Ekolife Iloilo will be operating a coffee shop and pasalubong center. It will also serve as a roaster of coffee beans for the whole Panay Island. Wherein other coffee shops can buy and serve the beans at their own shop and coffee lovers can buy freshly roasted coffee beans for their own consumption. It will also sell processed products produced by OFWs, their families and communities which are healthy and other products that uses environment friendly practices i.e. recycled products.
Requires additional Php 3 M capital for the coffee shop which is opening in Dec 2017
Investment MechanicsMinimum Investment Php 10,000 – 4% guaranteed return for 6 months ….. 8% guaranteed return for 1 year Be a member of the Ekolife OFW coop and the investment is locked for 2 years and have projected return of 15%-30%.
- Cacao Nursery Investment
Hermie Alipat is a social entrepreneur who operates a 22-hectare organic farm located in Brgy. Iwa Macatol, Pototan, Iloilo. He saw the opportunity in seedling production since there is no existing cacao nursery in Panay Island. He has gained expertise in seedling propagation due to long years of being an agri-preneur and cacao producer. Currently, he needs an additional P1.6 million capital for the nursery production of 500,000 seedlings to be delivered to the Department of Agriculture.
Minimum Investment: P10, 000
Lock in period: One year
Income: 15-25% (not guaranteed)
- Inabal Weaving for Bagobo-Tagabawa Women of Bansalan Davao Del Sur
The Inabal is the woven cloth of the Bagobo Tagabawa women. It was in the verge of extinction because of the dwindling number of women involved in weaving because of lack of market.
Weaving of Inabal is the main source of income of 25 women weavers who are trying to keep the art of weaving alive. Vivencia Mamites, is the leader of the Tribal Women Weavers Association of Bansalan Davao del Sur who are the hope of saving the art of Inabal weaving. This is the only source of income for the Bagobo-Tagabawa women. However, they are faced with the challenge of lack of capital, lack of market and lack of weaving center where they do the community weaving.
We are raising funds of $10,000 for the working capital of the women weavers. Donate $200 and you will receive 4 meters Inabal cloth Donate $100 and you will receive 2 meters Inabal cloth
For those interested to invest and/or donate, please email [email protected]