Competition stimulates entrepreneurial business culture

The Andean Development Corporation (CAF), Nueva Economía weekly, Swisscontact and the Business Council for Sustainable Development (CEDES Bolivia) presented the first Business Ideas and Plans Competition under the title "Enterprising Ideas 2004." An annual prize will be awarded for stimulating the creation of new businesses, building entrepreneurial spirit and promoting a business culture that generates higher levels of competitiveness.

The project has three phases. The first opens a period for presentation of business ideas. The best proposals move to a second stage where various universities in the country of origin advise on how to transform them into business plans. The third phase is final evaluation and the awards. The three best plans receive cash prizes of $10,000, $5,000 and $2,500 as seed capital to set up their businesses. The awards will be presented on December 7.

For the winners, the prize will open contacts with potential investors and define future business opportunities. The advice provided by the universities is designed to provide participants with discipline and training in business plans, which are an effective tool for starting a business. In La Paz and El Alto, the winners may enter the company incubator project which will operate initially in these cities.

The project is backed by the Andean Development Corporation (CAF), Swisscontact and the Business Council for Sustainable Development (CEDES Bolivia). These organizations create initiatives in favor of competitiveness, and have developed specialized methodologies to strengthen small and medium-sized enterprises, and stimulate initiatives in the production area. Their presence guarantees the continuity of the project in the future.

CAF representative José Carrera explained that one of the Corporation’s main objectives is to develop the competitiveness and productivity of member countries, which means not only building basic infrastructure but also promoting initiatives that stimulate an export mentality.

For Carrera, the competition will help identify a group of potential entrepreneurs and the best ideas for stimulating productive projects in an effort to place new products on local and foreign markets. The initiative includes a network of people and institutions which have confidence in Bolivia, and wish to invest and generate production. According to Carrera, the Enterprising Ideas competition is part of a wider program that the CAF is promoting to set up an national integrated network of company pre-incubators and incubators.

In the opinion of Nueva Economía, the aim of the competition is to promote an entrepreneurial culture that stimulates creativity, initiative and effort. With a competitive vision, new businesses will emerge to generate greater wealth and employment. Countries that have taken the path of creating companies have enhanced their economic development and improved employment conditions.

For the Business Council for Sustainable Development (CEDES), the "Enterprising Ideas" competition is a bridge to business opportunities that will improve the quality of life in Bolivia through sustainable "enterprising ideas." Bolivia needs productive and competitive companies that help move from uncertainty to security. In these times of crisis, the country needs positive ideas.

Swisscontact believes it is important to open up possibilities for successful businesses that bring higher income. The competition is a commitment to Bolivian economic development, a contribution that will be gradually improved as the initiative gains experience.

For more information and registration, visit the Ideas emprendedoras. There are no restrictions of any type. Participants may submit any number of ideas, whether new or in gestation, in any area of business. Involvement can be individual or team. Special merit is given to creativity, innovation and the proposal’s impact on generation of employment and wealth in Bolivia.