Ilocos norte: The provincial government of Ilocos Norte is calling all aspiring and existing entrepreneurs, including students, to join this year's search for the best business concept for a chance to win attractive prizes. The annual contest, which is open to all bona fide Ilocos Norte residents, aims to entice more Ilocanos to venture into business and take part in boosting the province's economy, according to the provincial government's Micro, Small, and Medium Enterprises Office (MSMEO).
According to Philippines News Agency, MSMEO head Elma Gabriel mentioned in an interview that the contest will focus on newly developed technologies, information technology-based systems and solutions, smart tools, and solutions designed to sound innovative, inspiring, and aligned with sustainability and entrepreneurship. 'Participating teams or individuals may use other locally-sourced raw ingredients to augment the finished product and services,' she said.
The deadline for submission of business plans is on Oct. 10, 2025, for pre-screening. A total of 15 participants will be shortlisted and will automatically become part of the exclusive "Adal ken Sirmata" (Knowledge and Vision) innovators group. These participants will be enrolled in the Ilocos Norte MSME Incubation Center, where they will receive coaching and mentoring on developing and enhancing their business pitch and negotiation skills, and training on how to prepare a business plan.
This year's grand prize winner per category will take home PHP30,000 while the runners-up will receive PHP15,000. There will also be consolation prizes worth PHP5,000 for the best business concept in food and non-food categories. In the past five years since the pandemic, Ilocos Norte has seen the growth of MSMEs that have contributed to the province's economic growth, employment, innovation, and poverty alleviation.
Through the search for business concepts, the provincial government is hoping to inspire more individuals or groups to venture into business and for small and medium enterprises to become large-scale. Government data shows that MSMEs account for 99.5 percent of established businesses, employing about 63 percent of the country's workforce.
