1st Entrepreneurial E-Commerce Excellence (E3) AwardS

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First E3 Competition Comes to a Close

Mozcom, together with Unionbank, set the stage for the first Entrepreneurial E-Commerce Excellence (E3) competition on June 2006. Open to all university and post-graduate students nationwide, the contest brought together some of the brightest e-business ideas ranging from fashion, retail, agriculture, to services. The competition’s premise lies in the discovery and development of the raw business ideas of budding technopreneurs. Its organizers believe that encouraging entrepreneurship among Filipinos can aid in the country's economic growth.

The contest involves not only the creation of a business plan, but also the execution of the business idea prior to the final judgment. All ventures must accept online transactions through the PayEasy Online Payment System. The entry submissions took place last November. After which, ten candidates were short listed as finalists. The finalists, hailing from NCR, Cebu, and Baguio, were given four months to implement their system.

It was during the final presentation held on March 22 and 23 that the best teams stood out from the other finalists. Sitting on the panel were Beta Gan, Chairman and CEO of Mozcom; Robertson Chiang, Mozcom CTO/COO; Hermie Pugeda, Unionbank’s Executive Vice President for Corporate Product Banking; and Ramon Duarte, Unionbank’s Head of e-Channel Solutions Management. The criteria for judging included originality, innovativeness, market potential, usefulness, and implementation. Brilliant ideas could only go so far. It was ultimately the execution that determined which teams headed for first and second place. The awarding was held on March 30 in Merk's Bar and Bistro where the winner and runner-up were awarded Php50,000 and Php25,000 consequently.

Leading the pack is BEADA.com, a retailer for customized jewelry. Through a click-and-drag interface, users can create their own necklaces, bracelets, anklets, and other fashion accessories. The group is composed of Karl Satinitigan from the Ateneo de Manila University, Eliel Sarmiento from De La Salle University, and Jed Cagalawan from De La Salle-College of St. Benilde. In second place is eAgribusiness, a B2B portal that matches farmers and farming cooperatives with businesses. The team is composed of Melvin John Sedano, Elric Dayanghirang, and Archie Riva, all from the Ateneo de Manila University.

The results of the first E3 competition showed a lot of promise that Mozcom is considering making it an annual event. Indeed, it was a fine showcase of what today’s Filipino youth has to offer. Duarte says, "It’s very clear to me that the spirit of entrepreneurship is alive and well among this crop of students". His co-judges share the same sentiment. "If they represent a microcosm of future entrepreneurs in the country, then surely the Philippines is well on the road to progress. What is heartening, too, is the fact that these budding entrepreneurs are not motivated by profit alone…but also by a sense of social responsibility," Gan shares.

Ideas alone do not make great businesses. They are only starting points that have to be refined, nurtured, and cultivated into ventures that the community can truly embrace. The first E3 competition is only one way to discover and tap into these raw ideas. The entire experience can be summed up by Pugeda when he says, “it was an experience that proves that any germ of an idea should be respected, entertained, listened to openly, analyzed, criticized, and be made to bloom. Only by such positive response can we keep the spirit and passion for Entrepreneurial e-Commerce Excellence alive."

E3 judges sharing a light moment before the gruelling task ahead	First Runner-up e-Agribusiness Team giving their presentation.
e-Agribusiness team accepting their award at Merk's Bar and Bistro	First Prize winners Beada.com accepting their award.