Women entrepreneurs who are interested in applying to the program should submit the online application form. The enterprises that will make the shortlist will be informed via email within 4 days after the application deadline to schedule an interview call with the program team. Shortlisted enterprises will be informed via email within 7 days thereafter to schedule an interview with the selection panel. A total of 20 women-led enterprises will be selected to join the program.

Yes, the program is free for all selected participants.

Applicants must have monthly revenues of at least PHP 150,000 (USD 3,000) to be eligible for the program. Through the program, we are looking to provide working capital loans of PHP 100,000 to PHP 500,000 – this means that the enterprise should be able to meet the repayment schedule of such a loan.

As this is a program focused on business growth, WE Rise is looking for women entrepreneurs with ambition to grow their businesses and are seeking growth capital from PHP 1,000,000 (USD 20,000) to PHP 10,000,000 (USD 200,000).

WE Rise program team will review online applications of women-led enterprises based on the following eligibility criteria:

1. Business ownership:
   1. Businesses with 51% or more women-ownership
   2. Founded by a team of at least 50% women
   3. Has two or more women actively serving in a top leadership role (CEO, COO,CTO)
2. Based and operating in the Philippines
3. At least 1 year of operations
4. Average monthly gross revenue of at least PHP 150,000 (during or prior to COVID-19)
   * If you don’t meet this criteria, please reach out to us at werise@villgrophilippines.org
5. Interested in growing the business and accessing working capital or other forms of financing

While we are seeking companies with traction and revenues of PHP 150,000, we will consider enterprises that can demonstrate potential for growth even if they fall below the revenue threshold. We highly encourage you to apply. Kindly reach out to us at werise@villgrophilippines.org if you have any clarifications.

The loan is a key component of the program; hence, it can only be accessed by program participants.

A primary goal of the program is to prepare the participants to become investment-ready and access financing. During the early months of the program, participants will work with the program team to demonstrate that they can manage and repay working capital loans, as well as develop business resilience plans. After a review of the financials to assess whether the participant entrepreneurs are eligible and the business needs short-term financing – access to a specially developed collateral-free loan product will be made accessible through a dedicated financial institution partner. Due process of the partner financial institution will be followed for the loan application, disbursement and repayment. In addition to this, access to follow-on funding options will be made available as the participants go through the program based on need.  

We will select 20 enterprises to participate in the WE Rise 2020 program.

Our goal is to design the program to meet the needs and challenges of women-led businesses. To this extent, we will make all efforts to take into account the schedules of participants when finalizing times for the scheduled activities. Majority of the program is customized and each entrepreneur can schedule the support sessions based on their needs.

The program has three elements:

1. Learning Labs –  there will be 3 Learning Labs throughout the duration of the WE Rise Program, scheduled 3 months apart from each other – in August, November 2020 and March 2021. These are workshops which are common to all entrepreneurs scheduled at specific times – it is planned to take place over one week, with about 3 hours a day.

2. Monthly Online Masterclasses – these are 90 minute learning sessions on key business topics with experts once a month which you will need to participate in along with your peers.

3. One-on-one Support – Each enterprise will be assigned a business mentor to work with through the program – we recommend at least one call with your mentor every month, In addition, you will work with finance experts on financial management and systems, creating financial forecasts and compliance checks. We estimate this will be between 1-3 hours a month, based on your business needs.

The program will be delivered fully virtually beginning August 2020. The Villgro team will be communicating regularly with selected women entrepreneurs throughout the duration of the program. The intensive incubation support will be conducted through a mix of learning labs, interactive webinars, mentoring sessions, and investment readiness and compliance technical assistance. The sessions will be a mix of common group activities and individual team activities and will make use of digital, video, and offline/downloadable content. Based on the situation on the ground, the program may culminate in an in-person gathering in mid-2021.

Feasibility of Business Models
The enterprise must have a defined customer segment and a viable revenue stream. It must have a strong product-market fit and it can be applied efficiently to the target market. There should be strong channels to reach consumers.

Potential of Scale
The product must be relevant to its target market. The business model should be replicable to other markets or geographies.

Sustainability
The enterprise  is able to adapt to economic, environmental, social, political. technological and market changes in its industry. It is able to manage and grow the business through its profits.

Impact
The enterprise is creating a relevant improvement to current practices of their industry. It is improving the lives of its customers, employees, partner organizations. The team and board are committed to building an ethical and responsible business.

Capability of the Team to Execute
The entrepreneur and her team is passionate and committed, has the right set of skills and mindset to execute their ideas, and has the ability to inspire confidence among future stakeholders.

Growth Capital Needs
The entrepreneur is motivated to grow the business and would require growth capital to do so. The entrepreneur and her team are interested and open to accessing external funding to meet their growth needs.