Bulletin Board


/ 9 April 2021

PhilDev foundation and Cebuana Lhuillier Foundation, Inc. are calling students to join the three-week competition that aims to discover and support novel efforts towards boosting financial literacy in underserved communities in the Philippines.

Students can pitch their ideas to increase financial literacy in communities and want to improve their entrepreneurial skills may enter the challenge through the Students Track.

Meanwhile, professional teams who have existing financial literacy solutions and are looking to reach more communities with their innovation can enter the Professionals Track.

Interested participants can submit their innovation pitches on its website until April 16.

Winning student teams will receive P20,000 while winning professional teams will receive P100,000 for their project implementation.

CLFI Executive Director Jonathan Batangan said that the Philippines need for financial literacy should be considered as the country has a low level of literacy.

“In the Philippines, the need for financial literacy is great considering the low levels of literacy in the large section of the population which still remains out of the formal financial setup, particularly in the rural areas. For Cebuana Lhuillier, we aim to further empower communities through financial wellness, especially with the unexpected emergence of COVID-19,”  he said.

“We launched the PhilDev Labs Innovation Challenge because we believe that innovation and entrepreneurship are crucial pillars in eradicating poverty and promoting nation-building. We are continuously collaborating with organizations like Cebuana Lhuillier Foundation because we believe that with synergy, we can do more to enable success,” said Executive Vice-Chairman of PhilDev Foundation Dr. Eric Tomacruz.