Hapinoy of Philippines Wins Asian Social Entrepreneur of the Year 2011

Hapinoy, an innovative social enterprise from Philippines, is among the five winners of the coveted title of "Asian Social Entrepreneur of the Year 2011" awarded by the Schwab Foundation for Social Entrepreneurship. The winners were announced at the Annual Meeting of New Champions in Dalian, People's Republic of China, where leading social entrepreneurs from over 50 countries converged together.

Bam Aquino and Mark Ruiz of Hapinoy say, "We look at getting the Asian Social Entrepreneur of the Year award more as a validation of our work in the Hapinoy Program rather than as a personal accolade. We also see it as a win for the Philippines, as we bested numerous social enterprises from all over Asia." Bam Aquino is the president of MicroVentures Inc., the company that launched the Hapinoy social enterprise.

Hilde Schwab, co-founder and chairperson of the Schwab Foundation for Social Entrepreneurship said, "The selection of winners this year reflects an unprecedented diversity of Asian social enterprises whose work has transformative implications both locally and globally. We see a proliferation of services for low-income consumers such as micro-insurance and micro-enterprise development. We also see a deliberate effort from social enterprises to collaborate more closely with companies to multiply that impact."

Hapinoy is a successful social enterprise that has set a goal to improve the efficiency and viability of more than 10,000 small mom-and-pop stores in the Philippines. It also provides leadership training, business coaching, and store branding to women owners of small stores in remote locations.

By aggregating demand and making direct supplies, Hapinoy ensures cost savings for store owners ranging between 5 and 15 percent. It also helps the stores achieve access to a larger variety of goods, which include daily-use articles such as prepaid phone cards, mosquito nets and over the counter medications.

Schwab Foundation, which conferred this award on Hapinoy, has been recognizing leading social enterprises in more than 50 countries around the world ever since it was established in 2000. The foundation identifies social entrepreneurs that successfully implement pragmatic and innovative solutions that tackle social problems from their roots and create social transformation.

The social enterprises chosen by the Schwab Foundation network get an opportunity to participate at the World Economic Forum events. This gives them a chance to showcase their achievements on a global platform and connect with political, business and media leaders from around the world.

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