Republic of the Philippines

Polytechnic University of the Philippines

College of Social Science and Development
Department of Economics

Charmaine M. Cruz

BS Economics 2-2

Sir. Abelardo Abellera

January 10, 2017

ENTREPRENEURS OF THE YEAR & THEIR PERSONALITIES

NICO JOSE S. NOLLEDO, chairman and chief executive officer (CEO) of Xurpas,
Inc.
One of the largest listed consumer technology companies in Southeast Asia -- was
named the Entrepreneur of the Year Philippines 2015 in an awards banquet.
Mr. Nolledo will represent the country in the World Entrepreneur of the Year awards in
Monte Carlo, Monaco in June 2016. Mr. Nolledo was recognized for his vision and insight,
which foresaw the potential of mobile Internet to change how people live. While he himself
did not know how to write computer code, he leveraged his understanding of the content
needs of consumers to establish and guide Xurpas into becoming a leading mobile
application developer. In 2014, he also led Xurpas through an initial public offering that
raised capital for the company to invest in seven other technology firms across the region.
Mr. Nolledo also received the Master Entrepreneur award for applying sound
management practices in the critical areas of the company such as finance, business
development, marketing, human resources and sales. Mr. Nolledo co-founded Xurpas
with only P62, 500 in capital in 2001. Today, it has grown into a billion-peso company that
develops mobile platform solutions and mission-critical applications for Philippine
telecommunication firms, stat agencies and top-tier companies, as well as localized
content that caters to Filipino consumers.

Judith D. Versoza, president and CEO of Aveate Management Corp.,

Received the Woman Entrepreneur award for blazing a trail in entrepreneurship
and leadership. Through determination, hard work and a commitment to service

innovation, Ms. Versoza grew Josiahs Catering from a garage eatery into a key player in
the catering industry with the capacity to handle up to 30 events daily. After opening other
food-related businesses, her different companies have been consolidated into Aveate
Management Corporation.

Philip N. Tan, president and CEO of Wellmade Motors and Development Corp.,
Received the Innovation Entrepreneur award for pioneering unique world-class
processes that revolutionized the metalworking industry in the Philippines. In addition to
innovating a build-operate-transfer system for establishing machine shop franchises
around the country and even overseas, Mr. Tan also formed a research and development
team to develop high-quality Philippine-made machinery that can rival imported
counterparts.

Jose Mari R. Del Rosario, president and CEO of Microtel Inns & Suites (Pilipinas),
Inc.
Received the Industry Entrepreneur award, specifically for the Hospitality industry.
Mr. Del Rosario is credited for developing a new category of hotel accommodations in the
Philippines. He positioned the Microtel Hotel brand in the Philippines as a mid-market
hotel that offers high-quality, yet affordable accommodations. Today, there are 13 hotels
under the Microtel brand in strategic locations throughout the country.
Antonio Agustin M. Escalante, president of Escanova Ventures, Inc.,
Was presented the Small Business Entrepreneur award for best demonstrating
management excellence in a business with assets of less than P100 million. Mr.
Escalantes passion for diverse world cuisine using only farm-fresh produce has allowed
him to position Antonios and two other culinary venues as popular dining destinations in
Tagaytay City.

Republic of the Philippines

Polytechnic University of the Philippines
College of Social Science and Development
Department of Economics

Charmaine M. Cruz

BS Economics 2-2

Sir. Abelardo Abellera

January 10, 2017

RECIPE FOR SUCCESS

The objective of trade secretary Ramon Lopez is to allot P1 billion per region for micro
lending to fulfill the promise of President Duterte. If they want to become succeed the
micro financing program, the government should provide assistance in basic financial
management & entrepreneurship. Also, the government should consider introducing
basic business management or entrepreneurship 101 as part of the regular high school
curriculum.
The big players take an advantage under micro players. Small producers cant compete
with big players. With limited financing, micro players cant afford to sell their product to
a certain mall. There should be laws that promote & protect these type of business
operations.

Republic of the Philippines

Polytechnic University of the Philippines
College of Social Science and Development
Department of Economics

Charmaine M. Cruz

BS Economics 2-2

Sir. Abelardo Abellera

January 10, 2017

SEVEN Ms FOR SMALL FIRMS

The trade secretary Ramon Lopez has coined seven Ms in English, to sum up the
essential elements to strengthen micro, small and medium enterprises.
Mindset a specific state of mind which orientates human conduct towards
entrepreneurial activities and outcomes, and it must give way to one of competition as
small producers occasionally need to be willing to team up and cooperate to meet volume
orders from institutional and exports buyers.
Mastery of technical and financial aspects of the business, spells the difference between
small firms that succeed and those that do not.
Mentoring initiatives are crucial, whether by the government, business and professional
groups or civil society organizations.
Markets are more accessible when good communication and transport infrastructure link
firms readily with their buyers.
Machines have been good basis for inducing and raising the productivity with better
technology and equipment.
Money challenge to SMEs need little further elaboration. The countries that successful
in funding their SMEs use public funds to sustain the financial institutions mandated to
deliver SME loan or even equity financing.
Models of inclusive business through synergizes between large and small enterprises
must be made known far and wide.