Filipina founder of algae food company wins Cartier business plan award

A Filipina who founded a company that makes food from algae became the latest awardee of the Cartier Women’s Initiative Award. The award, an international business plan competition for projects by women entrepreneurs, was given to Kimberley Ong, a 2008 BS management graduate of the Ateneo de Manila University.

Ong was also declared the 2009 Laureate for Asia during a ceremony held on October 16, 2009 at the Women’s Forum for the Economy and Society in Deauville, France. Ong, together with fellow Ateneo graduates Katherine Cheng (BS ComTech ’08) and Justin de la Cruz (BS Mgt ’07), co-founded AlgaVentures Co. early this year and entered it in the 2009 CWIA. The company produces healthy food products using spirulina algae, a statement issued by the university said. Pandelina, a nutrition-packed line of food products innovated to reverse the effects of malnutrition, have been developed as a tool to help government, corporate, and non-government groups to address malnutrition. At least four million children in the Philippines suffer from malnutrition. “AlgaVentures is about realizing a dream that no mother should ever lose her child to malnutrition, no child should ever go to bed hungry. With Pandelina, we aim to fight hunger and malnutrition one child at a time," Ong said. More than 800 applications from 79 countries were received for this year’s competitions, the statement said. Screening involved two rounds – the first in May and the second in October. The laureates were screened by an international jury of entrepreneurs and members of the business community based on the creativity, sustainability, and social impact of the candidates’ start up projects. Last year, Ateneo alumnus Renee King (B.S. Mgt ’07) also won the CWIA and was declared 2008 Laureate for Asia. King, along with other B.S. Mgt ’07 graduates Caroline Cua, Gabrielle Ocampo, and Jenica Cruz, co-founded Tamang Timpla Foods, a food manufacturing startup that promotes naturally-pure and healthy Filipino foods. The founders of both AlgaVentures and Tamang Timpla developed their products while enrolled at the School of Management Business Accelerator Program (SOMBA). Established by Cartier and the Women’s Forum for the Economy and Society, in partnership with McKinsey & Company and INSEAD business school, the Cartier Women’s Initiative Awards is an international entrepreneurship competition for women. One laureate each for Africa, Asia, Europe, Latin America and North America is awarded annually and given a US$ 20,000 (P930,000) grant, coaching support for a full year and an exclusive trophy designed by Cartier. Applications for next year’s Cartier Women’s Initiative Awards open on November 10, 2009 and end on March 10, 2010. Find out more at www.cartierwomensinitiative.com. - GMANews.TV