A priceless collaboration

MANILA, Philippines - What is a global financial services firm with assets of over $2 trillion doing in a community of informal settlers in Tondo, Manila?

Changing lives, and offering new hope to residents in underserved communities.

JPMorgan Chase & Co., a global financial services leader with operations in over 60 countries, continues to partner with Bayan Academy (an affiliate of the ABS-CBN Bayan Foundation) and World Vision Philippines to provide education to disadvantaged children and their families in the BASECO community in Tondo, Manila. 

The collaboration, now on its second year, aims to provide holistic and sustainable programs geared towards uplifting the lives of disadvantaged Filipinos.

The 1st JPMorgan Chase Entrepreneurship Education Program for Community Development focused on developing and enhancing the entrepreneurial skills of the parents of World Vision Philippines-sponsored children in the BASECO community. Twenty-eight parents and relatives of the initial 25 JPMC-sponsored children from World Vision Philippines graduated from the program and have since reaped the benefits of their training, with a majority having started their own businesses and thereby improving the quality of the lives of their families.

Following the success of the first batch, the 2nd JPMorgan Chase & Co. Entrepreneurship Education Program started in December 2011 and will continue until May 2012. One major development of the program is that it now offers participants a choice of which technical skill they want to work on; from culinary to hairdressing to beauty care. The number of attendees also increased from 28 in 2011 to 48 in 2012.

In 2010, Barangay 649, Zone 68 in Manila, an area heavily populated with informal settlers, was adopted by JPMC, which also started a commitment to help change the lives of its residents when it partnered with Bayan Academy. The partnership started a program that equips residents with the proper skills and attitudes to own and manage a small business. At the same time, it also sought the help of World Vision Philippines in providing quality, value-rich education to the children of these residents.

The JPMC Entrepreneurship Education Program for Community Development was also created to promote a culture of volunteerism and corporate philanthropy among JPMC employees, maximizing their skills and experiences and allowing them to provide program participants with a better understanding of personal finance and accounting, personality development and entrepreneurship skills.

At the start of second batch of the program, parent-participants were inspired by the testimony of one of the program’s partners as he spoke of his life-changing career shift from teaching to hairdressing. Bayan Academy president Raul Manikan also gave a motivational talk on the possibility of a better life for anyone who strives to achieve his/her goal with firmness and belief in their capabilities.

Program host Matteo Guidicelli, World Vision executive director Elnora Avarientos, Bayan Academy chair Eduardo Morato, Jr., ABS-CBN Foundation managing director Gina Lopez and JPMorgan Chase senior country officer Roberto Panlilio join the graduates in celebrating their culminating activity.

Participants also learned the how-to’s of starting a beauty salon, spa and massage, beauty care and food-related businesses through the various technopreneurship modules developed by Bayan Academy.

From the 28 who completed the first batch, 17 are now actively involved with the Culinary Guild. Six graduates of the Commercial Culinary Course passed the National Certificate Level II administered by TESDA. They now have an edge over other applicants should they wish to apply for related courses here or overseas.

On an individual basis, each guild member is already self-sustainable, earning profits by catering food to the World Vision students of the community. Some even help out at the Bayan Academy during Fridays and Saturdays to earn extra money.

Roberto Panlilio, senior country officer and chairman of the Philippine Philanthropic Committee, JPMC, is delighted about the achievements of the first batch of participants and is confident of the success of the ongoing programs in 2012. “JPMC remains committed to leading the way through public and private partnerships that increase sustainable impact and address the various issues of communities in need. The Technical Skills, Livelihood Development and Education programs are a testament to its objectives of improving social conditions for the underserved population in the BASECO community.”