I got news of a new innovation challenge grant from our friend Andreas Widmer at the Seven Fund. Seven is partnering with the Fisherman Foundation and Hapinoy Stores to promote innovative ways to use enterprise as a solution to poverty.

Hapinoy stores in the Philippines offer opportunities for women who are at home taking care of their families, to earn extra money by having a store in their house. The Innovation Challenge competition is looking for new ways for these micro entrepreneurs to grow their business and become more profitable.

The press release is below and you can read about the competition, Hapinoy stores, rules, and prizes here

Cambridge, MA – September 2010 – The SEVEN Fund is pleased to announce the ‘Breakthrough Innovation Grant’ (BIG) competition in partnership with the Fisherman Foundation and MicroVentures Inc.’s Hapinoy Program in the Philippines. This business concept competition is open to all who aspire to create prosperity in the Philippines through new and viable business ideas that can be offered through the Hapinoy sari-sari store network. Proposals must be innovative, resourceful, scalable, and fit the particular needs of the Philippines.