The Foundation for Liberty and Prosperity (FLP) believes that the best way to conquer poverty, to create wealth, and to share prosperity is to unleash the entrepreneurial genius of people, by granting them the freedom and the tools to help themselves in society. Thus it has become one of the chief aims of FLP to support the growth of potential Filipino entrepreneurs – those with a business vision that can potentially contribute to the betterment of Philippine society, but who otherwise would not have the opportunity to refine and hone their skills through guided learning and mentorship.
With this in mind, FLP is sponsoring the Entrepreneurship, Sustainability, Management, Economics, and Business Law (“Esmel”) Fellowships, a merit-based Fellowship Program commencing in the academic year 2021-2022 to promote entrepreneurship, sustainability, management, economics and business law. Funded by the Metro Pacific Investments Corporation (“MPIC”), through the Metro Pacific Investments Foundation, the Program aims to look for Filipinos with entrepreneurial spirits, who are one with FLP in promoting the prosperity side of its philosophy.
The FLP Esmel Fellowship is a monetary award of up to ₱450,000 of which a maximum of ₱350,000 shall be for tuition and ₱100,000 shall be for stipend to support miscellaneous needs of the student, such as the purchase of books.
FLP is now accepting applications for the academic year 2021-2022. Deadline for submission of applications is extended to 5 p.m. of June 15, 2022. Download the application form here.
Rules for Application for the Entrepreneurship, Sustainability, Management, Economics, and Business Law (“Esmel”) Fellowships
1. Eligibility. FLP is sponsoring a merit-based Fellowship Program commencing in the academic year 2021-2022 to promote entrepreneurship, sustainability, management, economics and business law (the “Program”). Funded by the Metro Pacific Investments Corporation (“MPIC”), thru the Metro Pacific Foundation, the Program aims to look for Filipinos with entrepreneurial spirits, who are one with FLP in promoting the prosperity side of its philosophy. FLP is opening fellowships for five Filipinos who have already enrolled and been accepted to one of the following institutions in the Philippines which offer an MBA or MS or equivalent program:
- Asian Institute of Management
- Ateneo de Manila University
- De La Salle University
- University of the Philippines
- University of Santo Tomas
The MBA or MS course that the student is enrolled in should have a maximum duration of two years.
The Esmel Fellowship is merit-based; however, in case of a tie, the social or financial standing of the applicant shall be given due consideration.
No institution shall have more than three (3) new awardees for each academic year.
2. Qualifications. A total of five applicants will be chosen annually for the Esmel Fellowship Program. Applicants must be Filipinos, must have an entrepreneurial spirit, and should have already enrolled and been accepted in a qualified institution in accordance with Section 1. It is preferred, but not required, that applicants currently run, or have some experience relating to micro, small, or medium enterprises (“MSMEs”). Students who study part-time are also qualified for the Fellowships, provided that: (a) these students have businesses or jobs that require their attention; (b) they must still complete the MBA or MS program within two (2) years from enrollment.
Second-year graduate students must likewise provide their transcript of records from their institution, reflecting their first year grades.
Nominees/applicants must not have taken any leave of absence, and must complete the MBA or MS program within two (2) years from enrollment. Nominees/applicants must likewise not have dropped any subject except if he or she is a part-time student provided such drop is allowed under the rules of the school, and provided further the applicant would still complete the program within two (2) years. As scholars, they must always enroll and complete the minimum load required by the school for each semester, have a GPA/QPI of not lower than 85.00 or its equivalent, and have no failing grade in the preceding academic year. FLP shall require the submission of copies of their official transcripts of records or certified copies of their grades every semester.
Nominees/applicants must embody/foster ethical behavior or must not have been found guilty of any academic misbehavior, e.g., have no criminal record, no infraction of their schools’ good conduct rules, etc.
Scholars may continue receiving the grant for the succeeding year provided they have a GPA as stated in the 3rd paragraph of this section during the preceding year, have enrolled in the succeeding year the load needed to complete the MBA or MS program of the relevant school, and have no failing grades.
3. Submissions. Applicants must submit the following:
a. An essay written in English (2,000 to 3,000 words) on the philosophy of the FLP, the applicant’s entrepreneurial vision, and how the applicant can apply the values of FLP in his/her business, or career. It should be printed on an 11-inch by 5 inch white bond paper with text in 14-point font size, Times New Roman, single-spaced, with one-inch margins on both sides, top and bottom.
The essay should answer the following questions:
- What do you understand by the philosophy of liberty and prosperity under the rule of law
- How can you and your business vision or career promote such philosophy? How can you apply the philosophy in your business or career?
- How have you positioned yourself to propagate a life of entrepreneurship?
b. One hard copy of the essay.
c. One copy of the duly accomplished FLP Fellowship Application Form and the FLP Data Privacy Statement and Consent Form.
d. A copy of the student’s transcript of records of his/her undergraduate degree.
e. If a second year student at the MBA or MS program, one copy of the applicant’s official transcript of school records for the first year.
f. A certification from the school registrar or any authorized school official that the applicant is enrolled in the school.
g. The foregoing should be mailed or hand carried to:
FLP Head Office
3rd Floor, PCCI Corporate Centre
118 L.P. Leviste Street, Salcedo Village, Makati City
These documents should ALSO be transmitted electronically to firstname.lastname@example.org.
4. Interview. An interview shall be conducted by the FLP Board of Judges. The Board shall consider the candidate’s ability to demonstrate clearly, logically and concisely what he/she has done and/or intends to do to propagate and espouse the philosophy of liberty and prosperity under the rule of law in the business setting. Although the fellowship is merit-based, the less privileged will be preferred in case of a tie. The selection shall be final when affirmed by the FLP.
5. Awarding. The FLP Esmel Fellowship is a monetary award of up to ₱450,000 of which a maximum of ₱350,000 shall be for tuition and ₱100,000 shall be for stipend to support miscellaneous needs of the student, such as the purchase of books. The amounts for the tuition fee and the stipend will be transferred to the account of the student created especially for this purpose. If the tuition fee component of the monetary fellowship award is in excess of the awardee’s tuition, only the amount equivalent to the tuition fees shall be deposited. Should the awardee secure another fellowship, he/she, if qualified, would still receive the Esmel Fellowship.
The monetary award is intended to cover the entire duration of the course taken or being taken by the nominee/applicant. Where a student is enrolled in a program with a two-year duration, half of the award will be given during the first year, and the second half will be given during the second year (i.e., for each year, only ₱175,000 would be for tuition, and only ₱50,000 would be for stipend).
FLP reserves the right to revoke the award if the student is found guilty of unethical behavior or academic misbehavior, e.g., has a criminal record, imposed a penalty for an infraction of his/her schools’ good conduct rules, etc.
6. Unclaimed award. If, for any reason, an awardee is unable to attend schooling or is unable to claim the monetary fellowship award within 30 days from the date of the notice of the award, FLP may cancel said fellowship award and grant it to another qualified nominee at its discretion.
7. Reimbursement. Considering the deadline for applications provided in Section 9, awardees who had already paid the tuition for the corresponding semester would be reimbursed upon submission of their proof of payment. Where partial payment had been made by the awardee as allowed by the school in question, FLP would likewise reimburse the same upon the submission of proof of payment.
8. Agreement. Awardees must agree to the terms and conditions of the FLP Esmel Fellowship Program, including but not limited to, providing volunteer services to FLP, helping develop and improve the FLP Esmel Fellowship Program and mentoring other business school students and/or aspiring entrepreneurs. Awardees must likewise agree to enter into a formal commitment agreement with FLP and the pertinent academic institution.
9. Deadline. Applications for the academic year 2021-2022 must be submitted on or before 5 p.m. of June 15, 2022.
10. Revisions. FLP reserves the right to update and revise the guidelines of the program which shall be announced in its official website.
13. Financial Commitment. The fellowship is subject to FLP’s receipt of funding from its donors and partners. FLP, its trustees, officers, and staff shall not be liable if such donors and partners fail to provide the funds for the monetary award or revoke such funding.
For further information:
Email to: email@example.com
Call: (632) 8553-1102
Address: FLP Head Office, 3rd Floor, PCCI Corporate Centre, 118 L.P. Leviste Street, Salcedo Village, Makati City