Filipino Reese Fernandez and four others were bestowed the 2010 Rolex Awards for Enterprise: Young Laureates Program.
The 25-year-old social entrepreneur and co-founder of the Rags2Risches enterprise was awarded for assisting women who recycle scrap materials into rugs for sale in Payatas, said the Philippine embassy in Switzerland.
Other laureates were from Ethiopia, India, Nigeria, and the United States.
The elegant ceremony was held at the Rolex Learning Center in Lausanne last week.
Each of the young laureates received $50,000 for their project, a Rolex chronometer, and will benefit from an international publicity campaign.
The winners were selected based on the feasibility of projects, originality, sustainability, and entrepreneurial spirit.
Fernandez was commended by Amb. Maria Theresa P. Lazaro for her commitment to change the lives of Filipino women and their families by providing job opportunities and earn decently.
At an early age, the Ateneo de Manila University graduate learned that the best way to improve children's lives is to support their mothers.
Her Rags2Riches business creates colorful handbags, wine bottle holders, eyeglasses cases and yoga mat carriers.
Congratulations to all the winners. Click here for more details.