IdeaSpace announces Top 20 Startups Finalists
Finallly, Philippine-based IdeaSpace Foundation,Inc or IdeaSpace has released the second batch of top 20 startups that will be vying in the semi-finals for at least P1 million worth of seed funding, training and services in its 2014 National Startup Competition.
IdeaSpace is the country’s biggest technology incubator and accelerator of the First Pacific Group of Companies for emerging markets.
Here below are the 20 semi-finalists, chosen from among over 600 entries after three rounds of judging…
- BlueLemons (Cavite) – A Filipino theme mobile gaming studio
- BusFinder (Cagayan de Oro) – A GPS-powered real-time tracking system that minimizes commuting time
- CholesteLOW (Davao) – natural anti-cholesterol Rice that lowers blood cholesterol to keep the heart healthy
- iHarvest (Las Pinas) – the next generation paddy grain dryer powered by solar energy
- iTravelPH (Batangas) – A GPS-based mobile solution that provides transit routes for smart traveling and commuting
- FlipTrip.ph (Taguig) – Online Philippine travel platform for itinerary customization and booking
- MyChild – An Online and Mobile platform for parents and schools to work together to make a child succeed
- Nyfti (Manila) – A 3-fold bicycle that you can take anywhere
- R-TAP (Quezon City) – Real-time pump controller for efficient water distribution
- SALt – Sustainable alternative lighting solutions powered by water and table-salt
- SmartFleet (Makati/ Caloocan/ Paranaque) – Technology platform enabling transport fleets with operations automation, booking, and analytics solutions
- SupplyHub (Makati/ Muntinlupa/ Quezon City) – online business-to-business platform that connects buyers with suppliers nationwide
- Tactiles (Laguna) – hardware kit for basic electronics education
- Tambio (Manila/ Quezon City) – All raffles in one app
- Taxinoy (Makati) – Taxi Booking App with Zero Data Charges
- ToGocery (Muntinlupa/ Quezon City) – an intuitive mobile solution for a quicker and simpler grocery shopping.
- Unlock & Load (Makati) – mobile advertising platform
- WattSmart (Pasig/ Quezon City) – online energy audit solution to help monitor electricity use in real time
- Wheelcare (Taguig/ Caloocan) – wheelchair designed to prevent pressure sores using eye sensors
- Zander (Pasig/ Paranaque/ Laguna) – A robotic fishpond monitoring and regulating system that eliminates fish kills
These twenty startups will get an initial grant worth P100,000 including PhP50,000 outright cash grant to work on their minimum viable product with a six-week incubation program. Here they will be taught how to go into business and improve their skills on entreneurship, marketing and team dynamics building.
“We’ve received a very diverse pool of startup ideas this year, and the ones that emerged in the top twenty are a clear reflection of that. These ideas came from all four corners of the Philippines, and we’re glad to know that the thirst for innovation is alive and well all over the country,” said Earl Martin Valencia, President and Co-Founder of IdeaSpace who is also the head for corporate strategy and innovation at Smart Communications, Inc. (Smart).
At the incubation period, the 20 startups will undergo intensive mentoring and weekly checkpoint sessions to help them establish their tech startups. Some industry experts and startup founders who will act as resource persons and mentors are Orlando B. Vea, cofounder and chief wireless advisor of Smart, Maria Ressa of Rappler and RJ David, cofounder of Sulit.com.ph (now OLX Philippines). They willl share their insights during the first face-to-face bootcamp for the finalists.
Valencia continues, “This refined process will help ensure that startups and their ideas respond to existing needs of their respective customers, which will then increase their potential for success once they graduate from the program”.
Right after incubation, the teams will present their prototypes and business modelsl before a high-level board of judges, including executives from the First Pacific Group of Companies led by business executive Manuel V. Pangilinan. The judges will decide on the ten start-ups who will then be chosen for the next phase of the program.
At the acceleration phase, these ten startups will receive a combined funding and services valued at P1 million worth which includes lean startup business methodology, marketing and financial consulting, intellectual property consulting and incorporation and business registration costs, among others. They will also be provided with Office space and housing for non-Manila residents.
The startups which successfully complete the acceleration program based on business metrics will be further eligible to avail of additional follow through funding worth up to PhP5 million.
With half a billion pesos funding over 5 years and support from industry leaders, IdeaSpace is now the largest private-sector commitment for technology entrepreneurship in the Philippines. For more about IdeaSpace, visit www.ideaspacefoundation.org