Technology incubator and accelerator IdeaSpace Foundation, has recently launched its National Startup Competition which is open to innovative technology startup ideas for 2017, last December 6 at the Philippine Trade and Training Center. As this is the 5th iteration of IdeaSpace’s competition, the foundation has increased the number of finalists to 15, compared to the usual 10 in the past years.
The 15 startup finalists will receive P500,000 of equity-free funding; along with support for transportation, incorporation, office space, communication software, and classes, all of which have a total value of around P1 million. Reaching the finals is difficult though, as from hundreds of applications, the startup teams will be narrowed down as they go through the incubation and acceleration program.
To get a better idea of what to expect for the competition, IdeaSpace held a short press conference, featuring participants from the past competition batches. They shared their insights and experiences, ranging from the difficulties in narrowing down their ideas, to the sense of urgency that the acceleration program brings to their teams. As for the future of IdeaSpace, they also outlined that they plan on strengthening the current program’s content, along with increase in partnerhips (both companies and potential investors)
For interested applicants, startup ideas can be submitted by logging on to apply.ideaspacefoundation.org. Deadline for submission of startup ideas is on January 12, 2017.
Batch 2016 Startups Demo Day
A Demo Day was then held for the seven startups who made the cut during this year’s competition. Here are the list of finalists:
Cleaning Lady – A social enterprise that provides professional cleaning services to condo-dwellers.
Cropital – An online crowdfunding platform which enables farmers to be connected to potential financers.
E. A. R. S. (by Innovable) – A wearable assistive safety device for the deaf and hard of hearing. The device alerts the wearer of any oncoming threat, and alerts loved ones in case of any emergency.
Investagrams – A website/app that provides information, education, and analytics for the stock market.
InvestEd – A crowdlending platform that makes higher education possible for deserving students, through connecting them with lenders.
Tarkie – A workforce management and productivity solution for companies to improve their field employees’ performance.
Taxumo – An end-to-end online tax assistance platform that automates computation, submission, and payment of taxes.