MANILA, Philippines - The Department of Trade and Industry (DTI) and PhilDev Foundation officially announced on Tuesday, 15 February 2022, the 26 startups that will be receiving support through the IDEA and ADVanCE programs.
Launched in January, the Incubation, Development, and Entrepreneurial Assistance (IDEA) Incubationand the Accelerating Development, Valuation, and Corporate Entrepreneurship (ADVanCE) programs aim to provide customized support to tech startups in the Philippines to help them become market and investment-ready.
DTI Undersecretary Rafaelita Aldaba in her opening remarks, said that, “We put startups at the forefront of innovation- and S&T-based policies and with technology entrepreneurship at the core, the IDEA and ADVANCE programs can support the growth and development of startups, increase their access to trainings, market expansion activities, and funding opportunities. Through these programs, early- and growth-stage startups will receive customized incubation and acceleration assistance to enable them to grow and scale-up.”
After screening more than 60 applications from startups across the country, 26 will be moving forward to receive full incubation and acceleration support from the two programs.
Twenty early-stage startups from various sectors will be joining the first cohort of the IDEA Incubation Program. The cohort will be participating in workshops, receiving legal and financial management support services, and mentorship from world-class experts and entrepreneurs from the combined network of PhilDev and DTI.
The ADVanCE Acceleration Program, on the other hand, will be helping advance six growth-stage startups with solutions aligned with the Philippine Development Plan’s strategic priorities. In addition to workshops, masterclasses, and tailored mentorship support, the ADVanCE cohort will also be receiving legal and financial management assistance, public relations and marketing support and investor linkages.
In his message during the onboarding, PhilDev Foundation Founder and Co-Chairman Dado Banatao congratulated and welcomed the startups. Dado also expressed his support and gratitude to DTI for the partnership.
“Supporting startups in the last 10 years of PhilDev, shows how we can harness technology and innovation, and turn these into scalable businesses that can empower Filipinos to get themselves out of poverty.
We are grateful to be co-implementing [the IDEA and ADVanCE] programs alongside the DTI. With the combined expertise and experience of both organizations in business, industry, innovation, and entrepreneurship, we look forward to a thriving startup ecosystem in the Philippines,” Dado highlighted.
The IDEA and ADVanCE programs will run until June 2022. To learn more about the programs and the startup cohorts, visit the PhilDev website at www.phildev.org.
For more information and future collaborations, contact PhilDev at info@phildev.org.
For more information, please contact:
Adriel Nisperos, Communications Officer, PhilDev Foundation
adriel@phildev.org
About PhilDev Foundation
The Philippine Development Foundation (PhilDev) is an independent, non-profit organization that aims to eradicate poverty in the Philippines through its three (3) pillars: education, innovation, and entrepreneurship. PhilDev brings together government organizations, the academe, private industry, and the community in harnessing science and technology for sustainable and inclusive economic growth in the Philippines.
Website: www.phildev.org
Facebook: PhilDev Foundation
Instagram: @phildev_org
About DTI – Competitiveness and Innovation Group
The DTI-CIG oversees the DTI’s initiatives in preparing industries for the Fourth Industrial Revolution and digital transformation, establishing
DTI, QBO Innovation Hub launch Global AQELERATION Program to support tech startups’ market expansion activities in Southeast Asia
MANILA, PHILIPPINES, February 16, 2022–The Department of Trade and Industry (DTI) and QBO Innovation Hub (QBO) have launched a market expansion program aimed at Filipino startups looking to pursue business opportunities in Southeast Asia
The DTI Global AQELERATION Program (GAP) is an acceleration and soft landing program that will help mature Filipino startups enter Southeast Asian markets and support various needs such as business development, fundraising, and other strategic opportunities.
“Over the past two years, we have seen Filipino startups grow and expand, and it is high time that they receive support as they expand their business to new markets,” shared DTI Undersecretary Rafaelita Aldaba. “Our homegrown startups have the potential to be future unicorns and tech leaders, and the DTI GAP will enable these startups to reach new markets and customers and fulfill their potential.”
The program is composed of two phases: a 12-session acceleration phase which would help startups develop a feasible market expansion plan and strategy through a series of learning sessions; and a 3-month post-acceleration phase which will focus on its execution. Out of the startups participating in the acceleration phase, only ten will be selected to move forward with the post-acceleratio
This program will be implemented in partnership with international accelerators and trade missions in ASEAN.
The startups that will be onboarded for this program include Prosperna, Mosaic Solutions, Senti AI, Plentina, ChatGenie, Agro-Digital PH, Frontlearners, Wela School Systems, Steer by Quick Reach, Race Ya, MedCheck, OMG! (Oh My Genie!), Automart.ph, Dealogikal Corp., Ask Lex PH Academy, and FHMoms, Inc.
“We have entered a new phase in the ecosystem where more Filipino startups are not only seeing larger investments but are also ready and looking to venture outside of the country to pursue growth. This program will help our startups gain a foothold in the rest of Southeast Asia, and eventually even expand to Europe, North America, and the rest of the world,” said IdeaSpace Foundation and QBO Innovation Hub Executive Director Katrina Rausa Chan.
“As the ecosystem matures, so should the level of support, and we’re glad to be working with DTI to pave a path for Filipino startups to become regional and global giants.”
The DTI-GAP will run until June 2022. To learn more about the program and the startups, visit the DTI-CIG Facebook page at www.facebook.com/DTI.CIG.
No comments:
Post a Comment