SUMMARY
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MANILA, Philippines – Manila based incubator and accelerator IdeaSpace has selected ten tech startups in its yearly competition for early-stage funding worth at least P1-million each consisting of seed investment, training and services.
The ten winners of the Ideaspace 2014 tech startup contest are:
BluLemons (Dasmarinas, Cavite) – A Filipino-themed mobile gaming studio
FlipTrip.ph (Taguig) – Online Philippine travel platform for itinerary customization and booking
MyChild (Quezon City) – 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 (Lipa City) – Sustainable alternative lighting solutions powered by water and table-salt
Tactiles (Laguna) – Hardware kit for basic electronics education
Tambio (Manila/ Quezon City) – All raffles in one app
SmartFleet (Makati/ Caloocan/ Paranaque) – Technology platform enabling transport fleets with operations automation, booking, and analytics solutions
WattSmart (Pasig/ Quezon City) – Online energy audit solution to help monitor electricity use in real time
“This year’s winners represent a wide variety of tech solutions for emerging markets. The potential is not just local but global and IdeaSpace is here to support these young innovators who took the risk and accepted the challenge,” said Manuel V. Pangilinan, IdeaSpace Chairman.
Aside from the funding and business support, the winners will also be provided with office space in Makati City as well as housing for non-Manila residents. IdeaSpace will also link these startups to companies supporting the foundation for market runway. 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.
This is the second year that IdeaSpace is awarding innovative tech startups under its incubation and accelerator program. Last year’s batch of ten included up-and-coming startups such as bus reservation app Pinoy Travel, enterprise queuing solution Time Free, knee implants for Asian market company Arthrologic, job site for creatives PortfolioMNL and consumer rewards platform MobKard. A total of 24 startups are now currently being supported by IdeaSpace, including winners from last year and this year and those who received support outside the yearly startup competition.
The winners are from the seventeen finalists that bested more than 600 entries, three rounds of rigorous judging and a two-month intensive incubation program where they received an initial grant worth P100,000 including PhP50,000 outright cash grant to work on their minimum viable product. During this period, they were also mentored and trained to hone their entrepreneurial skills on top of getting assistance for business incorporation and intellectual property filing support. – Rappler.com
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