Ideaspace announces finalists for top Philippine tech startups, US$1.25M funding at stake
Ideaspace has announced its list of finalists from among early-stage startups for possible funding and incubating.
Technology startup incubator Ideaspace launched its search for the top Philippine startups in late 2012, and after sifting through more than 700 submissions, the team has narrowed down its choices to 20 startups. These include businesses, services and applications that span a variety of industries.
Read also: IdeaSpace launches national competition for tech startup incubation
Ideaspace Foundation Inc. is a startup incubator launched in March 2012 as a non-profit foundation, with the goal of providng early stage funding for aspiring technology entrepreneurs with potentially innovative or disruptive business ideas or startups with minimum viable products seeking additional boost to propel them to commercial launch level. Ideaspace has a PhP500 million (US$12.5 million) funding through the next five years.
Ten startups stand the chance of receiving a PhP5 million (US$ 125,000) each in funding, as well as mentoring, support, grants and services from partner companies. For this round, 20 startups have been selected as finalists, from among which 10 will be chosen:
AgriCultureTechnology (Metro Manila) – monitors growth of aquatic livestock
Armtech (Angeles City) – affordable water purification machine for households
CornerData (Metro Manila)– simplified data gathering for agriculture and disaster preparedness using electronic sensors
DateCola (Davao) – natural date enriched beverages
DepEd Smart Cloud (Angeles City) – enterprise solution for public school system
FindmyDok (Davao) – a solution for searching doctors
Lost Meets Found (Cebu) – an online solution for lost and found objects
miCab (Cebu) – smartphone solution for getting a cab with or without mobile Internet
Mirand (Metro Manila) – Lower cost and high quality total joint implants for the Asian market
Nambal.com (Cebu) – online healthcare system with portable features
PGRS (Metro Manila) – produces electricity via rumble strips on high traffic roads
PinoyTravel (Metro Manila) – provincial bus seat reservation using mobile technologies
PortfolioMNL (Metro Manila) – online marketplace for creative professionals
Prodigo (Manila) – a solution for targeted promotions and analytics
SafeCab (Cebu) – a solution that providing feedback for commuters riding cabs
Summarize and Notify (Leyte) – allows web searches, summarizes information and notifies users
Tech4Health (Metro Manila) – solution for health monitoring of chronic conditions including diabetes
TimeFree (Zamboanga) – SMS-based automated queuing system
Tudlo (Cebu) – a system that teaches, guides and points during a disaster and emergency situation
WeGen (Sorsogon) – new design of wind turbine that is more efficient than current technology
Bulk of the submissions were from Metro Manila, although there is adequate representation from the other regions in the Philippines. Also, many of the finalists are mobile-oriented, which is appropriate due to supporters’ presence and network in the mobile industry, including PLDT, Smart, Digitel and Sun Cellular, which are leading telecoms providers in the country.
“The diversity of both the ideas and geographic locations prove to us that there are a great number of innovations in the Philippines. Through our national competition, we hope that we are indeed helping level the startup playing field for these very early stage technology business ideas.” said Earl Martin Valencia, IdeaSpace president.
IdeaSpace is supported by the following companies: First Pacific, First Pacific Leadership Academy, Metro Pacific Investments Corporation (MPIC), Metro Pacific Tollways Corporation (MPTC), MPIC hospital group, Philippine Long Distance Telephone Company (PLDT), Meralco, Smart Communications, Inc (Smart), Digitel, Sun Cellular, SPI Global, ePLDT, Indofood, Philex Mining, Maynilad, MediaQuest, and TV5.
Ideaspace will hold its finals and awarding at the First Pacific Leadership Academy on April 5, 2013.
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