IdeaSpace announces $22,000 seed fund award

By Tomas S. Noda III

October 22, 2014

Philippine startup incubator and accelerator IdeaSpace Foundation is giving startups in the region, an opportunity to compete for P1 million ($22,000) seed funding award.

This award is part of the 2015 tech entrepreneurship tilt, an IdeaSpace initiative, which is in its third year.

With $11 million funding over five years,  this initiative has been one of  the largest private sector commitment for technology entrepreneurship in the Philippines.

Apart from the awarding the seed funding, IdeaSpace also provides legal consulting, mentorship opportunities, office space, and market runway to the winner.

According to IdeaSpace President and Co-founder, Earl Martin Valencia, the third tech startup contest will serve as a venue for founders in the Philippines to bring their technology ideas to reality and contribute to the emerging startup system in the Philippines.

Each startup that successfully enters the acceleration phase, third round, will get P500,000 ($11,100) in seed funding, plus a  separate grant worth at least another P500,000.

The non- profit foundation has already helped nurture and establish businesses like PinoyTravel, an online travel booking system for provincial buses and ferries; TimeFree Innovations, a virtual queuing system that uses SMS for notifications; and SALt, an ecologically designed lamp powered by tap water and table salt etc.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW