Tech startup incubator IdeaSpace Foundation is scheduled to nurture 23 new startups that made it through the incubation round of the IdeaSpace 2015 Technology Startup Competition in the Philippines.
The 23 teams that advanced to the competition’s semi-finals won three rounds of rigorous review and judging from the 1,028 early-stage startup ideas pitched for this year’s IdeaSpace competition.
IdeaSpace noted that for the first time, two of the winning teams that made it in the incubation stage have founders overseas, specifically from Australia and India. It considered this as “a testament to the growing relevance of the Philippines as an innovation hub in the region.”
The startups ideas that were pitched in the contest included varied mix of hardware and software solutions addressing key challenges in a range of industries.
Nine of the top 23 startups were hardware-based while the 14 software-based ones address needs in the field of gaming, tourism, finance, e-commerce, education, media, enterprise, and mobile technology, among others.
Now in the semi-final round, the 23 startups will undergo a six-week incubation period to work on their minimum viable product or prototypes, with each receiving a P50,000 instant grant.
The groups will narrow down to top 10 in the next phase, which is acceleration phase, where each startup will get P500,000 in seed funding alone, to work an intensive 18-week program that will help each startup develop their products, set up their corporation and business permits, and conduct market validation, among others.
In addition to the cash grant, the startups will get a separate grant worth at least P500,000 inclusive of business management classes, marketing and financial consulting, intellectual property consulting and incorporation, office space, and business registration costs.
Earl Martin Valencia, president and co-founder at IdeaSpace and head for corporate innovation and development at Smart Communications Inc (Smart), said the diverse ideas they received for this year’s competition speaks volumes about how the Philippines has become a center of innovation, with startups that could potentially penetrate the regional and even the global market.
“For over three years, we’ve seen innovative ideas from all over the country that have grown and matured to become full-fledged businesses, and we will continue on investing time and resources to discover such innovations that could push the Philippines forward,” Valencia said.
Also read: IdeaSpace grows portfolio to 22 Cos in 2014
The top 23 teams in the IdeaSpace 2015 Technology Startup Competition, are:
iHarvest (Manila) – Solar powered humidifier-dryer for high value crops
FARMBOOK (Soil Analyzer System) (Cagayan de Oro) – A system that helps farmers provide easier pH monitoring and limestone/sulfur calculation using MCU-GSM technology and a mobile application respectively.
FAME – Aviation and Maritime Real-time Tracking (Mandaluyong) – Real-time tracking of general aviation aircraft and small ships and boats with accuracy similar to ADS-B and AIS using LORA.
FlexStrap (Makati) – A flexible stainless steel strap that can fit a range of pipe diameters in any material for water service connections.
Stream Energy: More Water, More Power (Quezon City) – A system that enables building establishments to generate hydro-electricity from their existing water consumption.
Agena (Pasay City) – Innovations on medical equipment that promotes ergonomic and ecological awareness through creative product design, with an ergonomic bed pan as its first product.
GoCharge E-Trike Charging Platform (Batangas) – Charger system allowing electric tricycles to eliminate their short driving range disability using a queued charging management system.
Heat Stress Analyzer with Cloud Based Android Application (Davao) – Protects agricultural crops from irreversible effects of heat stress and analyzes the results for an improved next harvest
Saffron Technologies (Safety, Fashion and Protection) (Pasig City) – Innovation that promotes commuter safety using a mixture of cutting-edge technology and day-to-day fashion.
Halina’t Bumasa (Laguna) – A game development team that aims to improve preschool education in the Philippines.
SigLaro (Games for Health) (Quezon City) – A game studio that focuses on developing games about health promotion and health education.
HIstoryA/Heritage Information Adventure App (Makati) – A mobile app allowing techie-travelers to access visual content through their mobile phone on a Philippine cultural or heritage site.
PassForward (Makati) – An e-service solution for mass transportation systems.
Places on Demand (Davao) – An online concierge system for condominiums, apartments and places to stay.
TASKminator (Mandaluyong) – An online and mobile platform for crowdsourcing everyday household errands to skilled, reliable and credible individuals near your area.
Rxpress Solutions (Makati and India) – A suite of solutions that help patients reduce their medical cost up to 20 per cent and improve doctors’ practice management
Squala (Taguig) – A startup that aims to be the information technology arm of Philippine educational institutions.
MATHIZEN: A Math Review and Achiever Site (Tacloban City) – An online math review site for K1 to 12 students and an achievers site for outstanding members.
UberLessons (Las Pinas) – Copyright free K12 Math, English, Science, AP and Filipino interactive on lessons and learning management system for public schools.
Sponsolab (Caloocan) – An online platform where sponsors and event planners discover, search and connect for partnerships.
Consumer Behavior Analytics (Quezon City) – Automated video-analysis-based solutions for collecting consumer behavior data to improve business decision-making and facilitate better market research.
Gio (Geolocation in and out) (Caloocan) – Real-time geolocation employee and asset tracking system.
Dextr Alphabetic Keyboard (Australia, Philippines, and India) – A faster, simpler, smarter and radically improved GUI for touchscreen keyboards that makes texting as easy as ABC.