Philippines: IdeaSpace awards top 10 startups from 2016 acceleration program

The top 10 winners of the IdeaSpace 2016 acceleration program (visual from IdeaSpace Facebook page).

Philippine-based tech startup incubator and accelerator IdeaSpace Foundation has awarded over the weekend the top 10 teams from its 2016 startup acceleration competition.

All 10 startups received startup grants and benefits of over $21,400 (P1 million) including around a five-month acceleration program. The acceleration phase will begin on August 1, 2016.

The winning teams were Populi, Tarkie, Banyera, Investagrams, InvestEd, Taxumo, EARS, Tralulu, Cropital, and Cleaning Lady.

Among the notable teams, Tralulu is a web and mobile application that connects tourists to local guides to co-create local authentic travel experience; Tarkie is the employee expense management system with location-tagging and audit trails designed for your field employee; Taxumo is a mobile & web app that helps one reduce time spent working on business taxes; Investigrams is a portal that connects one to other investors, traders or analysts; and Cropital is a crowdfunding platform that connects anyone to help finance farmers.

Also read: PH: IdeaSpace opts for equity-free funding, opens 2016 startup contest

IdeaSpace stressed that it would not take any equity in the startups that have emerged as winners from its programme.

The foundation’s executive director Diane Eustaquio had recently announced the removal of the 20 per cent equity in startups that undergo the IdeaSpace incubation and acceleration process in order to further help founders in pursuing their ideas.

Founded in 2012, IdeaSpace is focused on science and technology startups that solve emerging market issues in Southeast Asia.

Also read: Malaysia’s VC firm 1337 Ventures awards 3 new PH startups

IdeaSpace began with a P500 million fund from the MVP Group of companies to conduct a five-year commitment towards growing the local startup ecosystem. PLDT, Metro Pacific Investments Corp (MPIC), Smart Communications Inc (Smart), and Manila Electric Co (Meralco) are among the big names in the MVP Group.

Eustaquio recently said IdeaSpace funding will still be the same until 2017, afterwards it will be on its own, and self-sustaining.

For the past four years, IdeaSpace has helped incubate about 38 startups and several are now active in the market.

Also Read:

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SkyEye tops Impact Hub Manila, LBC Express mobility challenge

Spring.ph breaks 50 software startups target, adds 7 new firms to LaunchPad

Philippines gets new startup incubator to promote inclusive innovation

New tech startups hub ‘La French Tech Philippines’ launched

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.

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.