<article>The <a style="color: #000080;" href="http://www.spring.ph/" target="_blank">Software PRoducts Incubation Group (Spring.ph)</a> in the Philippines has chosen three new startups to join its LaunchPad program and expressed confidence that it will reach its target of 50 software product teams next year.</article>

The <a style="color: #000080;" href="http://www.spring.ph/" target="_blank">Software PRoducts Incubation Group (Spring.ph)</a> in the Philippines has chosen three new startups to join its LaunchPad program and expressed confidence that it will reach its target of 50 software product teams next year.
Spring.ph co-founder and director Arup Maity told <a style="color: #000080;" href="www.dealstreetasia.com">DEALSTREETASIA</a> that they now have a total of 40 startup teams.
&#8220;We are making good progress to hit 50 incubated companies with 10 considered successful,&#8221; Arup said, noting that the goal is for the 10 software product teams to make $1 million annual recurring revenue by 2016.
&#8220;It is still 18 months away and we are changing gears to make it happen,&#8221; Maity said, who is also the current president and CEO of Philippine-based tech company <a style="color: #000080;" href="http://www.blastasia.com">BlastAsia Inc</a>.
Also read: <a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/philippines-a-haven-for-startups-arup-maity-1289/">Philippines gives more time to startups: Arup Maity </a>
Founded in August 2011, Spring.ph is a community of software product startups in the Philippines, under the <a style="color: #000080;" href="http://psia.org.ph">Philippine Software Industry Association</a> or PSIA. The latter launched Softcon.ph in October 2013, the first ever software conference in the Philippines.
Karen Reyes, program manager of PSIA, said the three new startup teams selected to join Spring.ph&#8217;s LaunchPad program are <a href="http://klaseko.com" target="_blank">Klaseko</a>,<a href="http://www.spasyal.com/" target="_blank"> Spasyal</a>, and Parking Plus.
Klaseko is a platform that allows schools to accept enrollment, payment and perform eCommerce transactions from the web. Spasyal, meanwhile, is a property app that allow users to buy, sell, rent and list properties in the Philippines and Asia. Parking Plus is a cloud-based parking solution that is relatively low-cost and is fast and easy to deploy. The &#8220;parking terminal&#8221; is a POS connected to an automated lane barrier that controls the entry/exit of cars.
&#8220;These teams will need to do two important steps to make it on what the Spring.ph mentors call the &#8216;Investment Ready Start-up List&#8217; — a level in which teams are considered ready to have a serious discussion with investors,&#8221; Reyes said, noting the two steps are Deep Dive Session and the Monitoring Phase.
The deep dive session is a half-day meeting between mentor and team which should happen in the next 90 days. It includes a drill down discussion on BMC, MVP, validation, among others, to which teams will come back with a firm plan to present afterwards.
The Monitoring Phase, however, monitors progress after step one is done which includes continuous mentoring.
Reyes added the teams will also be invited to PSIA events and other networking opportunities.
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<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/kickstart-invests-in-20th-philippines-startup-cogito-5003/">Kickstart invests in Cogito, takes portfolio in PH to 20 startups</a>

The Software PRoducts Incubation Group (Spring.ph) in the Philippines has chosen three new startups to join its LaunchPad program and expressed confidence that it will reach its target of 50 software product teams next year.

Spring.ph adds 3 more startups to LaunchPad

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Spring.ph adds 3 more startups to LaunchPad

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