In two separate developments in the Philippine startup space, fintech company Qwikwire has won the Ignite PH competition, while eight local startups have been selected to compete for the Seedstars Manila 2017.
Qwikwire wins Ignite PH
More than 100 startups applied for the contest that had 20 pre-finalists and 10 finalists. The panel of judges include venture capital firms 500 Startups, Spiral Ventures (formerly IMJ Investment Partners), CyberAgent Ventures, Kickstart Ventures Inc, and Fenox Venture Capital. Other judges were from Dentsu X Philippines, and GNB Accelerator.
Qwikwire was awarded a cash prize of $5,000 (P252,000). The startup was founded in October 2013 by Ray Refundo, who presented the company’s abilities in empowering real estate developers, banks, BPOs, and billing services with its customized payments processing solutions.
The nine other startup finalists were Cropital, Fetch, OneWatt, Regalado, Seiza Digital, Senti, Serve Happy, Stash, and uHoo.
Qwikwire had previously been crowned the Fintech Startup of the Year at the Rice Bowl ASEAN Startup Awards held in Kuala Lumpur in November 2015.
Seedstars picks top 8 for Manila finals
Global seed-stage startup competition for emerging markets Seedstars World has chosen its top eight local startups in Manila that will compete to represent the country at the global summit in Switzerland in April 2018.
The teams are scheduled to pitch in front of a jury of investors and successful entrepreneurs on July 8 and will compete to be crowned the most promising seed-stage startup of Seedstars Manila 2017.
The winner will participate at the Seedstars Asia Regional Summit and attend a three-day bootcamp with international mentors and investors in Switzerland. The team also stands a chance to win up to $1 million in equity investment at the annual Seedstars Summit.
The competing teams are Cropital, BeamAndGo, Fetch, ServeHappy Jobs, Harayalabs, Stash RetailGate, and Senti.
Two Philippine-based startups Salarium and Acudeen Technologies became Seedstars Global Winners in 2015 and 2017, respectively, each winning $500,000 worth of investments. Salarium is engaged in payroll and HR software, while Acudeen is into receivable financing among SMEs.