IdeaSpace, a founder-focused non-profit running startup support programs, is encouraging technopreneurs from different industries to send their applications to be part of its 2021 acceleration program. Now in its ninth year, the IdeaSpace acceleration program aims to attract tech and tech-enabled startups focusing on sectors creating new essentials for individuals, communities, and organizations.
Since its inception in 2012, graduates of the IdeaSpace acceleration program have generated over Php330 million in gross revenue in 2019, raised over Php110 million in funding, and employed nearly 500 people, working with notable startups such as ASEAN Rice Bowl Award winner Taxumo, Gojek Xcelerate 2019 & SoGal San Francisco 2020 Global Pitch winner 1Export, and Seedstars Manila Competition 2020 winner MedHyve.
“The past year has shown how digitization can create future shock in organizations, industries, and communities,” shared IdeaSpace President Butch Meily. “The upcoming IdeaSpace acceleration program aims to work with startups with products and services serving the needs of communities catching up to digitization and digital transformation.”
For this year’s cohort, IdeaSpace is looking for startups engaged in the following areas: healthcare, wellbeing, and wellness; edtech; e-commerce and logistics; e-sports, digital media, and entertainment; B2B, HR, and workplace tech; agritech, and foodtech.
The 20 teams that will be selected will receive a mobilization fund for their businesses and participate in a six-month accelerator program, consisting of mentorship with IdeaSpace alumni and industry experts, as well as access to learning sessions, workshops, and other educational resources with partners such as Google for Startups. The most promising teams will get the opportunity to secure an investment of at least Php1 million from IdeaSpace’s Opportunity Fund.
Recently, IdeaSpace invested P1 million each in three startups from the 2020 cohort ― agritech startup Agro-Digital PH, circular living and sustainability startup Humble, and workplace tech startup Workbean. After graduating from the program, Agro-Digital is looking to expand to support cooperatives and farmers in Region I, III, and IV, Humble is preparing for their public launch to inspire more people to live sustainably, and Workbean is looking to onboard more organizations to become Southeast Asia’s largest directory of company cultures.
“The past year has demonstrated the urgent need for digitization and adoption of technology and it is critical for the Philippines to support our homegrown technopreneurs to remain competitive, create new jobs and deliver value to communities, industries, and society.” shared IdeaSpace Executive Director Katrina Chan. “Our program seeks to accelerate the growth of locally founded tech ventures not only by providing tools and resources but also by creating an environment conducive for Filipino tech startups to thrive and develop into sustainable businesses.”
IdeaSpace will be conducting a 100% virtual acceleration program for the year. The startup support organization hopes to attract teams from outside Metro Manila to support technopreneurs and founders from across the country.
Interested applicants can visit the IdeaSpace website at ideaspacefoundation.org to learn more about the application process, criteria, and timelines. The deadline for applications is on Feb. 28, 2021.