IdeaSpace Foundation has concluded the third season of its annual startup competition that discovers, incubates, and accelerates the country’s most innovative and game-changing ideas. Ten finalist groups were announced during the culmination night, each of which received PHP 500,000 in seed funding, and PHP 500,000 worth of business management classes, marketing and financial consulting, intellectual property consulting and incorporation, office space, and business registration costs, among others.
Earl Martin Valencia, president and co-founder of IdeaSpace, comments that each startup nurtured by the organization will help push the Philippines towards the forefront of the world’s best digital economies. Currently, the country is classified as a “break-out” nation by the recent global Digital Evolution Index study conducted by the US-based Fletcher School at Tufts University.
“Today we’re part of the ‘break-out’ nations, but we need to keep the momentum going by taking significant steps toward elevating the digital readiness of each Filipino through various innovations with impact. That has been one of the cornerstones of IdeaSpace from the beginning, and we’re glad that more Filipinos are now adopting a mindset toward technopreneurship,” Valencia noted.
The top 10 startups of 2015 were selected from a record-breaking 1,028 applications coming from every region in the country and from 15 countries around the world.
“We’re glad that innovation and technopreneurship have taken a stronghold not just in the major urban areas of the county, but even in far-flung areas in the region. The participation of every Filipino all over the country is critical in developing a strong digital economy for the Philippines,” added Marthyn Cuan, IdeaSpace co-founder.
To date, IdeaSpace has invested in 19 local startups through its annual competition, as well as nine startups outside the program. The organization is more than halfway through its PHP 500-million five-year commitment towards developing the local startup and technopreneur scene.
Below are the winners of this year’s competition.
Heat Stress Analyzer
An electronic device, which protects crops against irreversible effects of heat stress and provides data analysis for an improved next harvest.
A LoRa based transponder device similar to ADS-B and AIS but is intended mainly for general aviation aircrafts, fishing vessels, and small boats.
A smart scheduling system for battery swapping powered by IoT that enables two e-trikes to share with three battery packs instead of four.
An e-learning content developer and provider that enables blended-learning classes to boost competency.
A flexible stainless steel strap that enables water utility companies to connect their customers’ piping system to the main water supply at faster service levels, lowered inventory costs, and maximized storage space.
A one-stop-shop customer analytics solution for the brick and mortar store that provides on-demand statistics and analytical tools for business growth and optimization purposes.
A system that generates electricity from the water consumption of buildings.
A safety product that is comprised of day-to-day accessories which enable users to trigger an application that will inform their loved ones via SMS that they are in an emergency situation.
An online application that enables partnerships between brands and events helping the former in maximizing ROI from sponsorship spending, and the latter in finding brands that perfectly fit their event execution goals.
Builds educational apps that promote early literacy and love for Filipino cuture.