In the Philippines, the Cebu Business Incubator for IT, a technology business incubator is currently serving six start-up companies since its start of operations last month.

Located at the University of the Philippines (UP) Cebu campus, the Cebu Business Incubator for IT trains six company owners to refine their business plans and concepts.

Those who are developing technological innovations but have no background in business can try the Cebu Business Incubator for IT, operated by UP and the Department of Science and Technology.

Start-ups can refine their business concepts with workshops and assignments and offer mentorship with the help of a business incubator, thereby increaseing the chances of success.

Most people in IT are not exposed to a business background. The incubator offers office space (office cubicles and a pantry and meeting room) below market rates and professional services likeĀ  finance and accountanting, legal counsel and marketing. The Business Incubator can help get access to funds.

The pre-incubation program allows screened start-ups to occupy a cubicle and avail of the subsidized services for three to six months, provided their business concepts are approved and they comply with requirements.

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