Mar

30

IDEASPACE Foundation, Inc., the Philippine-based business incubator, announced the finalists for its national search for the country’s top tech business ideas.

The 20 finalists will vie for 10 slots to receive mentoring, support, services and grants from IdeaSpace partners and potential market runway to scale up their business to millions of households and subscribers.

The Cebu finalists are Lost Meets Found, an online solution for lost and found objects; miCab, a smartphone solution for getting a cab with or without mobile Internet; Nambal.com, an online healthcare system; SafeCab, a system to provide feedback for commuters riding cabs; and Tudlo, a guide system for disasters and emergencies.

“The diversity of both the ideas and geographic locations prove to us that there are a great number of innovations in the Philippines. Through our national competition, we hope that we are indeed helping level the startup playing field for these very early stage technology business ideas.”

— Earl Martin Valencia, IdeaSpace president.

The finalists bested almost 700 entries from all over the Philippines, a record number for a local startup competition. This will make the acceptance ratio at IdeaSpace at 1.45 percent, comparable to global incubation and accelerator programs.

Based on location, the twenty finalists reflect the growing public interest in the science and technology space and the incubator’s wide reach for its technopreneurship advocacy program.

Majority of the finalists are mobile and software solutions for various industries such as energy, agriculture, transportation and healthcare.

IdeaSpace was launched in March 2012 and after doing a national road show, it kicked off its competition in late August. Submissions closed in early January.  A non-profit foundation, IdeaSpace is supported by the following companies: First Pacific, First Pacific Leadership Academy, Metro Pacific Investments Corp.(MPIC), Metro Pacific Tollways Corp., MPIC hospital group, Philippine Long Distance Telephone Company, Meralco, Smart Communications, Inc., Digitel, Sun Cellular, SPI Global, ePLDT, Indofood, Philex Mining, Maynilad, MediaQuest, and TV5.

The initiative is the largest private sector commitment for technology entrepreneurship in the Philippines. Currently, IdeaSpace is incubating three start-ups supported by Smart, the country’s leading wireless services provider.

 

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Source: 
5 Cebu start-ups among IdeaSpace finalists.
SunStar. 25 March 2013. Retrieved 27 March 2013.
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