Aspiring applicants and technopreneurs can send in their applications starting September 1 until January 7 next year. Ten tech-based ideas will be chosen and receive funding and support of up to PhP2M for the first phase and up to PhP5M additional capital after six months into the program. The mechanics of the contest can be found on IdeaSpace’s site.
“We’re excited to see what kind of game changing ideas we will get from this competition. We have been going the rounds all over the country through our bootcamps and there are so many promising tech ideas and entrepreneurs around. It’s time to help make these ideas into commercial realities.” said Earl Martin S. Valencia, IdeaSpace president.
Valencia, an engineer and Stanford MBA graduate, recently moved back from Silicon Valley to help start IdeaSpace with co-founder Marthyn Cuan, Vice President of IdeaSpace and Chief Information Officer of Meralco.
At its core, IdeaSpace is a program that seeks to help budding tech startups develop innovative solutions and to transform them into successful commercial endeavors. Valencia mentioned that we need to “move away from mere users of technology” to create homegrown Filipino tech success stories. This contest looks like a great way to energize the fractured tech startup community in the Philippines to create our own Silicon Valley story.
IdeaSpace is run by the IdeaSpace Foundation Inc., a non-profit organization comprised of many industry leaders under the MVP group of companies including First Pacific, Metro Pacific Investments Corporation (MPIC), Metro Pacific Tollways Corporation, MPIC hospital group, Philippine Long Distance Telephone Company (PLDT), Meralco, Smart Communications, Inc (Smart), Digitel, Sun Cellular, SPI Global, ePLDT, Indofood, Philex Mining, Maynilad, MediaQuest, and TV5.
For the complete mechanics and more information, visit ideaspace.ph. Follow them at twitter,@IdeaSpacePh and like them at Facebook/ IdeaSpacePh.