The seven startups that presented at the event include 1Export, a platform helping SMEs export into global markets, AppSell, an e-catalogue and marketing app that helps Direct Sellers Sell More, CreatorsPub a platform connecting brands worldwide to the creative Filipino, EcFulfill, a business solution that links Filipino brands to the global stage, Impactville, an end to end platform that optimizes the social returns of organizations, Wizher, a software for routers that makes accessing and controlling wifi easier, and Zestaly, which is an online resume builder that helps students and fresh graduates gain experience through their internship to employment program.
“As always, after every batch, I say that the jury is still out there and the journey just keeps getting tougher. The IdeaSpace program has helped them with tools, insights, connections, etc. but the greatest challenge when the going gets tough is themselves. We will still be with them since we continue to support them with micro-grants and all sorts of support on top of remaining to be their constant cheerleader, but when their well of determination runs out, no amount of money can get them out of their throes,” said Diane Eustaquio, executive director. “We keep on improving our alumni support packages to help them keep on going.”
Based on a 2017 study conducted by PwC and QBO, 88% of the startup founders who responded said that their primary challenge to startup is access to funding. But despite this, startups are working harder to find sources of funding mainly through grants and competition prize money from different host organizations.
After the acceleration program, these startups can avail of follow-on funding from IdeaSpace. We have the IdeaSpace Opportunity Fund which was established from a genuine desire to help startups bridge their company’s financial gaps that hinder the activity of scale.
“I continue to be optimistic about the future of Philippine startups. With the increased number of entities addressing the funding gaps that startups face, they are assured that these great ideas will have the support neede IdeaSpace’s Opportunity Fund gives us new avenues to be part of this future.” said Rene Meily, IdeaSpace President.
“I continue to be optimistic about the future of Philippine startups. IdeaSpace’s Opportunity Fund gives us new avenues to be part of this future.” said Rene Meily, IdeaSpace President.
Founded in 2012, IdeaSpace has supported 74 startups, deployed over 100 million pesos worth of cash and non-cash support, and has developed programs to help build the startup ecosystem in the Philippines. [END]