10newstartupsjoin4thcohortforacceleration

IdeaSpaceannounces2016batchofstartups
toreceiveequityfreefunding

IdeaSpacepresentstennewstartupsaspartofits2016cohortthatwilljointheaccelerationphase.Inphoto
(fromleft)arestartupfoundersAndrewCua(Tralulu)
,RioIlao(Tarkie),RuelAmparo(Cropital),OskieKing
(CleaningLady),andJCBisnar(Investagrams).TheyarejoinedbyIdeaSpaceExecutiveDirectorDiane
Eustaquio(rightmost),whosharedhowdiversethestartupteamsareforthisyear'scompetition.

[20JULY2016]IdeaSpaceFoundation(IdeaSpace),theleadingearlystagetechnology
incubatorandacceleratorinthePhilippines,recentlyannouncedtennewstartupsthatwilljoin
itsaccelerationprogramthisyearandreceiveequityfreefunding,mentorship,andahostof
otherprizes.

The10newIdeaSpacestartupsfor2016are:

Populi ananalyticsplatformthatutilizesbigdataforpoliticianstovisualizepublicpulse
inrealtimebyaggregatingsocialmediaandnewsengagementsonline.
Investagrams awebsite&appthatprovideeducation,analytictoolsandinformation,everything
youneedinthestockmarketfromstarttoprofits.
CleaningLady amobileappthatletsauser:specifyhis/hercleaningservicesneeds,hirea
cleaner,bookaschedule,getanupfrontservicequoteandgetthecleaning
done.
InvestED amicrofinancingplatformforstudentloans.

Banyera anonlinemarketplaceforwholesalefarmedfishproducts.
Tarkie afieldemployeetrackingandproductivitytool
Taxumo amobileandwebappthathelpsSME's,professionals,freelancers,and
corporationswiththeirtaxes.
E.A.R.S. awearabledeviceforthedeaf/hearingimpaired:anearlywarning,detection,
reactiondevicethatprotectsuserswhileoutdoorsfrom
accidents/collisions/threats.
Tralulu adigitalplatformthatconnectstravelersandlocalguidesbyallowingtravelersto
bookguidesandcustomizetheiritinerarieswiththem.
Cropital acrowdfundingplatformthatconnectsanyonetohelpfinanceourfarmers.

EachstartupwillreceiveP500,000inequityfreefunding,ontopofnoncashbenefitssuchas
housing,transportation,incorporation,officespace,communication,softwaresupport,trainings
andclasses,aswellasmentoringfromexecutivesofcompaniesunderFirstPacific.

Werequiteproudofthisyear'sbatchofIdeaSpacestartups.They'reatestamenttohowthe
Philippinestartupecosystemismaturing,wherefoundersnowseeaclearerpathfromtheir
ideastoexecutingthemintherealworldandbringingtheirproductstocustomers.Weareglad
tosupportFilipinostartupentrepreneursastheybegintomakeadentinhelpingthegrowthof
thePhilippines,saidDianeEustaquio,ExecutiveDirectoratIdeaSpace.

Diversebatch

Thetenstartupscamefromapooloftwentyfinaliststhatwerewhittleddownto15onfinals
night.Priortomakingittotheaccelerationphaseoftheprogram,thestartupfinalistsunderwent
sixweeksofincubationwheretheyvalidatedtheirinitialstartupideas,learnedtheropesof
establishingandrunningabusiness,anddevelopedprototypesfortheirstartups,ontopof
receivingP50,000initialgrant.

Thisyearsbatchgathersoneofthemostdiversegroupsofstartupsyet,withstartupscoming
fromvariousbackgroundsandbusinessmaturitylevels.Anumberofstartupteamscamefrom
thecorporateworldtopursuetheirideas,whileoneofthemhasbeennurturingtheirstartup

ideaeversincetheywereincollege.Severalarealreadyinthe"revenue"stage,whichmeans
theyarealreadyearningmoneyfromtheirstartups.

Threeoftheteamsareledbyfounderswhoarealsorelatives.Majorityofthefoundershailed
fromMetroManila,withonestartupcomingfromIloilointheVisayas.Mostofthemalsobelong
tothe"millennial"agegroupwithanaverageageof26.

Thisyear,IdeaSpacealsopilotedtheIntrapreneurAccelerationProgram(IAP),whichallowed
internalproductdevelopmentteamsfromcompaniesintheFirstPacificgrouptopitchtheir
ideasandundergotherigorsofincubationandaccelerationunderIdeaSpace.Fourteamsfrom
Voyager,PayMaya,Meralco,andMayniladmadeittotheinauguralIAPthisyear,receivingthe
sameseedfund,training,mentorship,andothernoncashbenefitsthatIdeaSpacestartups
haveenjoyedinthepast.

Roleofequityfreefunding

Eustaquiosaidthedecisiontochangethestructuretoequityfreefundingthisyearcontributed
tothediversityofthestartups.

Weveattractedreallyhighvaluestartupsthisyear,someofwhichalreadyhaveoperational
productsandbusinessmodels.Thishelpsfulfillourroleinenablingearlystagestartupideas
andfeedingthemtotheecosystemlateron,wheretheycangetmorefundingsheexplained.

Bynottakingequityfromthestartupsthattheywillbefundingstartingthisyear,IdeaSpaceis
lettingthefounderstakefullownershipoftheirideasandbusinesses,allowingbothto
collaborateandbringtheseearlystageideastorealityand,eventually,tocommercialviability.

ThesamemodelisbeingemployedbyGoogleforitsLaunchpadAcceleratorprogram,aswell
astheStartUpChileaccelerationprogramfundedbytheChileanGovernmentinSouth
America.

ThetennewstartupswilljoinIdeaSpacesgrowingportfolioof38startupsoverthelastfour
yearsaspartofitshalfabillionpesofundingthatwasinstitutedin2012.

IdeaSpaceissupportedbythefollowingcompanies:FirstPacific,PLDT,Meralco,Maynilad,
SmartCommunications,Inc.,MetroPacificInvestmentsCorporation(MPIC),MetroPacific

TollwaysCorporation,MPIChospitalgroup,FirstPacificLeadershipAcademy,DigitelMobile
PhilippinesanditsmobilebrandSunCellular,SPIGlobal,ePLDT,Indofood,PhilexMining,
MediaQuest,andTV5.ToknowmoreaboutIdeaSpace,visit

www.ideaspacefoundation.org.
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