Thursday, October 22, 2015

DOST-ICTO Boosts Philippine Tech Startups

Posted By: The Mail Man - Thursday, October 22, 2015

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DOST-ICTO Boosts Philippine Tech Startups

The Department of Science and Technology through its Information and Communication Technology Office has formulated Outcome 4. It aims to achieve global leadership in the ITBPM Industry by generating at least 1.3 million jobs in the ICT industry by 2016.

SeedPH initiative is part of the program called DigitalPH composed of three other flagship initiatives; Next Wave Cities, Stepping Up the Value Chain and Rural Impact Sourcing (RIS).

The ICT Office already has initiatives for the IT-BPM industry sector is also focused on the development of the Philippines’ IC oriented startups. There are currently at least 100 tech startups and around 20 accelerators, incubators and venture capitalists although the US$50 million mark in valuation has yet to be reached. But as one of the fastest growing economies in Asia and with a lively and dynamic  community of  technopreneurs, the potential for being a global startup hub is present.

Currently, the Philippines is home to around 20 accelerators, incubators, and venture capitalists as well as at least 100 tech startups. And while there are many success stories among local startups to date, none have yet to surpass the $50 million mark in valuation.
   
According to their press release, The DOST-ICTO will kick off its Alpha Startup Bootcamp in Cebu City on November 9 to 13, 2015. This is will benefit startups that are in their idea and validation stages by having the pre-acceleration program.

The inaugural 5-day Bootcamp will feature workshops on customer and product development, pitching, mentoring sessions, and networking sessions that will help startups advance from idea generation to developing viable products and business models.

Workshops on customer and product development, mentoring sessions, pitching and networking sessions will be featured in the Bootcamp. This will be helpful in making startups advance from idea generation to developing viable products and crafting business models. The conclusion of the Bootcamp will be the presentation and demonstration of outputs by startups that will be attended by key investors.

“This Alpha Startup Bootcamp will help early stage startups get off the ground by teaching them the basics of building a digital business. This is a gap we currently see in the Philippine startup ecosystem that this initiative will help address,” said DOST-ICTO Deputy Executive Director Monchito Ibrahim.

In response to such a gap, the DOST-ICTO has partnered with TechTalks.ph and Malaysia-based accelerator1337 Ventures for this Bootcamp. TechTalks.ph and1337 Ventures – champions of startups in the country’s grassroots communities and the ASEAN, respectively – see the first Alpha Startup Bootcamp as an opportunity to meet promising Philippine startups they can potentially work with to further develop the startup communities in the country and the ASEAN region.

Startups that successfully graduate from the program will have a chance to receive micro-funding and resources that are helpful for their startup as well as gain priority admission into funding programs run by 1337 Ventures. More importantly, they will become validated startups with stronger pitches and will be more ready to pursue business ventures.

Entrepreneurs can now apply for the Bootcamp at http://alphastartups.co. A one-minute video pitch must be submitted as an entry point. The deadline for submission of entries is on 26 October 2015.

Qualified entrepreneurs will be notified of the application results by November 2. The Bootcamp is open to 50 startup founders and co-founders of early stage startups who have initially started conceptualizing innovative ICT startups.

The Alpha Startup Bootcamp is part of the ICTO’s larger initiative of promoting technopreneurship and innovation in the country through its seedPH program.

Towards this, seedPH leverages the use of ICT for relevant economic and social change through establishment and unification of the Philippine startup ecosystem and the proliferation of innovative ICT businesses. Key projects under seedPH include Startup Weekends, Startup Workshops, the Philippine Roadmap for Digital Startups, and the annual Philippine Startup Challenge.

For inquiries on the Alpha Startup Bootcamps and seedPH, follow us at facebook.com/digitalPH2015 or email karla.legaspi@icto.dost.gov.ph.









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Techblade.ph is an online publication which brings to you the news on Philippine Science, Information and Communications Technology, Gadgets, and Tech Lifestyle.


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