“The world runs on team-powered ideas, can your team bring it on?”
This is the challenge that the IdeaSpace Competition poses to startup teams and companies. IdeaSpace is a business incubator that supports startup companies in the Philippines, and the global market. It makes investments through partnerships with the Manuel V. Pangilinan Group of Companies and global technology companies.
IdeaSpace holds an annual competition for startups to “help budding tech entrepreneurs as they seek to build, develop and operate startup companies in the Philippines and to transform their ideas into successful products and scalable businesses.” Last year they awarded 10 innovative startups with P500, 000 seed funding, plus another P500, 000 grant worth.
This year another 10 worthy startups will be chosen to be awarded with P1 million worth of support including P500,000 seed funding, incorporation and business registration, AIM entrepreneurship program, software support, office space and mentoring.
Around 600 participants are expected, which will then be reduced to 100 teams by round 2, and 50 teams by round 3. By round 4, only 20 teams will remain to participate in a 5-day bootcamp, and 6-week remote incubation for prototype development and customer validation. The final round will decide which teams will be in the top 10.
Those who are interested to join can still submit their entries until March 18, 2016. All they have to do is fill up the online form. The only qualification needed is that each team should be composed of 1-3 members with at least one technical expert. The team may submit more than one entry. However, only a single entry per team can qualify for incubation.
To get an edge over the others, participants must submit their applications before deadline, connect with Ideaspace directly if they have any questions and ask tips from previous winners. They should also read the terms and conditions thoroughly, fill up the required forms accordingly with clear and precise answers, and check their emails regularly. For more tips, head over to IdeaSpaceHelpGroup.
