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DICT, 1337 Ventures name top three ‘Alpha startups'

Friday, July 01, 2016 05:51 AM    Views : 389by:DOST-ICTO

The Department of Information and Communications Technology (formerly DOST-ICT Office), 1337 Ventures & PSIA-Spring.Ph have collaborated to conduct the second batch of the Alpha Startups Bootcamp – Philippines held in Metro Manila last June 13-17, 2016.  The bootcamp is a five-day pre-accelerator program packed with in-depth discussions for startups who are preparing for pre-seed funding.

Andre Gan, a startup founder, admits that before joining the bootcamp, his startup business is "moving at a slow rate". Andre, along with nineteen other startup teams were given hands-on exercises which helped them develop their startup skills including business model and idea validation.

Several successful startup founders like Rey Refundo of Quickwire; Ron Hose of Coins.ph; and John Bailon of Satoshi Citadel Industries also dropped by to share their stories of struggle and success which helped teams like that of Andre to put their ideas into reality.

"The bootcamp helped solidify the belief in our product. I learned how the mind of an investor works, I also learned a bit of everything from market validation, product creation, and go to market strategies." shares Andre, whose startup "BusTayo" advanced to the demo day where the initial twenty teams were trimmed down to ten. On demo day, the ten teams pitched their ideas in front of 1337 Ventures mentors Bikesh Lachmichand and Jason Chia, Monchito Ibrahim of DICT including guest judges from UP-Enterprise Center, Kickstart, LaunchGarage along with the angel investor community.

Of the ten teams that pitched on demo day, three top teams were chosen: BusTayo (bus ticket reservation platform which does not require credit cards or receipts); Detivo (Point of Sale system as a platform which will help restaurants integrate with other solutions and aggregate sales data) and BetterHapp (a web-based wedding management application). The top three teams each received $25,000 worth of support including a microfund, business support and credits from Amazon Web Services and the teams will undergo acceleration program from 1337 Ventures to ensure the growth of their startups.

Francis Simisim of Detivo advices other startup teams not to miss this kind of opportunity,  "If you have an idea or already starting up, it's important to work with experienced experts like 1337 Ventures, to validate, improve, scale up and prepare to raise cash. Their insights and experiences will truly help you with each stage that each startup will go thru."

The Philippine startup ecosystem is now in a dynamic state as the community unites to continuously support and showcase Filipino startups. The DICT will continue on its drive to promote innovation and entrepreneurial initiatives throughout the country.

 

About DICT – The Department of Information and Communications Technology is the Philippine Government's lead agency on ICT related matters. Its primary thrusts are in the ICT Industry Development, eGovernment, ICT policy development, Internet for all and Cybersecurity.

Source: http://icto.dost.gov.ph/dict-1337-ventures-name-top-three-alpha-startups/

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