MANILA, Philippines— Saturday, November 28, 2015, three promising start-ups won the unique opportunity to bring their innovative business ideas into reality and . The three finalists—namely SkyEye, Wave, and Food Planners Inc.—were awarded initial prizes amounting to P200,000 each, entering into the three months Cohort phase of the Impact Hub Fellowship on Innovation in Mobility with LBC. They receive seed funding, coaching and mentoring, skill development, inspiring coworkspace, and access to 73 international Impact Hubs with 12,000 members worldwide. All this, without giving away equity.
“We truly believe in innovation and the aspiring entrepreneurs and thus created this incubation program together with LBC” explains LizAn Kuster.
At the awarding ceremony held at Impact Hub Manila, 11 finalists presented their business propositions to a reputable panel of experienced industry practitioners and executives.
The jury was composed of Fernando Araneta (Chief Strategy Officer and Innovation of LBC Express), Javier Mantecon (Chief Marketing Officer of LBC Express), Rajan Uttamchandani (CEO of Esquire Financing Inc.), Julia Nebrija (World Bank Consultant and Chair of Inclusive Mobility Network), Joselito Annonuevo (Chief Digital Officer, LBCX), and Mathias Jaeggi (Co-Founder, Impact Hub Manila).
“As a company that prides itself in continuously seeking ways to transform the industry and pioneer new ways, we wanted to be part of an initiative that will cultivate ingenuity and help participants focus it into something tangible. We are glad to have found these three ambitious enterprises” says Dino G. Araneta, Chief Strategy Officer.
The winning teams exemplify the diverse scope of potential innovations in mobility, and they are:
SkyEye Inc. – Realizing a deficiency in the real estate market, with at least 12 million parcels of untitled land, and unnecessarily long and gruelling acquisition and transactional processes, the team at SkyEye provide customers an efficient alternative to comprehensively survey various land and properties with the help of customized drone technology as well as detailed mapping software.
Wave – A welcome addition to the growing sharing economy, Wave is a community-based ridesharing service with a polished strategy targeting residential communities and the urban professionals seeking even more affordable options for their daily commute.
Food Planner – A post-harvest food processing initiative that focuses on farmers, who lack access to the mainstream commercial market. By targeting the foundation of the agricultural supply chain, they are attempting to optimize value chain management by directly connecting the raw material suppliers (farmers) to their end clients (markets, wholesalers, restaurants, and more).
The rest of the finalists, which represent the top ideas chosen from numerous brilliant submissions, included: Urban Cable Car, Bisikleta Kooperatiba, City Smart, MekanikoMo, Biker X, Nyfti, Axis Precision 3D, and Urban Link.
Launched back in October, the Fellowship program is the first collaboration between the country’s leading express delivery service provider, LBC, and Impact Hub Manila—the latest local branch of a global network of innovators, entrepreneurs, techies and creatives. With a common objective for positive social and environmental change, the partnership naturally focused on one of the most pressing concerns: Mobility and Logistics.
With increasingly congested byways and thoroughfares in the metro, inadequate transportation infrastructure, and limited available alternatives, it has become impossible to overlook the public’s outcry.
After the intensive three-month Cohort phase, one team will emerge by end of March 2016 as the winning Impact Hub Fellow. The chosen fellow will then receive additional P250,000 seed funding as well as other additional start-up support worth over P500,000. The winning start-up will continue to develop, grow, and scale its business along with LBC and Impact Hub Manila.
Written by Gio Dion
The Fellowship will be executed in three phases:
PHASE 1: CAMPAIGN & APPLICATION, October and November, 2015
During this phase, we invited everyone interested to benefit from an ideation workshop and business plan writing. From all applications received, up to 11 candidates were invited to a pitching workshop, to prepare them for the awarding ceremony. Three finalists are entered the cohort phase.
PHASE 2: COHORT
The cohort phase is an intensive 3-month acceleration phase, targeting the development of a full-fledged business model and/or prototype, as well as other key competences and start-up skills. Furthermore, finalists gain access to a personal coach, valuable networks, and a stimulating workspace at Impact Hub Manila. At the end of this phase, the Impact Hub Fellow will be selected, who will then enter the Incubation phase.
PHASE 3: INCUBATION
The goal for the Fellow during the 9-month Incubation phase is to build a management team, found a legal entity, develop/test a prototype and/or enter the market, and secure additional funding as well as customer contacts. During this phase, the Fellow receives significant seed funding as well as connections to peer entrepreneurs, mentors, and other beneficial contacts. These relationships, combined with focused skill development and access to a vibrant community of change-makers in an inspiring work atmosphere, will help facilitate the start-up of a thriving social business.
For more details about the Fellowship, please check our website at:
www.impacthub.ph/program-fellowship.