Ideaspace Foundation held its first Competition Roadshow for the year 2016 in Bohol at Tambahayan Cafe, Palma Street, Tagbilaran City on January 29, 2016. Ideaspace Executive Director Diane Eustaquio and Technical Assistant for Startup Services Brenda Valerio facilitated the event.
The participants included local technology and startup advocates, freelancers, members of the Google Educators Group, students, the Fab Lab team and IT professionals from around Bohol. There was also a participant all the way from Siquijor.
Ms. Lai Biliran, Bohol ICT Council Chairperson and Ms. Nanette Arbon, DTI-Bohol Provincial Director were also present and showed their support for the tech community in the province.
A participant asked, “What should they expect from the program?” Eustaquio answered that they should expect to go through a very tough period in a pressure cooker environment.
“It is important to be ready to face the challenges of the life of an entreprenuer. It is not easy. IdeaSpace is there to help with the very difficult period of starting a business, but we will not be around all the time. It’s a life changing event.”, she added.
Ideaspace Foundation is looking for teams with synergy, proven track record, and the stamina to bring their startup idea to market. The roadshow allowed the participants to ask more about the details of startup competition and how to increase their chances of being selected into the acceleration phase.
Those accepted will have access to up to P1 million funding which will include up to P500,000 in cash, while non-cash benefits such as housing, transportation, incorporation, office space, communication, software support, trainings and classes, as well as mentoring from executives of companies under First Pacific. Their team must have at least two members in Manila full time for 4.5 months. They will also take classes at the Asian Institute of Management (AIM).
Starting 2016, Ideaspace adopted a new structure in which the foundation will no longer have equity in the startups that go into the incubation stage.
The participants of the Ideaspace Competition Roadshow in Bohol.
