A new Tech Start-Up Investor is in town!

Ever since the bubble burst back in 2000, venture capitalists and incubators have become sparse in the Philippine IT industry so it’s a little surprising to see one calling out and looking for tech start-ups to invest into. This is good news to budding technopreneurs out there.

If you have a great idea for a tech start-up in the software and mobile space, check out PhiLabs for some assistance on funding your next big project.

This is basically what you’ll get:

seed funding of Php200,000 to built a demo product
second round funding of up to Php1.5 million to launch the product
access and sharing of knowledge, ideas and trends with top entrepreneurs and talents
office and administrative support provided

There’s no requirements for detailed business plan or presentation. All you need is a great idea and the skills to build it up. The initial Php200,000 seed fund might not be big but for a fresh grad or a freelance developer, it could go a long way.

Know more about the company and the people behind phiLabs here. PhiLabs will be holding a launch event at 4.00 pm February 27, 2009 at Ateneo De Manila University Social Science Conference Hall 1 and 2 to introduce the program and its website to potential technoprenuers and partners. Everyone’s invited.

Disclosure: I serve as a consultant to one of the principals of the company but I am not directly affiliated with them.

Abe Olandres

Abe is the founder and Editor-in-Chief of YugaTech with over 20 years of experience in the technology industry. He is one of the pioneers of blogging in the country and considered by many as the Father of Tech Blogging in the Philippines. He is also a technology consultant, a tech columnist with several national publications, resource speaker and mentor/advisor to several start-up companies.

https://www.yugatech.com

51 Comments

ryan says:

15 years ago

This looks very interesting. I just hope some freelance coders will come up of a very interesting idea for us especially those who can’t easily access the internet.

Please someone fund some twitter client here in the Philippines!
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PP user says:

15 years ago

I am concerned about what percentage of profits they will be taking if the business becomes a success?
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Abe Olandres says:

15 years ago

@PP user – it’s the standard 51% – 49% share.
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StrayArrow says:

15 years ago

good news!! …. Some friends of mine are very happy.

By the way sir can you give me ideas or tips on how to put ads in your blog.

Salamat po… I am vey new n blogging.
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BrianB says:

15 years ago

If they’re really serious, why do they have a deadline? And why do you have to have an advanced math degree to submit?

I’m not an inventor or entrepreneur-wannabe but I’m interested in venture capitals generally speaking. Philabs don’t seem to accommodating to the ordinary joe schmoe with a good idea. If they only want PhiSci graduates, they can easily google the address of the school.

200k isn’t exactly hard to come by for well-placed, well-educated youngsters. They can get a high-paying job and save that money in a year.

What I’m saying is that if you have a head and have it in the right place then money isn’t really the issue anymore, at least not in the 200k level. So why give up 49%.
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BrianB says:

15 years ago

I think they’re trying to force an ASEAN Silicon Valley by throwing a big net in the sea. I hope it works out, but if I were someone with a billion-dollar idea, I’d keep away.
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StrayArrow says:

15 years ago

I think BrianB has a good point….well anyway investors are hard to comeby nowadays….. I am an avid reader sir abe….
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StrayArrow says:

15 years ago

Anyways sir, I have a good idea but I don’t know the technicalities of how to do it but I know if its achieved it would be a great realization…
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Abe Olandres says:

15 years ago

@brianb – it’s actually a total of 1.7 million for 51% equity. they just divided it in 2 rounds of funding.
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Paul says:

15 years ago

I totally agree with BrianB (re: first posted comment).
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