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.
Is the answer 650670 I posted on http://pinoychan.org/boards/pro/res/559.html for the puzzle on regular expression correct?
just my two cents worth, here’s some thoughts about funding an idea from ycombinator. http://paulgraham.com/startupfunding.html
Being an avid observer of US startup scene, I think the 51/49 thing is way over the norm.
I think PhiLabs should be aware that the geeks here are not that cheap. Head on to yCombinator and read http://news.ycombinator.com.
@ everyone who thinks this 51% thing is bad.
It’s actually not that bad. You get free office space, without the cost of spending for rent. You get administrative, technical support without a single cent spent.
It’s not all about making money, at the end of the day, you want to just help the world become a smarter place.
As for the math problem, it doesn’t take a genius to solve it, you have to think of the way to solve it. After all, whats important is how you systematically process and solve a problem.
It doesnt need to be done this way, you can find 200K from your family and friends, or from your own savings. But to start now, maybe it’s a good option.
@joedwebguy thanks sir. pero di po ako math major software engineer po he he he he.
Well this is possible solution too.
Thanks…
@Aris, and other math majors
ph, (p or h repeated 1to5 times) i (or more i’s (+)), l (or more l’s (+)), a, b, s (no s or many s’s (*)), as long as the string is up to 100 in length.
you have to count variations on strings that would match this thing up to strings up to one hundred in length :)
kelangan ata ng funding ng pinoychan.org.
site to beat: tipidpc.com
Hula ko lang po yung 77 pwede rin namang 7 kasi ang tanong naman N<=100 string less than N so yung 7 is less than N
(ph){1,5}i+l+abs = philabs parin he he he
Naku siguradong bura ito sa Yugatech
@Edwin – Sir mukhang di naman masyadong mayabang ang worried ko lang is baka ma abuse yung mga mag su-submit ng idea hangang ngayon wala parin Terms & Condition sa Application form.
I agree na para nga ito sa mga no choice na developer na walang makuhang Angel Investor.
Sabi nga
“It’s doesn’t matter if you have a killer idea because there are thousand person thinking with the same idea what matter is how you going to create product on that ideaâ€
Yung Problem Solving pang elementary 77 lang ang sagot he he he he.
N=78 in Ascii Code
(ph){1,5}i+l+abs = philabs
Ngayon pa ano sya nag match
(ph){1,5}i+l+abs is equal parin sa
philabsssssssssssss hangang maging 77 character or 100+ equal parin sya
Everyone knows that. And isn’t it quite obvious? Funded is indeed needed. I never mentioned and I don’t think I even implied that funded is not needed.
What I’m saying is, if they’re expecting “the Next Google” as it was mentioned in their website, that means they’re after the people who have GREAT FAITH in their idea. As I mentioned, if you have that much faith in your idea, then you are confident that it will make you millions. Now if you’re confident that it will make you millions and it will succeed, then why join this if in the end you won’t own the product anyway?
Giving 51% of the share in a corporation means you are relinquishing your control. So even right after the first of funding, Philabs can already direct you on the direction that you’ll be going (I’m not saying they will, but they can). That means if they recognize your product as a future million dollar cashcow, they’ll have the capacity to IMPOSE their own ideas on how you SHOULD go about creating your product.
Also since even just on the first round of funding you give them 51% — ” PhiLabs will provide successful First Round Teams (“FRTâ€) an initial capital of PHP 200,000 for a 51% share of the company.” — they will have majority ownership on the idea/the company already regardless if you make it to the second round of funding. Which means, they’ll have majority control on the idea how it will be expanded. So from the very first round of funding, they already have the upper hand, the last say on how things will progress.
I wouldn’t want that if from the very start I BELIEVE that I have a billion-dollar idea, which they are practically saying (” If you think you have that one great idea…”,”Are you the next Google?” – Philabs).
@paulo – even great ideas need marketing money. that’s where funding comes in.