Friday, 28/10/2016 | 3:52 UTC+8
Speed Magazine

IdeaSpace opens 2016 startup competition, announces new funding structure

IdeaSpace opens 2016 startup competition, announces new funding structure
User Rating

IdeaSpace Foundation, the startup incubator arm of the PLDT group, announced the opening of its annual startup competition for 2016, which started accepting early-stage startup ideas on January 21.

Now on its fourth year, the IdeaSpace startup competition will also have a new structure that focuses on providing equity-free funding and support to competition winners. This new funding structure can help founders and IdeaSpace to collaborate and focus fully on bringing these early-stage ideas to reality, and to ensure that each idea has a clear and achievable runway toward commercial viability.

“Ever since IdeaSpace was founded, we have declared our belief that Filipino entrepreneurs can turn their innovative startup ideas into reality and make it big on the world stage as long as there is an ecosystem to support them,” said Diane Eustaquio, Executive Director at IdeaSpace.

Interested groups and individuals can now log on to All they need to do is fill up the form and submit their startup ideas for evaluation until March 18, 2016. Submissions from around the Philippines, as well as in the Southeast Asian region, are welcome.

The startup ideas will be screened by an esteemed panel of judges, and only the top 20 will enter the incubation period. From there, at least 10 startups will enter the acceleration phase.

As one of the formidable technology incubators and accelerators in the country, IdeaSpace has helped give birth to about 38 startups over the last four years. Some of the program’s most notable alumni include: SALt, a startup that has developed an innovative saltwater lamp and was featured during the recent APEC Summit 2015 in Manila; PinoyTravel, a startup which helps solve provincial bus reservation woes of commuters; Mobkard, which helps consumers save on purchases through discounts and promos; and Tactiles, which developed an educational toy that helps children learn electronics while playing, among many others.

To know more about IdeaSpace, visit

Related Posts


Available on:

Address: AIRO Media International, Inc. 96-B Panay Avenue, South Triangle, Quezon City
Office hours: 9:00 a.m. - 5:00 p.m. M-F
Tel. Nos.: (02) 374-6771 to 75