START-UPS from different fields will be given a chance to undergo mentorship from serial entrepreneurs and industry executives in a program launched by the Asian Institute of Management (AIM) in collaboration with Filipino-American entrepreneur Diosdado P. Banatao.
On Thursday, AIM and Mr. Banatao, or “Dado” to many of the entrepreneurs he had helped, have started accepting applicant start-ups in their goal of accelerating the development of the start-up community and open up more opportunities for local entrepreneurship.
The AIM-Dado Banatao Incubator Program intends to support businesses from various industries such as science, engineering, communications, health and agriculture.
Start-ups need not to worry about the rental fee as the program offers a rent-free space with high-speed internet connectivity.
“Aside from providing qualified start-ups rent-free working space, AIM will also gladly make accessible to them a mentoring program and the expertise of our facility and alumni,” said Jikyeong Kang, AIM president and dean.
The incubator can accommodate 11 eleven start-ups with at least two to six members. There should be one founder who has science and engineering background, and another with market and business expertise.
The chosen start-ups will undergo mentorship from serial entrepreneurs, top executives and industry experts.
The mentors include Silicon Valley pioneer Mr. Banatao and Francisco “Paco” S.A. Sandejas, managing partner of Narra Venture Capital, who has knowledge in profitable returns in the fields of communications, semiconductors, and internet infrastructure.
The program is open to early stage start-ups with or without prior external funding, revenues or customer traction.
“We are accepting start-up even in concept stage,” said PhilDev Foundation Executive Manager Samuel “Chips” Guevara.
Interested applicants should apply online through their web site. The application process has no set deadline. As long as the incubator program has enough space, it will continue accepting applicants.
When asked about the funding for seed capital for each start-up, Mr. Guevara said: “We are working on it. We have an amount in mind, [but] it is premature right now to disclose.”
Given the joint partnership and leadership of AIM, Department of Science and Technology, and PhilDev Foundation, the AIM-Dado Banatao Incubator Program promises access to practical knowledge and expertise. – Rosemarie A. Zamora
