Earlier last month, three alums of this year’s IdeaSpace accelerator program were awarded P1 million each in exchange for equity to further develop their startups.
Announced during Philippine Startup Week, at Google Philippines last Nov. 21, the award was given to courier operations solutions platform Airship Logistics, hotel services support and aggregator Cocotel, and gamified community travel platform Experience Philippines.
The three startups bested 17 others during the rigorous four-month acceleration program.
Following the announcement, the groups will be receiving P1 million each in investment from IdeaSpace in exchange for equity. They’ll also be able to enjoy access to exclusive learning sessions, free use of office space, and the foundation’s extensive network of potential partners, resources, and investors.
“These three companies are already gaining traction, even attracting interest from larger local corporations,” said Butch Meily, president of IdeaSpace. “They provide a promising view of the kinds of businesses, solutions, and services the Philippines will be able to offer as our own digital economy matures.”