The Department of Trade and Industry (DTI) and tech-focused nonprofit PhilDev Foundation (Phildev) held the ADVanCE incubation program’s first ever Demo Day on Wednesday, June 22, where the program’s six socially-conscious start-ups pitched their profitability, new products, and plans to scale in the hopes of gaining partners and investors.
The Accelerating Development, Valuation, and Corporate Entrepreneurship or ADVaNCE program is a collaboration between DTI and Phildev that was launched in January to support local growth-stage start-ups endeavoring to fulfil societal needs. Growth-stage start-ups have proven demand for their product or service exists and are attempting to expand their operations.
Upon witnessing the program’s results, DTI secretary Ramon Lopez hinted at the possibility of the six participating businesses’ global expansion.
“We are confident that this program will surely equip our start-ups for their eventual immersion to the global markets,” he added.
The homegrown businesses who composed the program’s first cohort are:
- Edukasyon.PH: The leading technology education platform in the Philippines. It currently offers their pioneer college and career finder, their Gen Z future career skills training courses, and their newest product, EDGE Tutor, an online tutoring platform for K-12.
- Empath: A mental health service with a supporting Web platform that aims to provide both workplaces and schools with affordable access to curated and vetted mental health professionals.
- InsightSCS: This company offers a single digital supply chain platform that handles tasks from fleet dispatch to transport management to supply chain financing as well as integrates all stakeholders and participants in a supply chain to increase efficiency while cutting costs. It serves local farmers, manufacturers, and government agencies.
- Nanotronics: A cleantech start-up that pioneers the production of cellulose nanocrystals creating an advanced polymer derived from crops indigenous to the Philippines. This polymer has wide variety of industrial applications including packaging, medicine, and electronics.
- Magwai: A personal care company that centers around innovating marine-friendly products. Their line spans from sunblock to hair care and it provides consumers sustainable, effective, and accessible alternatives to typical personal care products.
- TakeFive Outdoors: A guided outdoor adventure company that partners with local communities to deliver adventures across Luzon. Through their website and app, they help tourists find exciting experiences that simultaneously support tourism-based communities.
After the entrepreneurs’ pitches, DTI undersecretary Rafaelita Aldaba echoed Lopez’s hopes for a global growth. “You have exhibited great commitment and dedication to this program and diligently finished and completed the required activities and at the same time, harness the opportunities and engagements in order to excel in your respective industries and progress and advance to a higher start-up phase,” she said.
“We believe that you have already reached new heights for your start-ups and this will serve as a leverage for you as you grow and expand globally,” Aldaba added.
Phildev chairperson Francisco Sandejas stressed, however, that the businesses would require support to reach these new levels. “At Phildev we continuously commit to enabling the success of Filipinos. But in order to do this, we need all players from the government, the private sector, organizations, and investors to help pave the way for Filipino start-ups to compete locally and globally,” he said.
The ADVanCE program was launched along with its sister incubation program, Incubation, Development, and Entrepreneurial Assistance (IDEA), that focused on nurturing 19 early-stage start-ups.