The Department of Trade and Industry (DTI) and the PhilDev Foundation formally launched two new startup programs — the Incubation, Development, and Entrepreneurial Assistance (IDEA) and Accelerating Development, Valuation, and Corporate Entrepreneurship (ADVanCE) — last January 12 via Facebook Live.
Through IDEA and ADVanCE, the government intends to mitigate the challenges being faced by startups by providing customized interventions and support such as coaching, mentoring, training, and workshops.
The Incubation, Development and Entrepreneurial Assistance or IDEA is for early-stage tech startups. The program encourages collaboration between startups, mentors, investors, and the government to create market-ready innovative science and technology products and services.
On the other hand, Accelerating Development, Valuation, and Corporate Entrepreneurship or ADVanCE is for growth-stage tech startups that assist the expansion of business operations and enable them to deliver products and services that will address strategic societal needs.
“We are pleased to present the IDEA and ADVanCE program. These programs are designed to nurture, develop startups, and ensure that they will become economic assets, as competitive job-generating platforms. In these programs, startups will access tailored workshops and mentorship from global talent, market readiness assessment, legal and financial support services, and many more,” said PhilDev Foundation executive vice chairman Eric Tomacruz.
Startups can join the programs by sending their applications until Jan. 17 via www.phildev.org/idea-incubation or www.phildev.org/advance.
