The report noted, however, that startups are well-positioned to create innovative and tech-driven solutions to respond to the crisis, and are leading the way for digital transformation.
The Opportunity Fund aims to invest in startups within and outside of the IdeaSpace portfolio, particularly those who may be looking for funding to help make key business and strategic decisions.
A new survey has found that while capital requirements remain the top concern of local startup founders, the main challenge has shifted from funding to sustaining a viable business model.
Local start-up accelerator IdeaSpace has announced its investment in the top three teams for this year’s start-up competition, after a rigorous four-month acceleration program where 20 start-ups worked with mentors to refine their business and financial model, product, operations, and communications.
With the confidence borne from faith in their hard work, the seventh batch of technopreneurs nurtured by local incubator IdeaSpace presented their start-ups in at IdeaSpace Demo Day held on Tuesday, October 22, in Makati City.
With the partnership, Google will connect IdeaSpace to top accelerators around the world to leverage their best practices and resources.
All of the 17 teams will receive equity-free funding for the development of their platforms, as well as trainings, mentorship, legal services, and an office space in Makati City as part of non-cash support that amounts to P600,000.