On April 15, the Department of Trade and Industry (DTI) concluded its Incubation, Development, and Entrepreneurial Assistance (IDEA) and Accelerating Development, Valuation, and Corporate Entrepreneurship (ADVanCE) for Creatives Programs with a Demo Day at Whitespace Manila, Makati City.
The Demo Day included pitches by each of the participants in the IDEA and ADVanCE programs, with a judging panel including DTI-CIG Assistant Secretary Dr. Leonila Baluyut, Philippine Art Events, Inc. Co-Founder Geraldine “Dindin” de Borja Araneta, and Plug and Play Tech Center Co-Founder Jojo Flores.
MVRK Simulations, a training solutions startup operating within the gamified software development company Taktyl Studios, was named the IDEA for Creatives program winner, earning a prize of P75,000. ROC.PH, a marketing-as-a-service platform, emerged as the ADVanCE for Creatives program winner, earning a prize of P100,000.
The DTI-Competitiveness and Innovation Group, led by Undersecretary Rafaelita M. Aldaba, partnered earlier this year with startup accelerator Launchgarage to launch the creatives edition of the IDEA and ADVanCE programs. These programs aimed to provide customized support to creative startups in the Philippines to help them become market and investment-ready, in line with the aims of RA 11337, or the Innovative Startup Act. Participants in both IDEA and ADVanCE were given access to various workshops, mentorship opportunities, and other intensive training to accelerate the growth of their businesses.
The demo day kicked off with a speech by Asec. Leonila Baluyut highlighting the importance of boosting the local startup ecosystem. “The Philippine startup ecosystem is rapidly growing and gaining momentum,” Asec. Baluyut said. “It recently ranked fifth in the Global Innovation Index 2022 among ASEAN Member States, which is why we must support local startup growth with agile programs such as IDEA and ADVanCE.”
Apart from MVRK Simulations, the pitching startups for the IDEA program included multi-vendor marketplace for Filipino entrepreneurs Produkto PH, media production agency Transcend Studios Inc., marketing firm Carisle Media Corporation, kid-friendly creative content platform Kwentoon, sports and fitness-focused Palaro app creators 7X7 Development Corp, and inclusive tech startup Wika Media. A number of sustainable fashion startups are also included in the program, such as lifestyle brand Brave Story, sustainable footwear maker Pamitisan Shoe Shop, and Denim & Denim which partners with artisans to upcycle denim waste into eco-friendly bags.
The ADVanCE program featured Zamboanga-based creative solutions provider KikoMonster Creative Studio, marketing-as-a-service startup ROC.PH Digital Marketing Services, digital learning video production company Bihasa, print ad to video animation conversion service AniMattify, and Filipino brand-focused marketplace Bentamo.
According to MVRK Solutions Founder James Lo, his startup’s participation in the program was an eye-opening experience. “I’ve been in business for a number of years already so when I signed up there was an initial question ‘What else can I know? What else can I find out?’,” said Lo. “To my surprise, I learned a lot about finance, fundraising, pitches, and presentations. On top of the educational experience, there was also the network you can find through the program such as the investors and the mentors. It was very fruitful.”
“I really appreciate all the feedback I received throughout the program. From the best ways to refine a pitch to how to improve the way I serve my clients, and even the advice I got from other MSMEs,” shared ROC.PH Founder Ron Oliver Clarin.
In addition to the cash prize for the two program winners, the DTI is committed to further support all graduates of the IDEA and ADVanCE programs. This includes integrating them into their network of mentors and investors and connecting them with any potential opportunities.
The Demo Day concluded with closing remarks by the DTI Bureau of Industry Planning and Innovation Director Lillian Salonga, who thanked the startups for their participation in the programs. “I extend my gratitude to our founders and entrepreneurs for gracing us with their presence. Your dedication, resilience, and unwavering commitment to excellence have been truly inspiring. You are shaping industries and driving the future of the creative landscape,” Dir. Salonga said.