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Creating the Next Growth Story in the Philippines
through Technopreneurship and Startups

Dustin RJ Masancay
Associate , IdeaSpace Foundation Inc
Manila Director, Startup Grind
Philippine Statistics – What is Going on?
Location

• Fastest Growing Country in Asia
(7.8% vs. China) in Q1 2013
• English Speaking Country
• 50% of people under 23
• 108 M people – domestic base
• Top 20 economy in 2050 by HSBC
• Investment Grade by S&P and
Fitch in the past 6 months

Need to Sustain Growth Through Technology and Innovation
Why is Technology Entrepreneurship so important?
$ 423.7 Billion
(Philippines)

$ 426.5 Billion
(Revenues)
GDP (PPP)

$127.8

$124.9

$53.9
$ 250.3
Real GDP
(Philippines)

$44.8
$37.9
$36.9
Who We Are
Background

a non-profit
organization that
advocates technology
development,
innovation and
entrepreneurship as a
path to nation
building.

Role
Models

Universitie
s

Angels

Investors

Entrepreneurs

ideaspace
Infrastructur
e

Engineers

Governmen
t and NonCorporates
Profit Law Firms

Working Together to Bring
Technology to the World
Seeking Promising Technology Ideas
INCUBATE

• Find top ideas from the Philippines and
SEA to invest and incubate for the
EDUCATE

• Build and grow the technology
entrepreneurship community in the
Philippines to inspire more Filipino
students to pursue an innovationoriented career.
CONNECT

• Connect startups, potential partners,
angel investors, VCs and other key
ecosystem players
Multi Industry Corporate Partners within the
First Pacific Group

enabled BY a highly diversified conglomerate
(current valuation >$40b)
with an award-winning management team
Budding PH Startup Ecosystem
Idea Flow

Players

R&D

•
•
•
•
•
•
•
•
•

Valuation

Investment
Size

•
DOST
•
DevNet
•
DevCon
PhilDev
ITSO
Techtalks.ph
GDG
Startup
Weekend
StartupGrind

Idea to
Product
IdeaSpace
LaunchGarage
Hack2Hatch

Scale

•
•
•
•

Started after
late 2011

Revenue
and Breakeven

KickStart Ventures
Hatchd
Wireless Wings
ON3/PlugandPlay

Expansion

•
•
•
•
•

< $100K

< $500K

< $2-5M

$10 50K

~ $100K

~ $500k

ICCP
Narra
Venture
Capital
Brummer and
Partners
Bonifacio
Capital
Nova
Founders
> $5M
IdeaSpace as a full model accelerator/incubator
Idea Flow

R&D

Idea to
Product

Scale

Revenue
and Breakeven

Expansion

Approach
Find Ideas
Provide Capital

Provide Expertise

Provide Facility

•

Startup Challenge

•
•
•

Initial support: P500K investment over 6 months ($12k)
During Incubation: Up to P2M ($50 k) for 20%
After Incubation: Up to P5M of additional investment on a
convertible note ($120k)

•
•
•

Provide legal support on incorporation, IP
Provide financial planning capability support
Provide technical support and mentoring from the executives of
First Pacific Group

•
•

Provide office space in Makati
Provide housing for non-Metro Manila incubatees
Screening ideas from global standard level of
competition
Recent acceptance rates

5.8%
•

For the class of
2013, IdeaSpace
selected 10 out of 700
submissions

•

The competition is up
to par with global
standard incubators

3.0%

1.0%

1.4%

2.0%

* Source: Betabeat, Techcrunch, Gagaom, Harvard College
What we are looking for

Criteria
Market Need

Market need or clear customer pain
point

Market Potential

Business model and local and global
market size

Technology

Uniqueness and innovation in
technology use and implementation

Team

Ability of the team to execute their
vision into reality

Synergy

Synergy and scale across partner
company industries
Profile of Ideas – Solution to EM challenges
Category of Idea
(Based on submissions: Top 2 box)
1 40%
34%

•
1 Strong mobile
solutions using mobile
app and software

2 Target on
EM Social Issues

26%

26%
18%

16%

15%

13%
9%

4%

•
2 Social
entrepreneurship, advo
cacy projects and nonprofits presence to
solve prominent
emerging markets
issues
Example of Incubatees
Description
•
ARMtech
•

•
MIRAND

•
•

TimeFree

•
•

PinoyTravel
•

Water purification machine using nanotech. Current technology available
in Philippines kills only bacteria but this one kills virus too, which is a vital
issue in EM
Established by 3 Filipino engineers and advised by a professor at MIT

Affordable artificial joints for the emerging Asia. New technology pushes
knee joint operations cost down to 50% of current prices
Developed by surgeons trained in US
Virtual queuing system. In EM, people make queues for
meals, transportation, leisure, etc and this service saves the trouble
Deployed by SMART and Western Union in 3 countries. $100K USD
revenue in less than 6 months
Provincial bus reservation system to increase the easiness to take buses.
Buses are one of the most frequently used transportation means in
EM, but ticketing/reservation are not as simple as flight or railway
9 out of top 10 bus companies have signed up for the service
Our Management Team
Roles
•
•

Chairman
Managing Director at First Pacific Group

Earl
Valencia

•
•
•

President, Co-Founder
Head of corporate development at SMART
Stanford MBA ‘09

Diane
Eustaquio

•
•
•

Executive Director
Metro Pacific Investments
DENR

Marthyn
Cuan

•
•

Vice President, Co-Founder
CIO, Manila Electronic Company

Dustin
Masancay

•
•
•

Associate Director of Venture
Philippine Director, Startup Grind
University of Philippines, Economics

Manuel
Pangilinan
Our awesome interns
Additional third party/government support
Partners

Support
Academic ITSO to assist patent search, patent filing
BizSpark: License forMS Software products during incubation
Free licenses for all IBM software and paired up with a mentor ISV
$2500 amazon credits with mentoring and training from Amazon
Specialists from Singapore
Mentoring and assistance on Hardware based prototypes
Internship for MBA students, lectures and case study writing
ENEDA - Bootcamps and cases for entrepreneurship educators
Stanford GSB Global Group – MBA intern funding from Stanford
National Instruments – Enrollment in Planet NI Program

Freelancer– $100 in Freelancer Credits
IdeaSpace Makati Office

ideaspace

16
Technopreneur Bootcamp Series
@ UP Bootcamp

@ Ateneo Bootcamp

@ JCI-MIT
Bootcamp

@ DLSU Bootcamp

Reaching out at the grassroots level to raise awareness about
technopreneurship
Technopreneur Bootcamp Series

Tech talks

Team meetings and mentoring

Team presentations and judging
Top 10 Geographical Distribution

Population Density
Map
per Province
Philippines

Angeles
Manila

Cebu

Zamboanga

ideaspace

Davao

19
Let’s Make Things Happen!

facebook.com/masancay

@dustinmasancay

ph.linkedin.com/in/dustinmasancay/

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IdeaSpace: Supporting Startups

  • 1. Creating the Next Growth Story in the Philippines through Technopreneurship and Startups Dustin RJ Masancay Associate , IdeaSpace Foundation Inc Manila Director, Startup Grind
  • 2. Philippine Statistics – What is Going on? Location • Fastest Growing Country in Asia (7.8% vs. China) in Q1 2013 • English Speaking Country • 50% of people under 23 • 108 M people – domestic base • Top 20 economy in 2050 by HSBC • Investment Grade by S&P and Fitch in the past 6 months Need to Sustain Growth Through Technology and Innovation
  • 3. Why is Technology Entrepreneurship so important? $ 423.7 Billion (Philippines) $ 426.5 Billion (Revenues) GDP (PPP) $127.8 $124.9 $53.9 $ 250.3 Real GDP (Philippines) $44.8 $37.9 $36.9
  • 4. Who We Are Background a non-profit organization that advocates technology development, innovation and entrepreneurship as a path to nation building. Role Models Universitie s Angels Investors Entrepreneurs ideaspace Infrastructur e Engineers Governmen t and NonCorporates Profit Law Firms Working Together to Bring Technology to the World
  • 5. Seeking Promising Technology Ideas INCUBATE • Find top ideas from the Philippines and SEA to invest and incubate for the EDUCATE • Build and grow the technology entrepreneurship community in the Philippines to inspire more Filipino students to pursue an innovationoriented career. CONNECT • Connect startups, potential partners, angel investors, VCs and other key ecosystem players
  • 6. Multi Industry Corporate Partners within the First Pacific Group enabled BY a highly diversified conglomerate (current valuation >$40b) with an award-winning management team
  • 7. Budding PH Startup Ecosystem Idea Flow Players R&D • • • • • • • • • Valuation Investment Size • DOST • DevNet • DevCon PhilDev ITSO Techtalks.ph GDG Startup Weekend StartupGrind Idea to Product IdeaSpace LaunchGarage Hack2Hatch Scale • • • • Started after late 2011 Revenue and Breakeven KickStart Ventures Hatchd Wireless Wings ON3/PlugandPlay Expansion • • • • • < $100K < $500K < $2-5M $10 50K ~ $100K ~ $500k ICCP Narra Venture Capital Brummer and Partners Bonifacio Capital Nova Founders > $5M
  • 8. IdeaSpace as a full model accelerator/incubator Idea Flow R&D Idea to Product Scale Revenue and Breakeven Expansion Approach Find Ideas Provide Capital Provide Expertise Provide Facility • Startup Challenge • • • Initial support: P500K investment over 6 months ($12k) During Incubation: Up to P2M ($50 k) for 20% After Incubation: Up to P5M of additional investment on a convertible note ($120k) • • • Provide legal support on incorporation, IP Provide financial planning capability support Provide technical support and mentoring from the executives of First Pacific Group • • Provide office space in Makati Provide housing for non-Metro Manila incubatees
  • 9. Screening ideas from global standard level of competition Recent acceptance rates 5.8% • For the class of 2013, IdeaSpace selected 10 out of 700 submissions • The competition is up to par with global standard incubators 3.0% 1.0% 1.4% 2.0% * Source: Betabeat, Techcrunch, Gagaom, Harvard College
  • 10. What we are looking for Criteria Market Need Market need or clear customer pain point Market Potential Business model and local and global market size Technology Uniqueness and innovation in technology use and implementation Team Ability of the team to execute their vision into reality Synergy Synergy and scale across partner company industries
  • 11. Profile of Ideas – Solution to EM challenges Category of Idea (Based on submissions: Top 2 box) 1 40% 34% • 1 Strong mobile solutions using mobile app and software 2 Target on EM Social Issues 26% 26% 18% 16% 15% 13% 9% 4% • 2 Social entrepreneurship, advo cacy projects and nonprofits presence to solve prominent emerging markets issues
  • 12. Example of Incubatees Description • ARMtech • • MIRAND • • TimeFree • • PinoyTravel • Water purification machine using nanotech. Current technology available in Philippines kills only bacteria but this one kills virus too, which is a vital issue in EM Established by 3 Filipino engineers and advised by a professor at MIT Affordable artificial joints for the emerging Asia. New technology pushes knee joint operations cost down to 50% of current prices Developed by surgeons trained in US Virtual queuing system. In EM, people make queues for meals, transportation, leisure, etc and this service saves the trouble Deployed by SMART and Western Union in 3 countries. $100K USD revenue in less than 6 months Provincial bus reservation system to increase the easiness to take buses. Buses are one of the most frequently used transportation means in EM, but ticketing/reservation are not as simple as flight or railway 9 out of top 10 bus companies have signed up for the service
  • 13. Our Management Team Roles • • Chairman Managing Director at First Pacific Group Earl Valencia • • • President, Co-Founder Head of corporate development at SMART Stanford MBA ‘09 Diane Eustaquio • • • Executive Director Metro Pacific Investments DENR Marthyn Cuan • • Vice President, Co-Founder CIO, Manila Electronic Company Dustin Masancay • • • Associate Director of Venture Philippine Director, Startup Grind University of Philippines, Economics Manuel Pangilinan
  • 15. Additional third party/government support Partners Support Academic ITSO to assist patent search, patent filing BizSpark: License forMS Software products during incubation Free licenses for all IBM software and paired up with a mentor ISV $2500 amazon credits with mentoring and training from Amazon Specialists from Singapore Mentoring and assistance on Hardware based prototypes Internship for MBA students, lectures and case study writing ENEDA - Bootcamps and cases for entrepreneurship educators Stanford GSB Global Group – MBA intern funding from Stanford National Instruments – Enrollment in Planet NI Program Freelancer– $100 in Freelancer Credits
  • 17. Technopreneur Bootcamp Series @ UP Bootcamp @ Ateneo Bootcamp @ JCI-MIT Bootcamp @ DLSU Bootcamp Reaching out at the grassroots level to raise awareness about technopreneurship
  • 18. Technopreneur Bootcamp Series Tech talks Team meetings and mentoring Team presentations and judging
  • 19. Top 10 Geographical Distribution Population Density Map per Province Philippines Angeles Manila Cebu Zamboanga ideaspace Davao 19
  • 20. Let’s Make Things Happen! facebook.com/masancay @dustinmasancay ph.linkedin.com/in/dustinmasancay/

Notas del editor

  1. -Almost half of the top 20 is from outside Metro Manila-25% from Cebu (Visayas); 3 teams from Mindanao-Correlation between geographic distribution of top 20 and population density-For 2013, focus is to conduct roadshows at selected cities using a regional-wide roadshows.