IdeaSpace to invest P1Mn each to 3 startups
Non-profit organization IdeaSpace Foundation will provide P1 million each (US$17,769) to three startups to capitalize on the digital shift in the new normal.
According to IdeaSpace, the startups Betterteem, Fitscovery, and Twala were chosen because they laid out the most feasible blueprints for growing their business.
Betterteem, a workplace app powered by artificial intelligence, maximizes predictive analysis for benchmarking and insights. It also provides employee assistance programs on demand to make mental health support accessible in the workplace.
Fitscovery acts as a service network that micro, small, and medium enterprises engaged in the fitness industry can use to put up their products online. The platform gives them the tools they need to install their websites with integrated procedures for booking and payments, as well as capacity for customer database management.
On the other hand, Twala serves as the country’s first document manager and e-signature site – powered by blockchain – that seeks to optimize business procedures in the pandemic aftermath by reducing red tape, courier costs, and avenues for fraud.
IdeaSpace President Butch Meily said that the three firms exhibited the capacity to scale up operations in the future during the program.
Meily added that the startups are operating in industries that are seen expanding in the new normal’s contactless transactions.
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