Three tech startups receive P1 million from IdeaSpace
18 July 2022
Pangilinan-led IdeaSpace Foundation has infused P3 million into three tech startups that capitalize on the shift to digital structures to tackle challenges and risks arising from the new normal.
Tech startups Betterteem, Fitscovery and Twala are getting P1 million in investments each after pitching the satisfactory proposals at the ninth run of IdeaSpace’s acceleration program.
IdeaSpace, chaired by using commercial enterprise mogul Manuel V. Pangilinan, stated it selected the three startups to receive funding from the enterprise for laying out the most viable blueprints in growing their business.
Betterteem, a administrative center app powered by synthetic intelligence, maximizes predictive evaluation for benchmarking and insights. It also provides worker help programs on demand to make intellectual fitness support on hand in the workplace.
Fitscovery acts as a provider network that micro, small, and medium firms engaged in the fitness enterprise can use to put up their merchandise online. The platform gives them the equipment they want to install their web sites with integrated techniques for reserving and payments, as properly as ability for consumer database management.
On the different hand, Twala serves as the country’s first record manager and e-signature website online – powered by blockchain – that seeks to optimize commercial enterprise strategies in the pandemic aftermath by means of reducing purple tape, courier cost, and avenues for fraud.
IdeaSpace president Butch Meily said Betterteem, Fitscovery, and Twala exhibited the capability to scale up operations in the future at some stage in the program.
Meily also stated the startup firms function in industries that are considered expanding in the new normal given the pandemic’s legacy of promotion contactless transactions.
“We chosen these three startups because they have verified clear and strong plans to acquire rapid boom and outlined a big market possibility in their respective industries. Over the length of the IdeaSpace acceleration program, they have also shown their capacity to scale quickly,” Meily said.
Based on records, Betterteem keeps a community base of greater than 3,000 users as it works with enterprise method outsourcing giants like Accenture and Startek. Fitscovery, for its part, has 318 carriers on its registry catering to about 5,000 shoppers on its platform.
Twala transacts with at least 2,000 individuals, 200 firms, and seven partners, credited for cutting contract signing time from up to 14 days, to simply two hours or less.
IdeaSpace hosts early-stage startups for its acceleration program that stretches for a yr in an effort to construct up their team, refine their ideas, and enhance the products and offerings they offer.
