11 local startups complete DTI 7 STARTUPISLAND.PH mentoring program | Department of Trade and Industry Philippines

CENTRAL VISAYAS – Eleven startups from Bohol and Cebu showcased their innovative solutions and entrepreneurial progress during the highly anticipated STARTUPISLAND.PH demo day and graduation on Friday, October 18, 2024 in Cebu City. These startups successfully completed the rigorous mentoring program and delivered their pitches to an esteemed panel of investors, industry leaders, and stakeholders.

Miguel Dumaraos, CEO of Zplatz, expressed deep gratitude for the program, highlighting the valuable knowledge gained from sessions that covered essential startup topics such as team building, customer development, business planning, product development, branding, marketing, sales strategies, taxation, intellectual property, fundraising, and pitching skills.

STARTUPISLAND.PH is an initiative of the Department of Trade and Industry (DTI) Region 7, designed to develop and nurture the tech startup ecosystem in Central Visayas. Launched in 2018, the program focuses on providing a platform for early-stage tech startups to gain mentorship, develop business models, and refine their products for market entry.

The program aims to boost local innovation, encourage entrepreneurship, and enable startups to scale regionally and globally. Each cohort undergoes a 9-module course, consisting of 14 weekly sessions filled with pitch exercises, fireside chats, and workshops. Participants learn critical aspects of startup development, from product creation and customer validation to branding, marketing, and fundraising.

Since its inception, STARTUPISLAND.PH has conducted 7 cohorts and graduated 57 startups, including this year’s 11 new graduates.

A crucial element of the success of STARTUPISLAND.PH is its partnership with The Company, a leading co-working space and community that has been a strong advocate of the startup ecosystem in Cebu. Through this collaboration, participating startups benefit from access to a dynamic working environment, alongside business services, network opportunities, and resources tailored to the needs of entrepreneurs.

The Company general manager Joy Garingo, congratulated all participants and emphasized that this graduation marks the beginning of a long entrepreneurial journey. She encouraged the founders to continue applying the lessons they have learned as they take on the challenges of scaling their venture

The Company also plays a key role in hosting workshops, mentoring sessions, and community-building events that have helped shape many of the region’s startup success stories.

DTI 7 Regional Director Maria Elena Arbon also announced this year’ Fiestartup, with a new opportunity for STARTUPISLAND.PH graduates titled “Mastering the Art of Startup Fundraising: Navigating Capital Strategies for Growth”.

Organized by The Independent Investor in collaboration with DOHE Gobi Quest and RGC, this Fiestartup 2024 workshop will provide an in-depth overview of fundraising essentials. Participants will explore different types of fundraising, gain insights into unit economics, and engage in a hands-on simulation to refine their pitch to investors. This session aims to equip startups with the knowledge to successfully navigate their first venture capital interaction and beyond.

In previous years, STARTUPISLAND.PH has held notable events, such as Fiestartup 2022, which brought together entrepreneurs and investors for discussions on tech expansion opportunities in Visayas-Mindanao, and Fiestartup 2023: Founder Fast Track Masterclass, further solidifying Cebu’s position as a dynamic hub for tech startups.

According to Dir. Arbon, with continuous support from DTI 7, The Company, and key ecosystem players, these startups are set to create lasting impacts, not just in the Central Visayas region but beyond. (DTI 7/PR) 4 ♦

Date of release: 24 October 2024

Share this:

Related posts: