The Department of Trade and Industry (DTI) and the Iloilo Science and Technology University (ISAT U) will collaborate to assist three startups from Western Visayas who won the Online Slingshot Region 6 2021 (OSR6-21) Moonshot Trabaho, Negosyo, Konsyumer (TNK) Pitching Competition.
“ISAT University, which is our cooperator for the Fabrication Laboratory (FabLab), has a technology business incubator (TBI Kwadra) that allows startups to refine business ideas,” DTI Regional Director Rebecca Rascon said in an interview Tuesday.
Rascon said they are yet to formally launch their partnership and spell out the terms for the provision of assistance.
The Plantsville Health, Ayo Tech Corporation, and IF Green Technologies, all from Negros Occidental, emerged as the top three winners from out of the 23 startups that submitted their business solutions and passed through three stages of the selection process.
The competition has provided a venue for startups to pitch business solutions in responding to issues on education, poverty, environment and health, she added.
Plantsville Health is a social enterprise which integrates conserving Philippine cinnamon and health food/non-food processing to make the livelihood of small farmers, resellers, and the enterprise sustainable in the face of climate change, as well as ensure consumer health.
Ayo Tech Corporation is an advanced wound care management company using negative pressure wound therapy. It has already developed the product to 95 percent, and its full functionality is tested and used in hospitals.
IF Green Technologies, on the other hand, is an urban farming company specializing in aquaponics and hydroponics systems. It focuses on demonstrating aquaponics/hydroponics as a means for sustainable food production in homes, schools, communities or as a profitable farm business.
“FabLab will be helping this business incubatee. They will provide a space and will be given mentorship or coaching until their business ideas are refined and ready for commercialization,” she added.
Rascon said the incubation period usually takes two years.
The three startups can be provided assistance up to or within two years depending on the maturity of their business solutions.
The three winning startups were announced during the Online Slingshot Region 6 2021 (OSR6-21) held on September 28-29.
Meanwhile, Rascon said that based on the outcome of the competition, there are a “lot of very promising business ideas” in the region given the chance and adequate coaching and financial support.
“I think Region 6 is well prepared for innovation. Because of these initiatives, with the support and coordination with other agencies, we are now included in the third batch of the Regional Inclusive Innovation Center (RIIC),” she added.
Source: Philippines News Agency
