MANILA, Philippines - A unit of Ayala-controlled Globe Telecom Inc. has invested in 10 startup companies focusing on digital technology that is set to boost traditional sectors such as education, legal profession, and retail.
Kickstart Ventures Inc. president Minette Navarrete said in a statement that the first batch of portfolio companies would receive funding, training, mentoring, and business network access to help accelerate their respective growth plans.
“By making these investments, we literally put our money where our mouth is: Providing startup capital, as well as organizing training programs, regular mentorship, and business introductions to bring startups and progressive corporates together,†Navarette stressed.
She said the 10 startups focusing on digital technology businesses reflect Kickstart’s preference for infra-light web and mobile software, applications and/or services.
The company has invested in AVA (www.AVA.ph), a premiere online shopping site for well-loved brands and experiences; Kalibrr (www.kalibrr.com) which offers online learning that gets one a job; ZAP (www.ZAP.com.ph), a web and mobile retail promotions and loyalty program for brick-and-mortar merchants; Lifebit (www.lifebit.com), a web and mobile journal for urbanites; and Tripid (www.tripid.ph) a carpooling platform and community.
Kickstart Ventures also invested in Bagosphere (www.bagosphere.com) which runs a training program for rural youth aspiring to get hired by BPOs that often locate in provincial cities to take advantage of real estate availability and affordability; Apptivate (www.apptivate.co), an apps purchase service for non-credit card owners; Work Inspire (www.workinspire.com), an email and document organization system for better project management; Tripsiders (www.tripsiders.com), a Cebu-based local itinerary creation and booking engine with insider community content; and My Legal Whiz (www.mylegalwhiz.com), a web and mobile resource for legal research.
“The Philippines is showing a new economic dynamism, attention to governance, and clarity about how the public and private sectors can drive things forward. Kickstart is taking concrete action to make these fundamentals a launchpad for greater innovation at the grassroots community level,†Navarette said.
The company would invest through “Kickstars†which are startups funded by Kickstart, and “Garageheads†which refers to participants in the Launchgarage accelerator program -- a partnership between Kickstart and web engineering firm Proudcloud.
Kickstars and Garageheads receive funding, mentoring, training, access to the resources of Kickstart and its mother company, GlobeTelecom, as well as business introductions as support from Kickstart.
Kickstart has also partnered with various organizations to give the investees a headstart. Globe provides each investee with P2 million mobile ad credits as well as GCASH integration; Amazon Web Services grants them with $1,000 credits and technical training to optimize their performance; and ZenDesk makes available free Customer Service support for 12 months worth $3,450.
Navarrete envisions a faster start and a better trajectory for the portfolio companies.