Cerebro Labs, a tech business incubator and accelerator in Makati, Philippines has opened a startup challenge for pre-seed and early-stage startups, in an effort to discover promising enterprises with innovative ideas.
The contest is open to early-stage startups that have not received any seed funding previously, with a focus on technology-driven startups with creative ideas that can benefit the society.
Cerebro Labs, in particular is looking for startups related to banking and fintech, agritech, gaming and AR/VR, smart data artificial intelligence, IoT and wearables, healthcare, e-commerce, and transportation.
Selected startups will receive up to PHP2 million (about US$38,600) worth of support services, including free co-working space, training, and access to Cerebro’s network of local and international investors, as well as corporate partners.
Winners of the challenge will get up to PHP 500K (approximately US$10K) in seed funding.
There are many social problems in the Philippines, and these challenges can actually pose and serve as a problem-solving opportunities for entrepreneurs.
“Filipinos are innately creative and yet there is a lack of opportunities for the youth. Our mission is to bridge the gap between creativity and opportunity in the country,” said Cerebro Labs Planning and Innovation Director, May Quizan.
Deadline for the contest is set at March 23 and interested startups can sign up is at bit.ly/joincerebro.
“Our full-time team has diverse expertise – engineering, law, finance, marketing and so on. They were also trained and immersed in Silicon Valley. Our team will not just help you launch your startup, but will also guide you as you grow and succeed,” Quizan said.
This news is published on Reuters.