Three promising start-ups won the unique opportunity to bring their innovative business ideas into reality. The three finalists—namely SkyEye, Wave, and Food Planners Inc.—were awarded initial prizes amounting to P200,000 each, entering into the three months Cohort phase of the Impact Hub Fellowship on Innovation in Mobility with LBC. They receive seed funding, coaching and mentoring, skill development, inspiring coworkspace, and access to 73 international Impact Hubs with 12,000 members worldwide. All this, without giving away equity.
“We truly believe in innovation and the aspiring entrepreneurs and thus created this incubation program together with LBC” explains LizAn Kuster.
At the awarding ceremony held at Impact Hub Manila, 11 finalists presented their business propositions to a reputable panel of experienced industry practitioners and executives.
The jury was composed of Fernando Araneta (Chief Strategy Officer and Innovation of LBC Express), Javier Mantecon (Chief Marketing Officer of LBC Express), Rajan Uttamchandani (CEO of Esquire Financing Inc.), Julia Nebrija (World Bank Consultant and Chair of Inclusive Mobility Network), Joselito Annonuevo (Chief Digital Officer, LBCX), and Mathias Jaeggi (Co-Founder, Impact Hub Manila).
“As a company that prides itself in continuously seeking ways to transform the industry and pioneer new ways, we wanted to be part of an initiative that will cultivate ingenuity and help participants focus it into something tangible. We are glad to have found these three ambitious enterprises” says Dino G. Araneta, Chief Strategy Officer.
The winning teams exemplify the diverse scope of potential innovations in mobility, and they are:
- SkyEye Inc. – Realizing a deficiency in the real estate market, with at least 12 million parcels of untitled land, and unnecessarily long and gruelling acquisition and transactional processes, the team at SkyEye provide customers an efficient alternative to comprehensively survey various land and properties with the help of customized drone technology as well as detailed mapping software.
- Wave – A welcome addition to the growing sharing economy, Wave is a community-based ridesharing service with a polished strategy targeting residential communities and the urban professionals seeking even more affordable options for their daily commute.
- Food Planner – A post-harvest food processing initiative that focuses on farmers, who lack access to the mainstream commercial market. By targeting the foundation of the agricultural supply chain, they are attempting to optimize value chain management by directly connecting the raw material suppliers (farmers) to their end clients (markets, wholesalers, restaurants, and more).
The rest of the finalists, which represent the top ideas chosen from numerous brilliant submissions, included: Urban Cable Car, Bisikleta Kooperatiba, City Smart, MekanikoMo, Biker X, Nyfti, Axis Precision 3D, and Urban Link.
Launched back in October, the Fellowship program is the first collaboration between the country’s leading express delivery service provider, LBC, and Impact Hub Manila—the latest local branch of a global network of innovators, entrepreneurs, techies and creatives. With a common objective for positive social and environmental change, the partnership naturally focused on one of the most pressing concerns: Mobility and Logistics.
With increasingly congested byways and thoroughfares in the metro, inadequate transportation infrastructure, and limited available alternatives, it has become impossible to overlook the public’s outcry.
After the intensive three-month Cohort phase, one team will emerge by end of March 2016 as the winning Impact Hub Fellow. The chosen fellow will then receive additional P250,000 seed funding as well as other additional start-up support worth over P500,000. The winning start-up will continue to develop, grow, and scale its business along with LBC and Impact Hub Manila.
*Written by Gio Dion
The Fellowship will be executed in three phases:
PHASE 1: CAMPAIGN & APPLICATION, October and November, 2015
During this phase, we invited everyone interested to benefit from an ideation workshop and business plan writing. From all applications received, up to 11 candidates were invited to a pitching workshop, to prepare them for the awarding ceremony. Three finalists are entered the cohort phase.
PHASE 2: COHORT
The cohort phase is an intensive 3-month acceleration phase, targeting the development of a full-fledged business model and/or prototype, as well as other key competences and start-up skills. Furthermore, finalists gain access to a personal coach, valuable networks, and a stimulating workspace at Impact Hub Manila. At the end of this phase, the Impact Hub Fellow will be selected, who will then enter the Incubation phase.
PHASE 3: INCUBATION
The goal for the Fellow during the 9-month Incubation phase is to build a management team, found a legal entity, develop/test a prototype and/or enter the market, and secure additional funding as well as customer contacts. During this phase, the Fellow receives significant seed funding as well as connections to peer entrepreneurs, mentors, and other beneficial contacts. These relationships, combined with focused skill development and access to a vibrant community of change-makers in an inspiring work atmosphere, will help facilitate the start-up of a thriving social business.
About Impact Hub Manila
Impact Hub Manila is an incubator, coworking and events space for a membership community of entrepreneurs, activists, creatives, and professionals taking action to drive positive social and environmental change. Since their opening on June 1, 2015 they welcomed more than 3000 innovators, held over 50 events and count 130+ Hubbers. With 12,000+ members in 73+ Impact Hubs across the world and 30 in the making, the Impact Hub Network has become the center of gravity for people innovating a new kind of economy. Locally rooted and globally connected. Now, they are taking the next step to foster sustainable innovation and empower entrepreneurs. The Fellowship in Innovation in Mobility with LBC will be the first in a series of annual innovation and incubation programs.
Visit us on www.impacthub.ph and follow Impact Hub Manila (Facebook, Twitter and Youtube).
Impact Hub Manila, 5th Floor Green Sun, 2285 Chino Roces Avenue Extension, 1231 Makati, Philippines
For more information on the Fellowship and Impact Hub, please contact LizAn Kuster, email@example.com, +63 915 431 04 54
About LBC Express
LBC Express, Inc. is the Philippines’ market leader in payments, remittance, courier products, mail, parcels and, cargo logistics. Through a global presence in over 30 countries in Asia-Pacific, North America, the Middle East and Europe, LBC Express’ network of 4,400 locations, partners, and agents is growing steadily, and commits to moving lives, businesses, and communities in the Philippines and across the globe. Founded in 1945 as a brokerage and air cargo agent, LBC Express pioneered time-sensitive cargo delivery and 24-hour door-to-door delivery in the Philippines. Today, it is the most admired and trusted courier, cargo, and remittance service of millions of Filipinos, an iconic and global Filipino brand. LBC can move it for you: visit us at www.lbcexpress.com, or call telephone +632 8585 999 (Metro Manila), 1 800 10 8585 999 (Provincial), and follow LBCExpress (Facebook and Twitter).
For more information on LBC, please visit http://www.lbcexpress.com; or call the following hotlines: 8585-999 (Metro Manila), 1-800-10-8585-999 (Provincial).