10 startups get boost from accelerator program

Photograph courtesy of globe Representatives of ten local startup companies are set to unlock the next growth and scale stage after recently receiving venture capitalists’ mentorship from 917 Ventures and 500 Global.

Ten upcoming startups gained invaluable knowledge to upscale operations and unlock the next growth stage after completing a 10-week accelerator program from 917Ventures in partnership with global venture capital firm and 500 Global.

The 10 participants are Capitan, Carsada, EdVenture, FundSpace, Housify, KodeGo, MemoApp, PIE, Rappit and RUSH.

“The 500 Global Accelerator Program has been a huge success, providing our startups with valuable feedback, new partnerships, and a wealth of knowledge to take their businesses to the next level. We are confident that they will continue to grow and thrive in the future, and we cannot wait to see what they will accomplish next,” said Vince Yamat, Managing Director of 917Ventures.

The program aimed to replicate the successful accelerator experience of Silicon Valley startups by tapping into 500 Global’s expertise, resources and capacity to support high -potential businesses and expand their opportunities beyond the Philippines.

Through the partnership, 917Ventures provided its startups access to 500 Global’s extensive network of mentors, corporate partners, alumni and proprietary accelerator curriculum and resources.
The participants underwent over 10,000 learning hours, tapping into the expertise and experience of global startup founders via exclusive sharing sessions. They also got the chance to have one-on-one sessions with mentors to get personalized feedback and guidance on their specific business challenges.

Ee Ling Lim, executive director of Market Launch at 500 Global, also shared her excitement about the program results. “Our partnership with 917Ventures has been a fantastic opportunity to support and guide these startups on their journey to success. We are proud to have been a part of their growth and look forward to seeing the impact they will have in the years to come,” she said.

Through the program, Capitan received valuable client feedback and testimonials and gained a new partnership idea to be rolled out soon.

One-stop used car shop Carsada conducted weekly customer discovery sessions, which provided the basis for its sales strategies. At the same time, online tutorial services EdVenture gained insights about customer discovery, identifying pain points and measuring the right metrics.

Business loan provider FundSpace received information on product-market fit and applied frameworks on customer profiles and customer journeys. Housify conducted weekly customer discovery sessions, which provided the basis for sales and supply acquisition strategies, and gained two sale offers by applying customer insights.

Coding boot camp KodeGo was able to pivot and find product market fit for 2023 and streamline sound and practical, tactical projects. Template-based memo system MemoApp received essential frameworks on customer discovery, product development, and sales to monetize this quarter and develop its freemium model.

New revolutionary TV and digital channel Pinoy Interactive Entertainment gained valuable learnings that helped it focus and simplify its overall approach and mindset to the business.

Online grocery store Rappit identified critical points for customer conversion, retention, and churn, reviewed current communications design, and restructured scheduling, creatives, and overall messaging.

End-to-end e-commerce platform provider RUSH found the program to be a significant refresh and reminder of the importance of fundamentals they tend to overlook in their day-to-day activities. It also released product enhancements that increased order success rate and fulfillment speed.

With 12 portfolio companies since 2019 and more ventures in the pipeline, 917Ventures remains the country’s most prominent corporate venture builder, generating startups from concept and development to growth and expansion.

Read more Daily Tribune stories at: https://tribune.net.ph/

Follow us on social media
Facebook: @tribunephl
Youtube: TribuneNow
Twitter: @tribunephl
Instagram: @tribunephl
TikTok: @dailytribuneofficial