NINE developer teams of mobile applications that pushed the capability of startups as solid business models won in the first Mobile App Venture Challenge (MAVC) in Cebu.
The apps, categorized under financial technology (fintech), e-commerce, leisure and gaming, and open class, were created by fourth year information technology and computer science university students.
“They had to demonstrate a number of different factors. So they had to talk about the product, the value proposition that they would deliver, the competitive analysis and the competitors, their target consumers, and some explanation of their technology, and an understanding of the app as a business model,” Chris Waller, co-founder of MAVC, told SunStar Cebu.
The nine teams were picked out of 70 and were chosen for demonstrating the functions of their various applications to potential employers and investors during the contest held at the Southwestern University last Saturday, Nov. 24.
The teams were from the University of Cebu (Banilad, Lapu-Lapu, Mandaue and Main campus), Cebu Institute of Technology–University (CIT-U), Asian College of Technology (ACT), Southwestern University (SWU) Phinma, University of San Jose-Recoletos (USJ-R) and the University of San Carlos (USC).
Waller said the goal of MAVC is for students to develop innovative applications and business models that could impact the local economy.
“Because the whole goal of the MAVC is to have students, not only develop innovative products but of products that are sustainable--in other words, that can make some money,” he said.
Chris’ brother, Scott, who co-founded the event, said they saw a positive sign for the local startup community.
“There were various stages of readiness, and we filtered the teams in the review cycle. There were 12 pretty solid ideas, and now, when you look at what’s happening in different communities, some of these ideas are right on par with what we might expect in some Western world communities, and we take that as a very encouraging piece. We look at the future of the Philippines and the role of MAVC in the future as being extremely positive,” he said.
The winning team for each category brought home a cash prize of P150,000; P50,000 for second place; and P25,000 for the third place.
Under the category of Fintech or e-commerce, Abang, an app for hassle-free vehicle rental by the Team Abang from UC-Banilad, won the first prize. SmartTech, a booking service app for computer repairs between customers and technicians by CyberTech from the ACT won second, and the third prize went to e-Recipta, a paperless receipt app by Team RKN from UC-Lapu Lapu.
For the leisure and gaming products, the first prize was won by TutorO, a tutoring service app by Team Rapid of SWU-Phinma. In second place was Battle of Words, a multi-player word and strategy game by Team Muuschi Dev. The third prize went to Ani, an e-learning app about animal awareness for four- to 11-year-olds by Team Toro of CITU.
In the category of Open Class, BeneFit, an app for runners, running and races by Team Can of CIT-U won the first prize. The second prize was bagged by Scorter, an app for electronic travel aid by MJM Innovators from UC-Lapu Lapu. The third prize went to Gearz, an app for motorcycle security by Gearz of USC. The winning teams also received an all-expense paid trips Manila to visit the Department of Science and Technology’s (DOST) Innovation Center.
MAVC was organized by Cebu IT-BPM Organization, in partnership with the Department of Trade and Industry (DTI)-Cebu, Department of Information and Communications Technology, DOST, and the Philippine Council for Industry, Energy and Emerging Technology Research and Development.