THE Department of Trade and Industry (DTI) officially announced the stellar lineup of startups and enterprises for the Incubation, Development, and Entrepreneurial Assistance (Idea) and Accelerating Development, Valuation, and Corporate Entrepreneurship (ADVanCE) for Creatives programs on February 19, 2024 at the Launchgarage Innovation Hub, Quezon City.
These two transformative programs, aligned with the Innovative Startup Act (ISA) and the Philippine Creative Industries Development Act (PCIDA), were formally introduced to the public last December 5, 2023 as the Marikina Creative and Innovation Hub's pilot initiatives to elevate the entrepreneurial landscape for early-stage and growth-stage creative startups and enterprises.
With the infusion of creatives and innovation, these programs promise to usher in a new era for the Philippine creative and innovation landscape, fostering development and progress in the country.
DTI Bureau of Industry Planning and Innovation (DTI-BIPI) Director Lilian Salonga supported this vision as she congratulated the cohort and emphasized, "let the IDEA and ADVanCE for Creatives Programs be the catalysts that propel us into a future where we champion innovation that inspires, breaking the barriers of creativity."
Call for applications ran from December 23, 2023 to February 11, 2024, gathering promising startups and enterprises across the nine creative domains defined by the PCIDA. Applicants were evaluated based on Innovativeness, Sustainability and Viability/Scalability, Relevance, Impact, and Team Composition.
Ultimately, these 10 early-stage startups and enterprises were selected for the Idea for Creatives Program to improve their entrepreneurial capacity and readiness with their 2 | Page game-changing ventures: Wika, 7x7 Development Corporation, MVRK Simulations, Pamitisan Shoe Shop, Transcend Studios Inc., Kwentoon, Carisle Media Corporation, Produkto PH, Denim N' Denim, and Brave Story.
Another equally impressive eight growth-stage startups and enterprises secured their spots in the ADVanCE for Creatives Program, which will focus on enhancing their capacity, scalability, and competitiveness: AniMattify, Bihasa, KikoMonster Creative Studio, Daihashi International Group Inc., Pinch Digital, ROC PH, BurketPH Inc., and Bentamo.
These startups are set to receive training assistance through a series of learning workshops, mentorships from renowned industry experts, feedback and assessment, customized acceleration programs, and more. The whole program will culminate through a Demo Day, which is slated to be held next month. (PR)