STAC announces winners of business plan searchINQUIRER.net US Bureau
PALO ALTO, California—The Science & Technology Advisory Council (STAC) declared Nextix (GroupJump and Mii Move), Payroll Hero and SpellDial as the winners of the 2012 ON3, a nationwide business plan search for emerging technology companies in the Philippines.
The winners get the grand prize–a three month immersion package provided by ON3’s Platinum sponsor Plug and Play Tech Center in Sunnyvale, California.
Plug and Play Tech Center is a thriving Silicon Valley global accelerator that hosts a community of over 300 startups from all over the world. It speeds up the growth of its startups via strategic partnerships, including 170 investors who participate in regular screening sessions exclusive to Plug and Play members.
The following won the immersion with Plug and Play:
Nextix Groupjump is a social and mobile e-group networking site that allows to fully control and manage the security and privacy of their virtual social groups. Groupjump can easily be accessed through the web and mobile devices.
Nextix’s MiiMove is an app that allows seamless real-time coaching and interaction between students and coaches around the world for improving and mastering any sport. Its platform enables users to engage the services of professional coaches from anywhere in the world.
PayrollHero is a cloud-based Consumer-friendly time, Attendance, scheduling and payroll app for web and mobile. Spelldial is an app that allows customers to remember names not numbers. Its platform enables users, merchants and brands to stay connected whenever, wherever.
“As a judge during the regionals in Manila, I am confident that the entrepreneurial ecosystem for the Philippines is headed toward success,” says Saeed Amidi, CEO of Plug and Play.
The Philippine departments of Science & Technology, Trade & Industry and Foreign Affairs work with STAC-Silicon Valley to provide opportunities to support efforts of local entrepreneurs, scientists and graduate students with attractive global business models.
The ON3 competition has a unique format. It takes place twice a year in the Philippines beginning with the regional competitions There are two competitions in Luzon, to enable participants from the northern and southern provinces to participate, one in the Visayas and one in Mindanao.
The path of the 2012 ON3 finalists started a year ago in April when each company presented three-minute pitches to a panel of judges during one of the four regional competitions held in Davao, Cebu, Pangasinan and Manila.
“The judges during the coaching sessions challenged us each time to justify our technology, target market, and team.” says Bobby Suson, Founder of GroupJump. “We used their feedback to finalize our presentation for competition day and we have been looking forward to the 2012 announcement.”
The best performers of the regional leg compete in the final round where they are judged by a panel of angel investors, venture capitalists and professionals for their pitch performance. The shortlist of companies are then required to demonstrate ability to execute their business model over a period of three months and submit monthly reports.
Companies that are able to execute and achieve milestones are then considered for the grand prize of a three-month immersion package provided by ON3’s Platinum sponsor Plug and Play Tech Center in Sunnyvale, California.
To help facilitate their immersion, ON3 2012 winners will be supported in part through a grant from the Department of Science and Technology, to help offset living expenses during the three-month stay in Silicon Valley.
The Department of Trade and Industry and the Department of Foreign Affairs have championed the cross-border partnership with STAC-Silicon Valley and its ON3 program. Novare Technologies, SMART Communications and Globe Telecom have led in providing private sector support.
The STAC-SV is a 501c3 non-profit organization that serves as an advisor to the Philippine Government in the to promote entrepreneurship, support R&D investments by DOST and foster innovation.