Startups get a leg up through Fintech Call 2015
Braving the Philippines’ startup ecosystem, Singapore’s leading venture accelerator, The Co-Foundry, has kick-started a strategic partnership with global technology accelerator Plug and Play, Manila-based incubator LaunchGarage, global foreign exchange platform OANDA, and Singapore boutique venture capital firm BlueHill Asset Management.
The Fintech Call 2015 aims to plug promising Filipino startups into the technology and industry ecosystem through a highly flexible acceleration program in Singapore and Silicon Valley in California.
“The Philippines is a critical and strategic market for startups seeking their foothold in Southeast Asia. Many of the solutions brought by our startups are also extremely relevant and beneficial to Filipinos. We are very excited to connect families,” said The Co-Foundry founder Michael Yap during the launch of the partnership on June 2 in Makati City.
Startups that succeed in the six- to twelve-month acceleration program will receive $50,000-$250,000 in pre-seed funding, and $250K-$1M for seed funding.
The pitching program is looking for startups that provide innovative solutions on payments and transactions, mobile or retail banking, trading, commodities markets, P2P lending & crowdfunding, risk and compliance, security and privacy, digital and alternative currencies, digital wallets, financial advisory services, and insurance.
The online application deadline is on June 30.
Fintech is comprised of businesses that make use of technology to make financial systems more efficient.
Also, five of The Co-Foundry’s enterprise solutions provider and consumer-driven portfolio startups were also launched during the event.
Taidii—pronounced “teddy”—is a leading provider of preschool management solutions in Singapore and China. It provides constant parent-child engagement through its sensing and communication technology that sends instantaneous data such as a child’s school attendance and performance. The parent receives the data via a mobile app.
Also, a robotic device called “Vitals and Attendance Monitoring System” tracks a child’s vital signs and temperature through thermal scanners in schools.
“Taidii believes that by imparting best practices in preschool management to school owners and teachers in the Philippines, we can help reduce inefficiencies, foster relationships between parents and the school, and focus on providing better care for the children. Moreover, the benefits of using Taidii’s solutions are aligned with the core values of the Filipinos, which is enabling a healthier and more interactive way of communication,” said Taidii CEO Wang Bin.
Currently, there are five schools in Metro Manila that have availed of Taidii. The system costs P90,000 and is covered by a two-year renewable contract.
Another product, Nana, is a sleep and vital signs monitor, that turns a mattress into a smart bed.
With a thin, contactless sensor mat that may be slipped under a child’s mattress, parents can discreetly monitor their kid’s breathing, heart rate, sleep patterns, and environment via their smartphones.
“It provides a 360-degree view of the child’s care and wellbeing,” said Nana founder Mah Chern Wern.
The product is also designed for overseas Filipino workers (OFW), enabling them to watch over their kids from thousands of miles away.
ReadySales, an intelligent sales automation and customer relationship management (CRM) app; and Matchimi, a causal job search mobile application, facilitate people’s work schedules, giving them more precious time to spend with their families.
Then there’s “Guuud,” a web and mobile platform that enables constant, real-time monitoring of an array of interests, from events and celebrity gossips to product deals. It promotes a smarter, more convenient way to shop.
Currently, Plug and Play has accelerated more than 2,000 startups. It has raised $3.5 billion since it was founded in 2006.
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