Synthillate’s ‘IP bank’ wins big in EU-funded young entrepreneurs program

MANILA  -An intellectual property bank, an agritech solutions firm and the maker of a mobile application for children with language disabilities won the second leg of the pitching competition funded by the European Union (EU) and implemented by the Philippine government.

The winners of the ARISE Plus Philippines Young Entrepreneurs (YE!) Boost Accelerator were announced during the grand finale in Manila after a 14-week program that brought together 88 participants from the local start-up ecosystem.

Synthillate, touted as Asia’s first “intellectual property bank” which allows users to convert intellectual properties into financial assets, won the top spot.

Taking the second spot is Sakahon, an agriculture technology company which simplifies supply chain in agriculture and creates inclusive producer-market business relationships by enabling farmers to know what the market needs 3 to 6 months ahead of time using data management.

Pic-A-Talk, a mobile application for children with speech and language impairments providing assistance through a picture exchange communication system, finished in third place.

The winners received cash prizes worth a total of $5,000, as well as recognition of their innovation as young entrepreneurs.

“I would like to congratulate the ITC and QBO for yet another successful implementation of this remarkable initiative. This event presents a valuable opportunity to network and underscore the unwavering commitment of both the public and private sectors to foster youth-led entrepreneurship,” Trade Undersecretary Rafaelita M. Aldaba, who heads the DTI’s Competitiveness and Innovation Group (CIG), said in a statement.

The ARISE Plus Philippines is a joint project implemented by several Philippine government agencies, with the DTI as the lead with partners including the Department of Agriculture (DA), the Food and Drug Administration (FDA), Bureau of Customs (BOC), and the Department of Science and Technology (DOST).