We aim to support social entrepreneurs drive growth for their businesses without losing sight of their impact. Through the Social Impact Accelerator, we provide highly scalable social entrepreneurs access to markets, talents, capital, and guidance.
We're looking for ventures that are impact-driven at its core, offering innovative solutions to our country’s most pressing challenges and the 17 SDGs. Social enterprises must have a clear business strategy and execution plan anchored on its desired impact targets.
Potential for Scale
Social enterprises must be able to show proof and integrate plans of innovative use or application of technologies to drive growth. They must have at least a minimum viable product or an early product demonstrating its core innovation.
Validated Business Model
Social enterprises must have achieved proof of concept, with a validated business model and some form of traction or revenue. B2B startups, must have undergone product-market validation by at least 2 confirmed clients, letter of intents, POC’s or booked sales. B2C startups must have annual revenues of at least USD 10,000.
The company must already be legally registered as a corporation under the Securities and Exchange Commission (SEC). If the business is currently registered under DTI, the company must agree to convert into corporation within the program duration. The company must have at least one year of operations.
To qualify, the startup must meet the following entry qualifications:
Social Impact and Relevance to the Sustainable Development Goals (SDGs). The SE must possess and demonstrate inclusive and innovative solutions to pressing domestic needs and the promotion of any of the SDGs. The SE must clearly present a business strategy and execution plan anchored on its desired impact targets, and adopt innovations and technologies into its core business and operations.
Potential for Scale and Differentiation. SE must be able to show proof and integrate plans of innovative use or application of technologies to drive growth. They must have at least a minimum viable product or an early product demonstrating its core innovation.
Validated Business Model with Some Revenue or Traction
B2B: Have undergone product-market validation by at least two (2) confirmed clients, letters of intent, Proof-of-concept deployments or booked sales.
B2C: Annual revenues of at least five hundred thousand pesos (Php 500,000).
Established Operations. The SE must already be legally registered as a corporation under the Securities and Exchange Commission (SEC). If the business is currently registered under Department of Trade and Industry (DTI), the SE must agree to convert into corporation within the PROGRAM duration. The SE must have at least one (1) year of operations from incorporation date.
2. Founders and Management Team
Full-time Commitment. The team’s application must be composed of at least two (2) full-time to a maximum of five (5) members composed of at least one (1) co-founder and one (1) senior member of the management team. At least one (1) full-time member must have rigorous product or technical expertise and at least one (1) full-time member must have market and business development expertise. Its CEO must be a full-time member. Founders are defined to be the entrepreneurs or the members of the group who takes the initiative to set up the venture, have active interest in the company and with at least 10% ownership of the company. Full time commitment requires minimum of 40 hours per week spent on the startup.
Deep Insights. The founders and the management team must show proof of engagement of the SE with its beneficiaries or customers and possess a deep understanding of their needs.
Ability to Execute. The founders and the management team must demonstrate ability and persistence to build and develop strong teams, products and successful business.
PhilDev Labs will provide the following:
Tailored program and mentorship support from business leaders, entrepreneurs, and investors.
Strong network support and business matching. PhilDev will provide tech knowledge and direct connection to Silicon Valley.
Impact measurement resources, tools, and training.
Investor roundtables and demo day.
Free legal and management advisory services.
Free use of co-working space and facilities.
Problem definition and impact with regard to the SDGs
How widespread is the problem being addressed and how crucial is it for the customers to solve the problem? Does the need exist in a big market?
Scalability of the solution
Does the SE currently adopt any useful technologies (electronic or non-electronic) or innovations that could help drive scalability and differentiation (i.e. e-commerce platforms, mobile payments solutions, innovations in supply chain and distribution, etc) in order to increase its impact? Does the SE possess the ability to bring their innovations to scale in order to quickly solve development problems, especially those related to the SDGs?
Quality of the team
Does the startup have topnotch technical and management team able to grow and scale the startup? Does the founder possess deep insights and understanding of the core problem being addressed and proven ability to execute? Does the SE’s leadership demonstrate their commitment to the enterprise’s mission? Is the leadership’s track record compelling evidence of their commitment to the SE and their mission?
Uniqueness of the solution
Does the startup offer a solution that creates benefits that were not possible before? Does the startup offer a change in cost structure and/or revenue model to create a unique advantage? Can the technology be protected and defended through intellectual property?
Does the startup have enough runway and resources to execute on their plans and vision? Will the startup be capable of raising funding within the next six to twelve months? Does the SE’s business model clearly show a path towards financial sustainability?
Application is now open!
To get a quick feedback from our PhilDev Labs team, check our Upcoming Events on roadshows and conferences.
Applications will be vetted though our multi-stage selection process that involves document reviews, initial calls and in-person interviews starting in July 2018.