What is PhilDev Labs | Social Impact Accelerator?
The PhilDev Labs | Social Impact Accelerator provides Filipino social enterprises with a year of tailored support, six months of which is an intensive program, to seek investments and scale their innovations. The accelerator helps lead companies with validated business models (with proof of revenue or market traction) and at least a year of operations into growth through a dedicated program and guided mentorship to accelerate traction and revenue and secure financing.
What happens during the program?
Aside from providing network and mentorship support, PhilDev Labs will also provide a social development development program support through formal lectures, focused classes, informal learning sessions, networking mixers/socials, and/or intense one-on-one mentorship. Topics ranging from company building, opportunity identification, and effective communication will be held during the first two months of the accelerator to provide the SEs ample time to refine their business plans and annual operating plans, among others. This is vital especially for ventures aiming to transition from product-market fit to early growth-- a stage that requires the SE to establish, refine and strengthen existing systems, processes and governance measures. Our program will also provide SEs with mentorship and guidance focused on effective social impact monitoring and evaluation, ensuring that the systems and structures are in place as the SE grows its operations and positive social contributions.
SEs will be prepared and assisted to access a modest seed loan through another funding mechanism to help sustain themselves through the few months of focused growth. The program intends to graduate SEs that are pre- or ‘Series A’ investment-ready ventures that can qualify for support from the loan of the partner banks or from impact investment financing external to PhilDev Labs.
Once admitted into the program, the SEs will be provided with the requisite network, community, and mentoring program support to help them achieve their funding, product, and growth targets. Selected social enterprises will get the following: a) tailored world-class mentorship from tech & business leaders, entrepreneurs, and investors; b) network support and business matching; c) impact measurement resources, tools, and training; d) investor roundtables and demo day; e) free legal services and management advisory services, and; free use of co-working space and facilities.
Who are your confirmed mentors?
Jones Castro, Jr. Jennie Alcabao, Eric Tomacruz, Denny Roja, Danilo Lopez, Eric Manlunas and more!
Are there any application or program fees?
Lucky for you, no. We will provide you with dedicated support, a coworking space, world-class mentorship, and access to our global network of funders and partners without any cost.
Will you provide funding?
No, we will not be providing any funding to the startups in the program. We will however, provide you with support to be investment-ready by the end of the program and schedule opportunities to meet with investors and banks.
Do I need to have a traction or revenues to apply?
Yes, we require applicant startups to have been in operation for at least 1 year and have at least USD 10,000 in annual revenues.
Is the program only open to social enterprises?
While the program aims to accelerate tech-based social enterprises, we are open to welcoming tech startups who are interested to innovate and pivot their business models to become more inclusive in approach, resulting in positive impact.
What type of teams is PhilDev Labs looking for?
We’re looking for teams composed of at least two full-time founders. At least one founder must have technical expertise in science and/or engineering and at least one founder must have market and business development expertise. The CEO must be working for the start-up full-time.
What is Inclusive Innovation?
Inclusive Innovation is the development of new technologies enabling affordable access to systems, products, or services and creating livelihood opportunities for the base of the pyramid. Inclusive innovations balance financial and social return for the entrepreneur, while creating long-lasting, sustainable impact to often-excluded groups living on the lowest of incomes.
What activities will you be running during the program?
See Upcoming Events.
Do I get free legal support from PhilDev Labs?
We are fortunate to have partnered with TrustLaw for free legal support for startups participating in the Social Impact Accelerator.
What are the Sustainable Development Goals?
From the UNDP, “the Sustainable Development Goals are a universal call to action to end poverty, protect the planet, and ensure that all people enjoy peace and prosperity”.
I'm looking to explore partnership opportunities with PhilDev Labs.
Great! We believe in the value of community and collaboration and we’re always looking for ways to bring value to our startups. We’d be happy to discuss with you possible partnership opportunities within PhilDev Labs. Please contact firstname.lastname@example.org.