PhilDev Foundation and FactSet celebrate the success of the inaugural Young Banatao Learning Lab (YBLL) Ideathon Shaping the Future of Tech

Taguig City, April 19 – PhilDev Foundation, in partnership with FactSet, successfully concluded the Young Banatao Learning Lab (YBLL) through the Ideathon held last 17 to 19 April 2024. This Ideathon event is a pivotal milestone in the YBLL program as it immerses the participants with tech-based problem resolution skills alongside entrepreneurial thinking through workshops, panel discussions, and pitch deck development. The Ideathon not only equips scholars with essential skills but also instills the confidence to drive meaningful innovation, positioning them as leaders in the field of technopreneurship.

The YBLL Ideathon brought 26 talented students together for a culminating task that challenged them to make low-fidelity prototypes with the aim of solving development-focused challenges in the Philippines. This year’s focus, “How might we address food insecurity and hunger through data-driven solutions?,” led to new ways to help with food shortage and hunger using data.

Mr. Jomar Fleras, the Executive Director of Rise Against Hunger, was invited as a panelist to help solidify the context and background of this Ideathon’s focus. He says, “According to the Food and Agriculture Organization, food security exists when all people at all times have physical, social, and economic access to sufficient, safe, and nutritious food which meets their dietary needs and food preferences for an active and healthy life. And based on this definition, about 60% of Filipino households are food insecure, so that relates to about roughly 70 million Filipinos. About 70 million do not meet the standards of food security.”

Deep Learning Before the YBLL

Prior to the Ideathon, from October 2023 to April 2024, the YBLL participants took part in 12 interactive technopreneurship and tech workforce development workshops guided by successful startup founders, and expert speakers from PhilDev Foundation and FactSet. These workshops focused on key topics ranging from identifying root causes of possible risks, to crafting compelling pitch desks all with the goal to equip the students with the necessary skills to execute innovative tech solutions.

In addition to these workshops, the YBLL program also featured a Leadership for Impact and Innovation Camp, and tailor-fitted mentorship sessions to further develop the scholars’ abilities, and skills preparing them to emerge as future technopreneurship innovators.

In addition to these workshops, the YBLL program also featured a Leadership for Impact and Innovation Camp and an ongoing mentorship, receiving guidance and insights from industry leaders at FactSet. These activities are instrumental in developing the scholars’ abilities, and skills preparing them to emerge as future technopreneurship innovators.

“You’re here to think outside the box and come up with solutions that are not just new but useful and right for what the tech world needs now. You’re going to build new stuff that looks ahead to what people will need and how things might change. You’ll get to try your hand at being convincing and strong at selling your ideas, which you’ll need in business and in life”, says Engr. Elaine Macatangay-Morales, Executive Director for PhilDev Foundation.

Ideathon Highlights and Achievements

The Ideathon presented notable speakers from diverse technology sector leaders ranging from artificial intelligence, sustainable engineering, and business strategy. They engaged in a panel discussion focusing on the latest trends and challenges emergent in the industry. A number of focus points included practical applications of AI in business, eco-friendly engineering solutions, and the dynamics of starting and sustaining a tech business in the competitive global economy.

Through the event, YBLL participants engaged in interactive and through-provoking ideation sessions with the goal of refining their tech-based solution strategies and enhancing their low-fidelity prototypes. The culmination of the Ideathon was a pitch presentation, wherein each group showcased their prototypes and business plans to an esteemed panel of judges. Each group was asked to present not just the targeted technical solutions, but as well as the projected impact of each of their proposed innovations towards society.

This section of the YBLL Ideathon demonstrated the successful blend of academic background with practical application and mentorship, marking a significant achievement in the pursuit of fostering a new generation of technopreneurs ready to make a difference in the technology and business landscapes.

The group with the prototype titled, KuboKart won the contest. According to Arielle Umali, a YBLL participant, describes their KuboKart innovation as an online marketplace connecting local vendors with a broader audience, empowering them to showcase and sell their produce efficiently. Not only does it provide vendors with a platform to prevent food waste by offering their surplus at discounted rates, but it also enables consumers to access products at affordable prices. Additionally, KuboKart offers convenient delivery or pick-up options powered by a  proximity map system, and identifies the trends of supply and demand using search engine optimization to assist vendors with their inventory and for future research. Their project(s) showed not only effective tech-based data and solutions skills but also a solution to aid in the reduction of food waste.