The Department of Trade and Industry’s Competitiveness and Innovation Group (DTI-CIG) is seeking innovative startup companies to participate in their two programs to strengthen the Philippines’ creative industries.
The DTI-CIG, headed by Undersecretary Rafaelita M. Aldaba, has teamed up with startup accelerator Launchgarage to introduce the Creatives Edition of the Incubation, Development, and Entrepreneurial Assistance (IDEA) and Accelerating Development, Valuation, and Corporate Entrepreneurship (ADVanCE) programs. The programs are specifically designed to provide tailored assistance to creative startups in the Philippines, enabling them to become investment-ready and succeed in the market.
“By providing the much-needed support and platform, we are setting the stage for creative startups to thrive locally and make a significant impact on the global stage. The creative sector is a vital component of our economy and cultural identity, and through initiatives like these, we aim to foster an environment where ideas can flourish, talents are honed, and success stories are born,” said Usec. Aldaba.
The IDEA for Creatives edition is a program that will support and enhance the entrepreneurial capacity and readiness of 10 early-stage creative startups and enterprises. The selected startups will participate in various educational workshops to transform their inventive business concepts into successful enterprises. Each startup will be paired with experienced mentors and coaches to guide them on their startup journey.
The program will culminate with a showcase event where startups can present their ventures to program stakeholders, angel investors, venture capitalists, corporate representatives, and key figures in the ecosystem.
Startups in the early stages of operation in the Philippines with a minimum viable product, either registered or in the process of registration with the Securities and Exchange Commission (SEC) or DTI, and having at least 60% of its founders as Filipino, are eligible to apply. Additionally, the startup should have at least two founders committed to the IDEA program to qualify for the application process.
The deadline for applications is January 31, 2024. DTI invites all creative startups in audiovisual media, digital interactive media, creative services, design, publishing, print media, performing arts, visual arts, traditional cultural expressions, and cultural sites to apply for the programs.
The IDEA and ADVanCE programs align with RA 11337, the Innovative Startup Act. This act provides benefits and programs to strengthen, promote, and develop the Philippine startup ecosystem.
To learn more about the programs and submit applications, interested parties can visit the official websites of , , and the DTI-CIG Facebook page.
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