TEN promising startups are all set to unlock the next stage of growth and scale after completing a 10-week accelerator program conducted by 917Ventures in partnership with global venture capital firm and startup accelerator 500 Global.
The 10 participants are Capitan, Carsada, EdVenture, FundSpace, Housify, KodeGo, MemoApp, PIE, Rappit, and RUSH.
The program aimed to replicate the successful accelerator experience of Silicon Valley startups by tapping into 500 Global’s expertise, resources, and capacity to support high-potential businesses and expand their opportunities beyond the Philippines.
Through the partnership, 917Ventures was able to offer its startups access to 500 Global’s extensive network of mentors, corporate partners, alumni, and proprietary accelerator curriculum and resources.
The participants underwent over 10,000 learning hours, tapping into the expertise and experience of global startup founders via exclusive sharing sessions. They also got the chance to have one-on-one sessions with mentors to get personalized feedback and guidance on their specific business challenges.
“The 500 Global Accelerator Program has been a huge success, providing our startups with valuable feedback, new partnerships, and a wealth of knowledge to take their businesses to the next level. We are confident that they will continue to grow and thrive in the future, and we cannot wait to see what they will accomplish next,” said Vince Yamat, Managing Director of 917Ventures.
Ee Ling Lim, Executive Director of Market Launch at 500 Global, also shared her excitement about the program results. “Our partnership with 917Ventures has been a fantastic opportunity to support and guide these startups on their journey to success. We are proud to have been a part of their growth and look forward to seeing the impact they will have in the years to come.”
Through the program, Capitan received valuable client feedback and testimonials and gained a new partnership idea to be rolled out soon.
One-stop used car shop Carsada conducted weekly customer discovery sessions, which provided the basis for its sales strategies, while online tutorial services EdVenture gained insights about customer discovery, identifying pain points, and measuring the right metrics.
Business loan provider FundSpace received information on product-market fit and applied frameworks on customer profile and customer journey. Housify conducted weekly customer discovery sessions, which provided the basis for sales and supply acquisition strategies, and gained two sale offers by applying customer insights.
Coding boot camp KodeGo was able to pivot and find product market fit for 2023 and streamline sound and effective tactical projects. Template-based memo system MemoApp received essential frameworks on customer discovery, product development and sales to monetize this quarter and develop its freemium model.
New revolutionary TV and digital channel PIE, short for Pinoy Interactive Entertainment, gained valuable learnings that helped it focus and simplify its overall approach and mindset to the business.
Online grocery store Rappit identified key points for customer conversion, retention, and churn, reviewed current communications design, and restructured scheduling, creatives, and overall messaging.
End-to-end e-commerce platform provider RUSH found the program to be a great refresh and reminder of the importance of fundamentals they tend to overlook in the day-to-day activities, and released product enhancement that increased order success rate and fulfillment speed.
Having a total of 12 portfolio companies since 2019 and with more ventures in the pipeline, 917Ventures remains the country’s largest corporate venture builder that generates startups from concept and development to growth and expansion.
Its accelerator program was aligned with the company’s plans for this year to explore new areas in climate technology and focus on digital transformation to help small and medium-sized businesses recover and grow.
917Ventures is set to produce more ideas in the areas of finance, media and entertainment, e-commerce, digital health, and education. It also plans to work with other companies to create new ventures.
Learn more about 917Ventures and its startups by visiting https://917ventures.com/.