5 Startups Finish ALAB Incubation Program; Edition 2 Now Open

Archipelago Labs unveils 5 startups from its ALAB Incubation Program during ALAB Demo Day.

5 Startups Finish ALAB Incubation Program
  • Archipelago Labs (A-Labs) reveals the first cohort of tech startups from their ALAB Incubation Program during a demo day, where five early-stage companies presented their innovations to investors and key stakeholders.
  • The five startups showcased are Synthillate, Ridge, Gamer Points, NexHire, and Twine.
  • A-Labs also announces the opening of the program’s 2nd cohort.

Five months after opening the application period for its ALAB incubation program, Philippines-based startup accelerator Archipelago Labs (A-Labs) unveiled the first five tech startups that it is set to support. The early-stage companies were introduced during the program’s demo day on August 12, 2023.

ALAB Incubation Program

The program is designed to provide a structured program for web3 entrepreneurs that aims to jumpstart innovative ideas and turn them into successful startup ventures. It was announced last March and started on May 15. 

Prior to this, last November, PDAX-backed A-Labs set aside a fund of $10 million to invest in and accelerate the growth of startups and talents in the Philippines’ web3 ecosystem.

The media release states that five early-stage companies were chosen from over 100 applicants across the Philippines. They have the opportunity to receive up to P1 million in startup funding from A-Labs and its extensive investor network, as well as an exclusive membership to A-Labs Collective, the startup accelerator’s network of tech startup entrepreneurs, operators, and investors.

The Demo Day

The Demo Day marked the conclusion of the 12-week program, during which participants had access to A-Labs’ mentorship and expert advisory, open office sessions, and networking opportunities, according to A-Labs. 

“(These resources) helped refine their business models based on their respective stages of development. The portfolio companies also showcased their innovative products, solutions, and high growth potential to investors, mentors, media, and key ecosystem players,” the accelerator said, adding that the program was attended by more than 50 investors.

In a statement, A-Labs Executive Director Lance Pormarejo noted the importance of supporting Filipino founders to shape the future through innovation:

“By providing aspiring tech entrepreneurs with the necessary resources, guidance, and funding, we aim to cultivate groundbreaking innovations that will shape the future of the local tech industry.”

The Startups

As the inaugural run of the program has concluded, ‌A-Lab presented the first set of startups to complete the program, they are Synthillate, Ridge, Gamer Points, NexHire, and Twine.

  • Synthillate

Synthillate is a fintech startup that claims to support all kinds of research and development, technologies, and inventions by modernizing the way futuristic technologies get funded through their IP asset derivatives.

The platform provides IP collateralization, fractional ownership, and trading and exchange to its partners. By doing this, users can buy, invest or exchange IP assets and tech investments to the platform.

  • Ridge Analytics

Ridge Analytics is an analytics startup that claims to be an AI platform for data analysis and visualization.

It also aims to empower the food and beverage industry to leverage advanced analytics for operational efficiency, optimized menus and promotions, and maximized profits by providing interactive dashboards and charts without coding.

  • Gamer Points

Gamer Points is an ad-tech integrated gaming platform that claims to allow gamers to earn money while playing video games. It offers two methods of earning: content creation and playing.

According to its website, players earn as the website places ads on the screen while the user is playing and shares the ad revenue with the user.

  • Nexhire

Formerly known as Web3 Jobs Asia, Nexhire is a community-driven job platform with a focus on connecting web3 entities to potential applicants. 

The platform claims to assist team growth by utilizing community networks and super connectors to source talent referrals. Super Connectors are people who have a large and diverse network of professionals and can refer qualified candidates for various roles.

  • Twine Social

Twine Social is an AI-powered decentralized social platform that claims to allow its users to monetize their personal brands and own their social networks.

As a daughter platform of the known social platform Twine, it lets users aggregate, curate, and display social media posts from various networks.

A-Lab’s Future Plan

Accordingly, Pormarejo announced that A-Labs will continue its mission to scale homegrown startups by opening the application process for its ALAB Accelerator Program Cohort 2.

“Archipelago Labs is committed to fostering a vibrant entrepreneurial ecosystem in the Philippines, and with the launch of ALAB Cohort 1, we are taking a giant leap forward in achieving this goal,” he concluded.

This article is published on BitPinas: 5 Startups Finish ALAB Incubation Program; Edition 2 Now Open

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.