Subscribe to our newsletter!
Editing by Nathaniel Cajuday
- Archipelago Labs, a Filipino startup accelerator, is launching its first incubation program called ALAB on May 15, 2023, for aspiring Filipino technology entrepreneurs.
- ALAB is a 12-week structured program that aims to turn innovative ideas into successful startup ventures. It will include collaborative sessions, mentor and expert advisory sessions, and networking opportunities for participants.
- The program is open to Filipino founders or teams that are at the idea, pre-product, and pre-revenue stages, and may or may not be incorporated.
- Successful participants will receive startup capital of up to ₱1,000,000.00 and will be part of the A-Labs Collective, the startup accelerator’s network of tech startup entrepreneurs, operators, and investors.
Three months after its official launch, homegrown startup accelerator Archipelago Labs (A-Labs) announced the inauguration of its first incubation program, entitled ALAB, this coming May 15, 2023.
According to A-Labs, aimed at empowering aspiring Filipino technology entrepreneurs, ALAB is designed to provide a structured program for entrepreneurs that targets jumpstarting innovative ideas and turning them into successful startup ventures.
It is open to entrepreneurs or entrepreneurs-to-be with “compelling technology startup ideas, prototypes, or teams that tackle the intersection of Web 2 and 3, consumer applications, infrastructure and tools, finance, and digital experiences.”
“The ALAB program, leveraging A-Labs incubator identity, is geared towards entrepreneurs, experienced professionals, and second-time founders that are looking to build and scale technology startups,” a statement read.
As per the startup accelerator, ALAB will have 12 weeks of learning early-stage startup fundamentals, collaborative cohort sessions, mentor and expert advisory sessions, open office sessions, and networking opportunities for its participants with other startup founders, operators, and investors.
After the 12-week program, participants will have to present at a fundraising project through A-Labs and its network of investors on a culminating demo day. Successful members of the program will receive startup capital of up to ₱1,000,000.00 and will be part of the A-Labs Collective, Archipelago Labs’ network of tech startup entrepreneurs, operators, and investors.
Moreover, A-Labs also noted that the program is open to Filipino founders or teams that are at the idea, pre-product, and pre-revenue stages and may or may not be incorporated. They must not have raised external funds and can have a maximum of three participants from each startup. A-Labs highlighted that founders or teams with business acuity and a knack for technology are welcome.
“The program is open to all technology ideas, startups, and business models. We welcome entrepreneurs (or entrepreneurs-to-be) from all walks of life,” the firm emphasized, adding that each participant will also receive perks and benefits from Archipelago Labs’ partners, including startup tools, cloud services, and more.
Launched in late 2022, A-Labs is the country’s first and only known web3-focused accelerator. It is backed by the local crypto exchange Philippine Digital Asset Exchange (PDAX). Playdex, a startup building infrastructure for Web3 gaming through an NFT rental marketplace, is also a part of the A-Labs’ inaugural cohort.
Last November, the firm allocated $10 million worth of funds to invest in and accelerate the growth of startups and talent in the Philippines’ Web3 ecosystem.
Applications for the ALAB May 2023 batch are now open; all interested applicants may submit their proposals until April 15, 2023.
This article is published on BitPinas: Archipelago Labs to Open ALAB Incubation Program for Filipino Tech Startups
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.