ON3 Technology Entrepreneurship Acceleration Program
Supported by Science and Technology Advisory Council – Silicon Valley (STAC-SV), ON3 (2013-2014) is a PhP 30.6-million project that seeks to help accelerate the commercialization of the ideas of Philippine-based companies into the worldwide marketplace.
Specifically, it aims to improve the human resource talent pool through cross-border training and mentoring; shorten the time to market of commercialization of University R&D and SME ideas; increase global competitiveness; contribute to national productivity; and increase investment by foreign investors in the Philippines.
DTI handles this project together with Department of Science and Technology – Philippine Council for Industry, Energy, and Emerging Technology Research and Development (PCIEERD).
DTI, as part of the Project Management Team, is tasked to work with the following functions: planning and management, monitoring and evaluation, partnership and networking with various stakeholders, and project sustainability.
- Facilitated the transfer of the project fund from DOST to DTI after which meetings were held to discuss implementation details
- Formulated service contracts outlining the terms and conditions that must be complied with by the participants to the Immersion Program in Silicon Valley
- Facilitated participation of six (6) ON3 grantees to the 3-month Immersion Program in Plug and Play Tech Center in Silicon Valley. The Immersion Program includes introduction to top tier venture capital firms and angel investors and participation in the EXPO Series events and Plug and Play’s 3-day Silicon Valley Entrepreneurship Academy, and mentorship for investment readiness and bringing services to market.
|NAME OF PARTICIPANT||COMPANY||INCLUSIVE DATE OF ON3 IMMERSION PROGRAM|
|(1) Eric Tomacruz||Alumni.net||01 Apr 2014 – 30 Jun 2014|
|(2) Regina Renzy Buban||Alumni.net||01 Apr 2014 – 30 Jun 2014|
|(3) Eric Clark M. Su||Piclyf||11 Feb 2014 – 09 May 2014|
|(4) Blue Jason Basanes||Piclyf||11 Feb 2014 – 09 May 2014|
|(5) Marco Gerardo J. Mempin||NextIX||Oct 2012 – Sep 2014|
|(6) Roberto Jesus A. Suson||NextIX||Oct 2012 – Nov 2014|
- Facilitated transfer of funds for ON3 grantees who attended the Immersion Program in Silicon Valley. Two (2) additional participants from Twidl, Inc. namely Eric Clark Su and Blue Jayson Basanes submitted receipts and reimbursement documents from their 3-month Immersion in 2014.
- Conducted debriefing meeting on 30 March 2015 with startups who attended the Immersion Program in Silicon Valley. The startups noted that venture capitalists were essentially looking for three aspects when deciding whether to invest in a startup or not. These are: technology (the technology should be unique and can easily be commercialized; team (the start-up must have a solid team to ensure that they can deliver the demands of their clients; and traction (a venture capitalist would most probably invest in a technology which already has a large client base or number of users).
- Conducted planning session on 30 March 2015 with STAC-SV and ON3 startups on the Bridging Component of the ON3 project. The initial concept is to conduct two 1-day bootcamp events with ON3 grantees among the speakers and the participants would include startups under DOST’s TBI, companies in other accelerator programs (e.g. Ideaspace, Kickstart Ventures, SPRING.ph, etc.), and universities (e.g. UP Enterprise, DLSU Animo Labs, ADMU Innovation Center, University of San Carlos, etc.).
- Prepared and submitted request for extension of ON3 implementation to DOST-PCIEERD
- Prepared and submitted proposal for the ON3 Bridging Program to DOST-PCIEERD. The proposed project, to be funded, under DOST-GIA is designed to facilitate the “reecho” of learnings acquired by ON3 startups who have undergone the 3-month Immersion Program in Silicon Valley in 2014. It is aimed at enhancing the capability of technology startups that were not able to qualify for the Immersion Program during previous pitching competitions and start-ups under the DOST’s Technology Business Incubation (TBI) Program.
- Prepared documentary requirements in response to COA Notice of Suspension regarding the payment for the subsidy for ON3 grantees for the 3-month Immersion Program in Silicon Valley, California
- Prepared and submitted Terminal Report for the ON3 project to DOST-PCIEERD