ARBON
Barely halfway through its mentorship program for startups launched earlier this year, the Department of Trade and Industry (DTI) is already trying to reach out to more budding tech entrepreneurs in 2017.
DTI Cebu Provincial Director Maria Elena Arbon said she hopes for the success of the current batch of mentees under the Launchpad program and that it can be sustained in years to come.
“Startups in Cebu only find opportunities in weekend activities or competitions, but these are never really followed through,” Arbon told Cebu Daily News on Monday.
Last week, DTI announced five tech startups that will be undergoing its three-month mentorship program including Cebu-based Fresh2ket, Shopcast, Road Rx, and Xafty, and Bohol-based Tarshare.
DTI’s Launchpad program is the agency’s initiative to help start-ups become full-fledged enterprises in the future through mentorship.
In Cebu, the initiative is supported by the Cebu Chamber of Commerce and Industry (CCCI) as well as the Cebu Educational Development Foundation for Information Technology (CEDF-IT).
It is patterned after the Philippine Software Industry Association’s (PSIA) Spring.ph program for startup founders in Manila and is the first of its kind to be implemented in Cebu.
In the next three months, the five local startups will undergo weekly mentoring sessions with Spring.ph coaches via Skype.
When the program concludes by year-end, the mentees are expected to come up with a more clear-cut business model for their ventures, which will eventually pave the way for them to become full-fledged entrepreneurs.
“By the end of the program, I hope they will discover the business model that is really fit for them. Startups have so much more potential to grow compared to traditional businesses,” she said.
While startups usually gain traction and recognition from entering competitions, the mentorship program allows startup founders to learn how to make their business grow more efficiently.
She said that even outside the program, mentees will be able to build networks with potential partners and financiers.
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