14 August 2023, Manila, Philippines — Archipelago Labs (A-Labs), a Philippines-based startup accelerator, featured five promising tech startups during the first demo day of its ALAB Incubation Program. The portfolio companies showcased their innovative products, solutions, and high growth potential to investors, mentors, media, and key ecosystem players.
The five early-stage startups were selected from over 100 applicants across the Philippines, and have an opportunity to receive up to P1 million startup funding from A-Labs and its extensive investor network, along with an exclusive membership to A-Labs Collective, the startup accelerator’s network of tech startup entrepreneurs, operators, and investors.
The first cohort of startups who completed the ALAB Incubation Program are Synthillate, a fintech startup that converts intellectual properties into financial assets; Ridge, a plug-and-play artificial intelligence (AI) platform that empowers the food and beverage industry to leverage advanced analytics for operational efficiency, optimized menu and promotions, and maximized profits; Gamer Points, an ad tech integrated game platform that allows gamers to passively earn while playing video games; Nexhire, a community-driven talent marketplace that connects individuals with the surging demand for next-gen jobs; and Twine, an AI-powered decentralized social layer that allows its users to monetize their personalities and own their social circles.
The Demo Day marked the culmination of the 12-week program, wherein participants had access to A-Labs’ mentorship and expert advisory, open office sessions, and networking opportunities that helped refine their business models based on their respective stages of development. Moreover, the Demo Day is participated by more than 50 investors.
With A-Labs’ comprehensive incubation and acceleration efforts, the ALAB program, which commenced in May 2023, has provided the startups with in-depth assistance and advisory support.
Lance Pormarejo, Executive Director of A-Labs, emphasized the need to support Filipino founders in shaping 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,” Pormarejo said.
As it continues its mission to scale homegrown startups, A-Labs has opened the application 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,” Pormarejo said.
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