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Manila Bulletin devider Business devider Trade & Industry devider Filipino startups shine in Ecothon 2023

Filipino startups shine in Ecothon 2023

Published Sep 4, 2023 05:39 am

Philippine startups took the opportunity to display cutting-edge technologies and three stood out of 25 competing teams during the 3rd Ecothon in the Philippines 2023 Demo Day last Aug. 30.

To advance the country's eco-innovation initiatives, in its third edition, Ecothon Philippines reaffirmed its commitment to identifying the most innovative solutions that will ensure the fulfillment of the United Nations (UN) Sustainable Development Goal (SDG) No. 12: Sustainable Consumption and Production (SCP).

Ecothon is a business starter competition in which intensive participation of prep entrepreneurs or startups in their initial stages is required for 2-3 day. This year’s business competition, held in Malaysia, Indonesia, and Laos. 

Meanwhile, was spearheaded by the ASEM SMEs Eco-Innovation Center (ASEIC) in collaboration with the Republic of Korea's Ministry for SMEs and Startups (MSS), the Hanns Seidel Foundation, and the Department of Trade and Industry (DTI). This year's implementing partner is Brainsparks. 

The ASEAN region continues to demonstrate its commitment to crafting a future that embodies both economic dynamism and environmental sensitivity through Ecothon.

After successfully completing a two-day online mentorship and coaching program where they each received assistance from mentors and local coaches to improve their innovation and business models, nine finalists emerged from a pool of 25 startup teams.  

DTI Director Lilian G. Salonga underscored, “the Ecothon has evolved from a concept into a driving force for change, a platform where ideas flourish and collaborations thrive, all in the pursuit of a greener, more sustainable Philippines. It (Ecothon) has brought together a vibrant community of thinkers, dreamers, and change-makers, all united by a shared vision of leveraging innovation to address our environmental challenges head-on….with this strong foundation, we're thrilled  to continue this collaborative venture.”

Hanns Seidel Foundation Vietnam Country Representative Michael Siegner for his part, said that, “it is a real inspiration to see entrepreneurs of the future, with innovative ideas which can turn into profit, generate jobs and change the way we produce and consume. We firmly believe that the climate crisis can only be tackled with entrepreneurship, innovation, and passion for sustainability.”

For the 2023 edition, Sikai Inc. was given the recognition as grand prize-winning team. The company, which received 1.5 million Korean won (KRW) or roughly P64,400 as price money, develops software solutions for environmental, social, and economic sustainability.

Session Groceries took second place. Their objective is to empower and uplift local farmers through comprehensive education, market access, and food processing help. They are dedicated to promoting sustainable farming methods, building farmer communities, and ensuring a fair and equitable supply chain. They were awarded KRW 1 million or P42,940.

Insiklo PH came in third place. It is an insect upcycling venture that promotes circular economy by utilizing insects' ability in turning biowastes into high quality feed, compost (frass), and biodegradable plastics. They were awarded KRW 500,000 or P21,500.

ASEIC International Cooperation Team Leader Hyun Jee extended her congratulations to the Ecothon winners. According to her, “the three winners  will get the chance to participate in the two follow-up events, which are the  ROK-ASEAN SDGs Business Model Competition (BMC) in Jakarta on 31st of  October and COMEUP Global Startup Festival in Seoul from 8th-10th of November this year.”

The winners will also have the opportunity to network with the investors by attending the two subsequent events. They will also join Ecothon's Alumni and the ASEAN Network. (Ma. Joselie C. Garcia)

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