Once more, Philippine startups demonstrated their pioneering technologies driving forward the cause of eco-innovation initiatives during the Ecothon in the Philippines 2023 Demo Day on August 30 at the Makati Diamond Residences, Makati City.
In its third edition, Ecothon Philippines renewed its commitment to uncover the most ingenious solutions that propel progress toward the achievement of the United Nations (UN) Sustainable Development Goal (SDG) No. 12: Sustainable Consumption and Production (SCP).
Nine finalists emerged from a pool of twenty-five startup teams after successfully completing a two-day online mentoring and coaching program where they each received assistance from mentors and local coaches to hone their innovation and business models.
The grand prize-winning team, Sikai Inc., creates software solutions for environmental, social, and economic sustainability. Sikai was awarded the prize of KRW1.5 million.
The second place went to Session Groceries, whose mission is to empower and uplift local farmers by providing comprehensive support in education, market access, and food processing. They are committed to fostering sustainable agricultural practices, strengthening farmer communities, and ensuring a fair and equitable supply chain. They received KRW1 million.
The third placer, Insiklo PH, is an insect upcycling venture that promotes circular economy by harnessing insects’ potential in converting biowastes into high quality feed, compost (frass) and biodegradable plastics. They received KRW500,000.
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 October 31 and COMEUP Global Startup Festival in Seoul from November 8-10 this year. The winners will also get the chance to network with the investors by participating in the two follow-up events. They will also become a part of Ecothon’s Alumni and ASEAN Network.
DTI Director Lilian G. Salonga noted, “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.”
This dynamic business competition is also conducted in Malaysia, Indonesia, and Laos and is being spearheaded by the ASEM SMEs Eco-Innovation Center (ASEIC), in synergy with the Ministry for SMEs and Startups (MSS) of the Republic of Korea, the Hanns Seidel Foundation, the Department of Trade and Industry (DTI) and this year’s Implementing Partner, Brainsparks.
