QBO-assisted startups hit Q2 targets, seek investors in order to scale

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PIXABAY

Early-stage startups that participated in QBO Innovation Hub’s incubation program secured their growth targets in the second quarter of 2021 and are now looking for investors.

“The goal of the program is to help these select startups set their business up for long-term success. We worked with them to help them understand their customers, improve the customer and user experience, and refine their products and services,” said Carlo Yaptinchay, QBO’s startup development program head, in a statement, “After six months, most of these startups are now looking to expand their customer base, link up with partners, and find investors.”

QBO’s virtual program, which ran from November 2020 to May 2021, helped each venture digitize operations and reach target revenues. COCOTEL, a hotel aggregator, reached an average of P1 million worth of transactions per month for four months; Panublix, a textile sourcing platform, generated over P300,000 in sales for community enterprises; and Last Mile, a logistics service innovation company, grew by 200% in transactions within one quarter.

The 13 participating startups are:

  • AkadsPH, an online service that streamlines the process of booking tutorial sessions for students using a system that matches them with tutors;
  • COCOTEL, a hotel brand and aggregator of getaway destination hotels that prevents overbooking through its property management system;
  • Panublix, a collaborative sourcing platform based in Iloilo City that connects Philippine weavers with the fashion market;
  • EveGrocer, a subscription-based online grocery, that offers waste-free commodity products;
  • iRentMo, a rental marketplace community that brings renters together across different industries with an app;
  • Spare, a financial solution that allows small and medium enterprises (SMEs) to give digital change;
  • Ventii Eats, a discovery and delivery platform for specialty food;
  • RaceYaya, a portal for live and virtual events for the endurance sports community;
  • Fitscovery, a marketplace that provides trainers and gym studios with tools to digitize;
  • XPERTO, an online events management platform for learning programs designed and delivered by professional organizations, associations, and experts;
  • InterLeukin, a web platform for end-users, medical purchasers, and suppliers automating the procurement process from end-to-end;
  • Last Mile, a digital logistics service innovation company that offers fleet management, riders-for-hire marketplace, and third-party fulfillment;
  • and SmarterMeter, a device that helps consumers save electricity by giving real-time data and analysis about their consumption.

“The pandemic may have delivered a huge blow to our economy, but these startups have shown that they have the expertise, grit, and muscle to help industries digitize and deliver value,” said Katrina R. Chan, executive director of QBO. — B. H. Lacsamana

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