917Ventures launches venture incubation program in SEA

917Ventures, the country’s largest corporate incubator, has launched a regional venture incubation program dedicated to giving prospective builders and other talents the opportunity to build successful businesses in the areas of e-commerce, fintech, healthtech, and adtech. 

Called Velocity, the program seeks to gather the best innovators in Southeast Asia with an initial grant of up to $50,000 (roughly P2.4 million).  Talents who manage to build a meaningful product with proven traction will continue in the venture development journey through a seed round, with the ultimate goal of spinning off as an independent entity. Up to 10 finalists will be selected to partake in this exclusive program. 

“We have structured Velocity in a way that really puts talents first. We’re here to support and help venture builders create successful businesses that would progress on to ultimately becoming a standalone entity with bright growth prospects. We aim to support venture builders in their journey to realizing their dreams and thus, encourage interested parties to build their first unicorn with us,” said Vince Yamat, 917Ventures’ Managing Director.