Deadline: March 23, 2018
Who can join? Startups who have not received any venture capital, uses technology to innovate and rapidly scale and willing to participate in Cerebro’s incubation program are welcome to join.
Only a maximum of 4 members of the team will be allowed to participate in the incubation program. No age limit but minors who participate must submit written parental consent together with their application. Open to all nationalities subject to compliance with immigration and other pertinent laws by foreign nationals.
The selected startups will receive pre-seed grant of Php60,000 cash and enter Cerebro Lab’s Incubation Program, a six-week intensive training and mentoring program where the following support services worth aroundPhp 1,000,000 will be provided:
- Co-work space
- Shared office equipment
- Communication and internet services
- Business, Marketing, Legal and Financial consulting
- Free access to seminars, workshops and other special events
- One-on-one sessions with Cerebro’s full-time, Silicon Valley-trained staff
- Access to Cerebro Lab’s startup community and network of local and international investors and corporate partners
- Other services which Cerebro Labs may find necessary in the successful incubation of a particular startup
Top graduates of the Incubation Program will have the chance to enter the Cerebro Labs Acceleration Program where a seed fund amounting to a minimum of Php500,000 plus Php2,000,000 worth of support services will be provided.
Application will be online through Cerebro’s website. Applicants are required to answer the set of questions provided in the application. Answers to these questions will be used in the initial screening and those who pass will be interviewed by the Cerebro Team to determine the top challengers.
Entries will be judged according to the following criteria:
Creativity – refers to the originality, novelty and appeal of the value proposition. It must contain a demonstrated differentiation from existing products or services or an entirely new disruptive one and must be difficult to copy or replicate.
Functionality – refers to how well the idea presented addresses the problem it seeks to solve and its usability or ease of use as well as its function in the daily lives of intended customers
Potential for growth – refers to target market, marketing plan, strategy for scaling and the degree of financial growth the product/services can bring
Founder or team – Expertise, cohesiveness, commitment and strategy to attract more talent when needed.
Choice of top challengers shall be final and subject to the discretion of the Cerebro team. Not more than 3 members of the selected teams will be allowed to physically participate in the incubation program. In joining the challenge, applicants agree to the public presentation of their ideas.