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As start-up scene is slowly yet strongly building in the Philippines, incubators play a crucial role in cultivating the new landscape with its fresh and innovative ways in doing business. According to a Forbes.com article, 90% of start-ups fail. That’s why top-of-the-line training vehicles like incubators are very important for startups to succeed.
An incubator is where start-up companies can turn to for advice and guidance on how to turn what was once a good idea for a start-up into a legitimate business. Once these start-ups have a solid place in the business scene, accelerators can help grow these start-ups into internationally successful companies.
One of the leading incubators in the country today is Y-Bizz Incubator. Frankie Meng, a Hong Kong national, recognizes the potential of the Filipino start-up scene, so much so that he built an incubator office in the business district of the Philippines, right in the bustling city of Makati.
“I believe that Filipinos are very talented and innovative when it comes to building unique business models,” the founder of Y-Bizz said. “It is all a matter of providing them with comprehensive trainings and interactive guidance that are at par with the international and modern standards, and that’s how Y-Bizz Incubator comes in.”
Y-Bizz is an ecosystem of community hackers, start-up entrepreneurs, mentors, innovators and investors. The Y-Bizz Incubator is where they grow businesses from theory into reality. Each of its functions and departments prepares its startup partners for the challenges they will face in real-world markets. This makes a true holistic support available to its partners.
Y-Bizz Incubator has different functions and departments. It has various facets like Incubation, Acceleration, Workshops and Seminars, Community Networking and Co-Working Space.
According to Frankie Meng, incubation refers to mentoring fresh start-up companies that are still on the ideation or seed stage, while acceleration is for companies that have already gained attraction and is already gearing up for expansion.
The incubator and acceleration programs include one-on-one mentoring, management advisory, networking activities, access to venture capital and angel investors, advisory on financial and accounting management and guidance on investment relations.
Meng said, “We envisioned the start-ups to succeed in making their mark in the world of innovation and social responsibility through Y-Bizz Incubator’s dynamic programs and facilities.”
Programs are taught by thoroughly selected mentors. Its programs are specific to each industry, that’s why its mentors have different specializations and expertise. Each of Y-Bizz’s start-up companies benefit from customized and specialized learning from these mentors.
Meng further shared that their incubator has top-notch amenities as well. “We have co-working spaces here wherein start-up founders can be trained. We also have a high-speed wireless internet, brainstorming rooms, meeting rooms, audio visual equipment, lockers, paper supplies and pantry. Our space is where they can really function as a company with specialized trainings provided for them.”
For more info about Y-Bizz Incubator, you can drop by its office located at the 27th Floor of PBCom Tower, 6795 Ayala Avenue corner V.A. Rufino, Salcedo Village, Makati City.