Let’s turn your ideas into reality. Velocity by 917Ventures is Globe Telecom’s 3-month bootcamp for aspiring entrepreneurs. Focus on building. We’ll take care of the rest.
917Ventures is the largest corporate venture builder in the Philippines. Our mission is to improve the lives of all 109M Filipinos by building, operating, and scaling start-ups that tackle the biggest pain points of everyday people across the Philippines and APAC. Thus, we are committed to democratic solutions that every Filipino can benefit from, regardless of socioeconomic class and background.
As part of the Globe and Ayala ecosystems, we are able to leverage the rich asset base of companies across various industries and geographies.
Velocity by 917Ventures is our way of bringing external talent into our family. While 917Ventures and Globe are renowned for our innovative cultures, we believe the best ideas and ventures will come from the talented and diverse entrepreneurial base in both the Philippines and across the SEA region. As such, we’ve launched this program to provide venture builders the opportunity to build businesses with the growth levers and network advantage of operating within 917Ventures and Globe.
Our focus is on 4 verticals: FinTech, E-Commerce, HealthTech, and AdTech, but if you have a great idea in other verticals, please don’t hesitate to apply as well!
We will provide up to ₱2,500,000 in funding to help you develop an MVP and go-to-market, with the possibility of raising up to an additional ₱100,000,000 in seed funding upon the completion of the program.
We will provide you with dedicated tech teams to help you develop your product and go-to-market
We have the following expert teams to help you grow your venture: Marketing, Data and Analytics, Finance, HR, Legal
As part of the Globe ecosystem, we have over a million distribution points, over 150,000 enterprise partners, over 80 million subscribers, as well as additional access to the Ayala Universe. If you want to build products for consumers and enterprises alike, there really is no better place to do it than at Velocity by 917Ventures.
The Velocity by 917Ventures Program takes place over the course of 3 months. The first month will be focused on MVP (minimally viable product) development, and the following two months will be focused on taking solutions to market, and refining value propositions. The program is structured in a way that really puts talents first. We’re here to support, and help our venture builders build a successful venture that would progress on to ultimately becoming a standalone entity.
The program will include several events to help entrepreneurs ramp up their knowledge and learn from proven operators, including workshops and speaking engagements, as well as internal sharing sessions by leadership teams of 917Ventures’ portfolio companies.
The program will hold weekly sessions for the batch of talents to get to know each other in a friendlier setting. There will also be a monthly session to share progress, especially at the end of Month 1 after everyone has built their MVPs. This will give you the right motivation to have a working product to show the rest of your batch!
The program will have a very structured approach to mentorship for entrepreneurs. Not only will the 917Ventures team be available anytime for advisory services, the Program will also pair each entrepreneur with a member of our Leadership Team for weekly sessions. Lastly, if there are certain subject matter experts entrepreneurs would like to speak to and learn from within the Globe ecosystem, the program will organize for that as well.
The program will provide venture builder access to various strategic stakeholders within the Globe ecosystem (e.g Mynt, Globe Consumer Business, Ayala Health, etc.). If you want to build a solution that works best in collaboration with certain Globe teams or functions, whether as a partner or direct customer, we can help set that up to maximize your chances of success.
We prioritize talents over ideas from Day 1, meaning if you are an entrepreneur with strong analytical skills, and proven ability to operate, lead and drive initiatives, you’ll be a good fit for the program!
Primarily, we look for people with previous success in building companies, leading projects from start-to-finish. We value applicants with domain expertise, technical abilities, and a catalyst mindset (skilled in sales, project management, and empowering team members).
We will review applications starting March 29, 2021. Shortlisted applicants will receive an email on March 31, 2021 and will be invited for an interview call and to present their pitch deck so we can better understand how 917Ventures can potentially help build your company. Announcement of confirmed applicants will be on April 19, 2021.
Yes, our selection process requires you to apply with an initial business idea. You will have to submit a 1-pager outlining your idea as part of the application materials.
Our admissions process is holistic, and factors in an applicant’s overall ability more so than ideas. While it may be hard to decide on just one idea to execute, you should pick your favorite idea and apply with that one. It is by no means a formal commitment, and if you’re admitted, we will work with you to continually refine that idea.
If you have a company registered already, the answer to this question is unfortunately yes. The program is meant to recruit talents with very early ideas, and build a new venture within 917Ventures internally.
You can apply online directly on our 917Ventures – Velocity website.
You can apply individually or as a team. In case you decide to apply as a team, the amount dedicated for salaries will be divided among team members. We recommend that you do not apply in teams of more than two total members.
If you’ve missed the deadline for the upcoming batch, your application will automatically be reviewed at a later date for the next batch.
The program currently focuses on four verticals: FinTech, AdTech, HealthTech, and E-commerce. However, it is one of open innovation, meaning talents are encouraged to devise solutions and products within these four broad industries they believe fit best with the Globe network advantage.
Yes, but priority in our selection process will be on the 4 aforementioned focused verticals.
This is a full-time program. We expect you to be fully dedicated to the program in order to succeed. You should not be employed in any other capacity over the duration of the program.
The Velocity by 917Ventures Program offers an opportunity for talents to join an entrepreneurial program where you will be able to turn your dream idea into reality. 917Ventures invests up to ₱2,500,000 in each project to prototype your business idea and run your market validation. At the end of the program, you will present your learnings and hypothesis to the 917Ventures team. You will also have the opportunity to pitch for Seed funding of up to ₱10,000,000 to the 917Ventures Investment Committee.
917Ventures team is fully committed and works with each talent on a day-to-day basis. We provide mentorship from our Venture Strategists and Leadership Team. You will also get dedicated support on the following functions: Product & Tech, Finance, Legal, Growth Marketing, HR, Data Management
The Velocity by 917Ventures Program is divided into 3 phases.The first week is an onboarding week to understand the program guidelines, meet your mentors and work with different teams to figure out the level of support you’ll require. You will then have 7 weeks to build a working prototype with the support of the Product & Tech team, develop your initial solution, GTM plans, and set milestones. The last phase is an 5-week validation period to hopefully find product-market fit, where you will test your initial solution, gather learnings from initial traction, and iterate.
You do not have to team up with other talents during the program. 917Ventures will provide you with all the resources you need to succeed. The 917Ventures HR team will also help you set up a core team if necessary.
Definitely! As long as your motivation and pitch are convincing, you’ll be selected. There’s no need to have a technical background, as our Product & Tech Team will help sort out all the technical aspects of your program. With that said, we expect talents to have a certain degree of technical expertise or knowledge in order to come up with the best products.
Yes! The 917Ventures team will provide necessary resources to help you build your product. You will be tasked to manage this team and deliver an MVP and results accordingly. While it is helpful for you to already have a prototype, or a good idea of how to build your product, it is by no means a requirement to join the program.
The Velocity by 917Ventures program is a unique chance for talents to realize their visions without taking on all the risk of being a traditional start-up Founder. As Globe Telecom’s corporate venture builder, 917Ventures provides a strong platform with unparalleled support and network opportunities for talents to build, operate and scale companies in the Philippines, and regionally.
Given the current global health crisis, the program will be fully online. However, the standard of quality of support we provide will be just as robust as if it were in-person. We will provide all the necessary tools for clear communication and collaboration, and have regular check-ins to ensure you receive all the support you need to drive the new venture forward.
This will depend on the development of the COVID-19 situation, but we have a brand new dedicated office space and future batches can expect to have access to this.
The start date of the program will be discussed with confirmed applicants upon needs assessment of the idea. Program may start as early as May 2021 or as late as Sept 2021.
For everyone who joins the program, we will award up to ₱2,500,000 to set up a new venture and build a prototype with the full support of the 917Ventures center of excellence team, over the course of 3 months. We will take you into the 917Ventures family, and provide you with everything you’d need, to bring your idea from concept to reality. As such, you will drive the initiative with our full backing, but we will also take a significant majority share in ownership of any successfully spun out company.
Since we are the ones providing all the resources and support in building this new venture with you, we will take majority ownership of any company that successfully gets incorporated. However, we will provide a stake to you as a Founder should the company spin off.
The program is simply the first step to building a successful company. If you are successful in building an MVP and getting initial traction, you will proceed to raise a Seed round from us. If you demonstrate solid growth within the next 6-12 months, you would be able to spin off the venture and potentially continue operating it in an executive role of the independent company, subject to board approval.
While there is no guarantee of a successful raise after the completion of the program, ideas that prove to be sustainable business models will go on to further raise a Seed round for up to ₱100,000,000 , subject to our Investment Committee approval.
The way the program is structured is done in a way so that you’ll have up to ₱2,500,000 to build your product and business, on an as-needed basis. It will be categorized as a combination of both capital and operational expenditures, and will be drawn down accordingly.
We expect talents to use the ₱2,500,000 to fund the formation and development of their idea through 917Ventures resources. This means that program allotted funds will not be eligible for use of contracting external support and vendors directly. If there are specific needs for certain functional requirements, the team responsible for offering such services will be responsible for getting you the support you need.
The different functions of 917Ventures will charge at different rates. However, it can generally be broken down into two subsets – man hours (e.g. developers, marketers, market research, etc.) and software services (e.g. domain hosting, cloud infrastructure, etc.). All of these supporting services will be drawn down from the ₱2,500,000 allocated to your management.
As part of the program’s terms, we have set the salary limit to be 10% of the total investment grant amount, totaling to ₱250,000 over the program’s duration. Our Finance team will be in charge of deploying that capital to you over the program’s duration.
You are welcome to leave the program and stop building your venture at any time. Any remaining funds not yet used from the ₱2,500,000 will be forfeited, and claims to any MVP or business traction/revenue obtained will be to 917Ventures.
If you are not selected for the program, we will not be retaining any rights to your idea or business, nor will we sign an NDA, as that is a commitment no investor or partner would make at this stage. However, if you choose to go through the program, since we will be the ones building out the venture with you, we will retain rights pertaining to assets and intellectual property.
After the completion of the program, the top ventures would go on to successfully raise a Seed round of funding (up to ₱100,000,000 ) and continue scaling their business with the support of even more resources from our Acceleration team. The rest of the talents who don’t make it through won’t be able to continue building their ventures separately from 917Ventures. However, they will join our talent pool to be considered for other positions within our portfolio companies.
In the same vein, we will not be able to guarantee any official corporate partnerships. This will be wholly dependent on the traction you’ve managed to achieve over the course of the program, and on the willingness of the proposed corporate partners to accept. However, we have a strong structure to maximize your chances of getting these corporate partnerships. As part of the program, we have set up periodic reviews with Globe teams most relevant for you to help guide the development of your solutions, in addition to weekly 917Ventures mentorship, and the larger mentor network. During the onboarding, we will identify key strategic groups you should build your company alongside, to ensure you deliver value and increase your odds of getting that corporate partnership.
The on-going project and any intellectual property will actually be owned by 917Ventures. If you’re not selected to move forward into the Seed round for any variety of reasons, the program simply ends. You’ll be added to our talent pool for consideration of other roles within our portfolio companies, or you can reapply for the program at a later date.
Unfortunately, no. As part of the terms, 917Ventures will have complete ownership of the idea and venture, and the initiative will not take the form of an incorporated company until enough traction and progress have been made, so any venture that doesn’t successfully raise a Seed round after the program will simply be discontinued. However, as mentioned previously, you will be placed in our talent pool and can be hired under advancing projects of your fellow cohorts, or under 917Ventures operations and our existing portfolio.
Approach / Solution
Why Now? Why You?
Market Size & Opportunity (TAM)
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