MANILA, Philippines ? Ten startup companies will be moving into the Ayala Technology Business Incubator (TBI) facility located in a soon-to-operate technopark across UP Diliman.
The said facility is managed by the Ayala Foundation, which previously set up a similar incubation facility inside UP campus.
The new facility is designed to house 12 startups, according to Ayala Foundation executive vice president Guillermo Luz. These new locators are a mix of software, hardware and electronics companies.
Ayala's new facility is located in the center of a sprawling 37-hectare space, called the UP Ayala technohub. Companies including IBM and call center companies will open offices in the said technopark.
Ayala's previous incubation facility -- located along Katipunan Avenue -- currently houses nine startup firms.
"We're now putting a time limit of four years. That's enough time for these start-ups to be big enough as a full-pledged company," Luz said in an interview with INQUIRER.net.
Ayala patterned its incubation model after that of Silicon Valley, looking to build an ecosystem of tech entrepreneurs, research and development (provided by the academe) and linking them with potential investors or venture capitalists.
Ayala Foundation also announced a partnership with Global Gateway Venture Capital, a venture capital firm put up by Winston Damarillo, a Filipino technopreneur based in Silicon Valley.
The two have conducted "tech bootcamps" that aim to provide technical and marketing know-how for aspiring start-ups.
"We will be looking at further collaboration with industry players," Luz said.