The following rules and regulations apply to all participants of the Innovate Iloilo StartUp Challenge. Individuals are expected to familiarize themselves and abide by these rules outlined in this document throughout the competition. Violation of any of these rules may result in disqualification of an individual. See “Who can join” for more information.

1. The competition is limited to 8 pitches. The eligibility pool consists of those who:
   • applied for Startup Business Registration in the City of Iloilo;
   • recognized by school-based TBIs;
   • has bank account;
   • adhere to these pitch competition guidelines;
   • submit their desire to pitch form by Dec. 1 – Dec. 9, 2023.
2. If there are more than 10 submissions, a review process will evaluate the persuasiveness of the value propositions. Applicants will be notified no later than December 8 if selected to pitch.
3. Businesses pitched must be in the initial stages of development. A business that does not receive funding from any source exceeding P50,000.00 under any circumstances.
4. The business must be the original work of the individual pitching it. The Innovate Iloilo and Team has the sole discretion to disqualify and/or remove any individual for any reason that it deems appropriate before, during, and/or after the pitch competition for violation of these rules. All decisions regarding an individual’s removal and/or disqualification from the pitch competition are final.
5. Pitches must be given by an individual who applied and participated in this program. This individual may represent a larger team or community. No team pitches are allowed. Each individual may only pitch one business. No PowerPoint, screen sharing, or multimedia will be allowed.

Individuals express their interest in participating in the Competition via the Innovate Iloilo Startup Challenge @ the Innovate Iloilo Official Website online form. Registered Startup and/or non-registered startup, recognized school-based TBIs incubatees, those with bank account, adhere to the competition guidelines are invited to join and submit their desire to pitch by December 1 until December 9, 2023.

Participants must submit a 3-minute video of their pitch. The submitted pitch will be assessed by a panel of judges who will shortlist the the eight (8) finalists to progress to the final competition.

Individuals who are shortlisted to top eight (8) will undergo a workshop with mentors to refine their pitch skills before the actual competition.

Executive Summary: Start with a brief overview of your startup, including its mission, target market, and key accomplishments.

Problem and Solution: Clearly articulate the problem your startup addresses and how your solution is unique and effective.

Market Analysis: Present a thorough analysis of your target market, including size, growth potential, and any relevant trends or dynamics.

Product or Service: Provide a detailed description of your product or service, including its features, benefits, and any competitive advantages.

Business Model: Explain how your startup generates revenue, its pricing strategy, and any key partnerships or distribution channels.

Traction: Share any evidence of market traction, such as customer acquisition, revenue, partnerships, or user engagement.

Team: Introduce your team members, their expertise, and their relevant experience in driving the startup forward.

Financials: Present your financial projections, including revenue forecasts, cost structure, and any funding needs.

Competitive Analysis: Identify and analyze your key competitors, highlighting your strengths and advantages.

Roadmap and Milestones: Outline your future plans, milestones, and growth strategies, demonstrating your startup’s scalability and potential.

Time is of the essence. There are 3 minutes allocated to each individual pitch and 2 minutes allocated for Q & A with the judges. You will be muted after going over your time. Practice, Practice, Practice – it isn’t good to be cut off after 3 minutes and still have more to your pitch.

The judges consider specific criteria when evaluating concept papers and business plans; however, winning individuals are often those in which the judges would most likely invest. This decision is influenced by several factors. Specifically, judges will be asked to evaluate each individual on the following:

All pitches should cover the following:

• What does the proposition offer? How effectively does the value proposition benefit all potential stakeholders? 25%
• What is the current necessity for the community to have this opportunity? Is the market need clearly articulated? 25%
• How does it work? To what extent does the opportunity align with entrepreneurship goals such as collaboration, engagement, profit reallocation, and power redistribution? 20%
• How much value will the opportunity’s business model generate for its target community/communities and the environment? 20%
• How qualified is the pitcher to lead the opportunity in collaboration with supply chain representatives, employees, team members, customers/clients, and community members? 10%

Consideration will be given to the commercial merit of the proposed new venture and an estimation of the individuals ability to succeed rather than the entertainment value of the presentation.

Judges appointed for this competition will be professionals from various business backgrounds including experienced investors (angels, venture capitalists and investment bankers), experienced-entrepreneurs and senior business people and service professionals who interact with early stage companies.

Top three winners and finalists will receive a share in a P100,000.00 cash prize courtesy of the Office of the City Mayor, Hon. Jerry P. Trenas of the Iloilo City Government.

• 1st Place: ₱35,000.00
• 2nd Place: ₱25,000.00
• 3rd Place: ₱15,000.00
• Consolation Prizes: ₱5,000.00 each for the 5 finalists

Prize Money:

1. The individual recipients of prize money will be responsible for the tax implications of their winnings.
2. The organizing team treats prize money payments as income to the individual(s) or team members receiving the prizemoney.
3. Prize money will be given in check or cash but shall undergo through the usual accounting procedures and regulations under the Iloilo City Government.

Launched in 2019, Innovate Iloilo is a public-private movement that aims to make the city & province of Iloilo a premiere innovation hub of the Philippines by 2030.

Innovate Iloilo started as an initial discussion between the private and public sectors in Iloilo City and Province in late 2018. The initial organizations who came together are the Department of Science and Technology, the Iloilo City Local Economic and Investment Promotions Office, Iloilo Province Local Economic Development and Investment Promotions Office, Iloilo Business Club and Iloilo Government, Industry & Academe Council, Iloilo Federation of IT, Global Shapers Iloilo and the Iloilo Economic Development Foundation. As the months progressed, more stakeholders were engaged and a series of workshops were organized to come up with the framework for Innovate Iloilo.