917Ventures, the venture builder unit of Philippine telecommunications major Globe, has invested about $150,000 in total in three local startups.
In a statement, 917Ventures said it has invested 2.5 million pesos ($50,000) each in startups KodeGo, Fanlife, and BentaTV to put their businesses to reality.
Both Fanlife and KodeGo joined 917Ventures’ three-month Velocity Bootcamp last year. The program aims to help external talents and bring their ideas into the 917Ventures which would help them create their businesses.
The third, BentaTV, came from the company’s internal Venture Builder program.
917Ventures is the country’s largest corporate venture builder wholly owned by Globe. Through the Velocity program, it brings external talent and their ideas into the 917Ventures family, to provide them the opportunity to create businesses with the growth levers and network advantage of operating within 917Ventures and Globe.
“We are happy to find ideas that are aligned with our vision of improving the digital lifestyle of Filipinos and helping solve social issues through technology,” said 917Ventures managing director Vince Yamat.
“These ventures are already getting ready to spin off into a company so we are here to provide them with the support they need. We look forward to seeing them grow and take off to be successful digital pioneers,” he added.
With K-culture being very popular in the Philippines, Fanlife brings fans closer to their favorite K-Pop or K-Drama stars through exclusive experiences such as virtual concerts and livestreams, and official merchandise.
Aside from Korean artists, Fanlife also connects the fans to their other local and international favorites all within the website.
KodeGo, on the other hand, is an online bootcamp for those who would like to learn or improve in various areas of IT so they can land the right jobs. It offers a “learn now, pay later” model where students can focus on learning without financial stress.
Meanwhile, BentaTV is an online seller platform that simplifies live-selling and social media selling processes for non-tech-savvy informal merchants. This allows sellers to easily start and grow their online business with just a mobile phone and an internet connection.