Team Victorem, a technology startup from the Saint Louis University in Baguio City was declared as the over all champion of this year's Philippine Startup Challenge 5 (PSC5) organized by the Department of Information and Communication Technology (DICT) on Friday, April 5.
The technology startup is a rental platform which allows users to post an item for rent or find an item to rent. It can be easily accessed through mobile devices or web browsers. The application is "safe, secured, and convenient" for renters and item owners to transact payments, the team added.
There were 15 teams from various colleges and universities all over the country who had pitched and defended their startups in front of business owners and panel judges. This year's Philippine Startup Challenge 5 was hosted by Iloilo City at the Grand Xing Hotel.
Out of 242 entries received by the DICT, only 30 made it to the semi-finals and only 15 were selected by technology and business startups to enter the National competition. According to DICT Undersecretary Monchito B. Ibrahim, all the startup participants went through rigorous screening and training.
"We're very, very glad to see all the ideas that they have come up with and that's actually making me believe that the future of the Philippines is in good hands," Ibrahim said.
The top 5 winners will be receiving PHP 200,000 from the Department of Science and Technology - Philippine Council for Industry, Energy and Emerging Technology Research and Development (DOST-PCIEERD) to help them in the product prototype development.
The champion, Team Victorem will be part of Huawei's Seeds of the Future Program, a two-week college undergraduate study program in China to equip them with ICT-based skills and knowledge. They will also automatically qualify for the 2019 IdeasSpaceBootcamp.