Award-winning Filipino human resource (HR) company STORM Technologies (STORM) is competing at the 2018 World Startup Cup (WSC) Finale and have a chance to win a US$1-million prize in the United States.
The WSC is a global startup competition and conference being held in San Francisco, California.
(As of press time, no winner has been declared yet where the pitching competition was held on May 11.)
Nineteen other regional winners of the WSC from 30 regional startup competitions from 30 different countries were pitted against each other. The winner takes home the $1-million prize in investment.
It can be recalled that STORM qualified for the WSC after winning on October 20, 2017 the Regional WSC, a highlight of the Slingshot ASEAN: Startup and Innovation Summit in Pasay City’s Philippine International Convention Center (PICC). It was organized by the Department of Trade and Industry (DTI).
Slingshot ASEAN (Association of Southeast Asian Nations) had the regional winners of the WSC battle each other. Slingshot delegates included the region’s startups and innovators, academe, investors, corporations, as well as representatives from the governments of the 10 members of ASEAN.
STORM’s winning pitch was about a solution that gives employees a chance to convert companies’ traditional benefits into points that they can use in purchasing items in the IT company’s exclusive and curated online marketplace.
Then in March 2018, the HR company continued its winning form.
The HR technology startup won the Judges’ Choice in the Echelon Top 100 Philippines Qualifier Roadshow, which e27 and QBO Innovation Hub co-organized.
Its latest feat is worth Singapore $3,000 worth of prizes that come with an exhibition space and pitching slot at the forthcoming Echelon Asia Summit 2018 on June 28-29 in Singapore.
Also part of its prize is a six-month worth hot desk in any WeWork space in Southeast Asia, and another S$500 reimbursement.
The winners are Echelon were picked based on problem and solution, market, revenue model, team, and their pitch’s quality.
Relatedly, in January this year STORM CEO Peter Cauton became an Endeavor entrepreneur after nine months of rigorous processing. It gives STORM an opportunity to tap into the New York-based Endeavor’s global network.
Cauton and Cindy Burdette, head of B2B Sales and Growth, respectively, flew to San Francisco this week for the WSC.
Burdette said the regional finals of the competition gave startups four minutes to pitch their solutions, but the World finals will only give two minutes to pitch and one and half minutes for Q&A.
“This is very short, considering in most pitch competitions it is really 4-5 minutes per presenter. But we already submitted our pitch material and are confident we will be able to deliver STORM’s value in two minutes,” she said.
STORM has also been practicing its pitch, Burdette said, which she feels was enough.
“We have been doing the rounds with investors as we are currently doing a bridge fundraising round for STORM at the moment.”
She added they submitted their pitch material to Fenox Venture Capital, the organizers of the WSC.
She said that aside from STORM other Philippine startups joining the events as participants are BeamAndGo, Ayannah, Qwikwire, Zennya, Techshake.
Representatives of the Departments of Science and Technology (DOST) and Trade and Industry (DTI), as well as local startups/entrepreneurs, also attended the WSC, as the two agencies are big supporters of startups.