IdeaFarm Inc. was established last year to assist startup companies and individuals pursuing information technology-related projects in designing, developing and testing their work and turning them into successful companies with viable business models and a global perspective.
IdeaFarm is focused primarily on wireless and broadband technologies, software/hardware tools and design, and knowledge-based services.
"We support our IT entrepreneurs or incubatees as we call them, not only with capital but also with strategic tools such as cutting-edge software technology from an industry leader like Microsoft," said Jonathan Madrid, IdeaFarm president and executive director of iAyala Company Inc., the technology holding company of Ayala Corp.
Microsoft will grant IdeaFarm two universal subscriptions to the Microsoft Developer Network. These include royalty-free use of Microsoft operating systems, professional software development kits, and server platform.
Incubatees will also receive in advance the latest Microsoft products, such as the operating system Windows XP which will only be available in the market this year.
"We have partnered with IdeaFarm because we believe in the potential of Filipino IT talents," said Richard Francis, managing director of Microsoft Phils. Inc. "By giving incubatees access to our products, we hope to boost their chances of successfully competing in the global market."
Aside from software subscriptions, Microsoft will be providing free technical consultation and support and selected training seminars to IdeaFarm incubatees and personnel.
According to Madrid, the partnership is an important first step in IdeaFarm’s goal of creating an ideal environment for Filipino IT entrepreneurs who are widely recognized for their skills abroad. IdeaFarm continues to pursue strategic alliances with other software and hardware vendors. It is also coordinating with various e-communities, academic institutions and IT organizations to encourage synergy and networking among industry professionals.
IdeaFarm’s first incubatee, Fluxion Inc., a startup developing wireless applications, is set to launch its initial product with Globe Telecom in July. Other projects of IdeaFarm in the pipeline include startups creating programs for the use of students as well as the enterprise and consumer markets. Through these investments, IdeaFarm hopes to open more opportunities to Filipino IT entrepreneurs in the New Economy.
With incubation facilities at the Cebu Civic and Trade Center Park and University of the Philippines Diliman, IdeaFarm provides seed capital of up to P2 million as well as working space, equipment and high-speed Internet access. It also provides incubatees professional services such as administrative and accounting systems, market and business strategy planning, and investment matching.