In a major win for SolX Technologies Inc., the Philippine government is throwing its support behind the energy startup through the Startup Venture Fund (SVF). Managed by the National Development Corporation (NDC), this move is a game-changer for SolX and the local startup scene.
SolX is also partnering with Japanese investor Real Tech Holdings Co., Ltd., making history as the first recipient of SVF support and Real Tech's first investment in a Philippine company. The investment announcement was made by NDC last 24 October 2023, at the National Development Company Building - Philippine Innovation Hub.
SolX Technologies offers a platform that simplifies energy processes, helping businesses like Converge ICT and Digital Edge Philippines save over PHP 400 million on energy costs. SolX's digital energy platform aims to help local businesses find affordable power options. It is like a marketplace for electricity, giving consumers more control and helping lower power costs.
The P11-million investment from NDC, part of the SVF, supports SolX's mission to make clean energy accessible. Real Tech's investment adds global clout and tech expertise to SolX's journey.
SolX started as a student-led startup in Ateneo and has since evolved to be one of the successful incubatees of the Ateneo Blue Nest, which they later successfully graduated from. The Ateneo Blue Nest, a DOST-supported Technology Business Incubator (TBI), is an incubation program of the Ateneo Intellectual Property Office (AIPO) designed to provide support to students, faculty, and innovators both within and outside the Ateneo community in commercializing sustainable and innovative ideas for the benefit of society.
This investment by the NDC and Real Tech is a positive sign of the Philippine startup ecosystem's commitment to supporting innovative enterprises in the country. AIPO looks forward to supporting more trailblazers set to leave a lasting impact on the Philippine startup landscape.
Want to learn more about the Ateneo Blue Nest? Check out: https://aipo.ateneo.edu/bluenest