STUDIES show that nearly 90 percent of startups eventually fail, leaving only 10 percent surviving to continue their journey. Startups’ success depends on their ability to innovate, and transforming their ideas and scaling up operations require not just luck but proper mentoring and the right network.

Eight startups received a P500,000 equity-free grant from Makati City after the qualifying pitching competition held on April 8 to sustain their development, while the founders attended a 12week training program that will prepare them to pitch to qualified investors properly.

On August 9, some of the country’s top investors and innovators met with the eight qualified startups for the culmination of the RISE (Resiliency Innovation Sustainability Entrepreneurship) Pitch Night. The event is their final pitch to investors to open new investment opportunities.

“For the past 12 weeks, you have undergone rigorous training and mentorship from the industry’s best minds,” Makati City Mayor Abigail Binay told the eight startups. She also commended the RISE program for providing opportunities to up-and-coming entrepreneurs with ideas to offer.

Binay added, “Initiatives like the RISE program are so important, and they provide a platform for entrepreneurs to showcase their talents and turn their gamechanging ideas into reality.”

Hosted by the investment holding company Ronin Group in collaboration with the local government of Makati City and the University of Makati, the RISE certification program aims to create a sustainable and scalable pipeline.

The program seeks to democratize innovation by accelerating startups from all levels of society and placing them in front of qualified investors.

Ronin CEO and co-founder Yani de Guzman said the RISE initiative was established to gather creative minds and provide them financial access through funding and mentoring.