DOST-supported tech startup gets Japanese investment

MANILA, Philippines — A Tokyo-based investment fund focusing on educational technologies has invested in a Department of Science and Technology (DOST)-supported tech startup that develops tech-enabled educational tools and resources.

Aside from getting an investment from Leave A Nest Co. Ltd., Wela Online Corp., based in Cagayan de Oro, will also get incubation and mentoring from the Japanese knowledge-based tech venture investment fund.

Enrico Paringit of the DOST Philippine Council for Industry, Energy and Emerging Technology Research and Development (DOST-PCIEERD) said the investment of the Japanese firm in Wela was a strong vote of confidence in a tech startup that has been established and grown with DOST grants. 

Since 2017, Leave a Nest has been involved in the Philippine innovation community through its flagship acceleration program, Tech Planter, which mainly serves as a tech business incubator for Philippine tech startups.

The yearly program aims to discover scientists, researchers and entrepreneurs in the field of “real-tech” who share the vision of  “Advancing Science and Technology for Global Happiness.” 

Wela, established by brothers Chris Ian and John Vincent Fiel, both computer science graduates of Cagayan de Oro’s Xavier University, is a multi-award startup being recognized by different incubators and accelerators in the country including IdeaSpace, and QBO Innovation Hub.

Wela came up with their Wela School Systems, an integrated school management system that provides tools to increase productivity and streamline data management for teachers and a school management solution that informs parent once their children are safely in school when the scan the RFID-enabled identification cards. (rainier allan ronda)

Wela has 27 clients all over the Philippines and has generated over P6 million pesos in revenue from its three years of operation. 

“From the time I met you, I’ve been believing that you have the potential to become the No.1 entrepreneur in Southeast Asia. I’m so counting on you, as you have started up your company at  the age of 24 to challenge education issues which is totally the same story as mine when I started Leave a Nest Co., Ltd. in 2002,” said Dr. Yukihiro Maru, Founder and Group CEO of Leave a Nest Co., Ltd., said in a recent conference with John Vincent Fiel, Wela chief technology officer.

“ We will support you with bridging other Southeast Edu-tech startups and also manufacturing partners from Japan.” he added

“We are happy and excited about this partnership with Leave a Nest. The partnership will support Wela’s growth, but more importantly, it will help us deliver the positive impact we hope to deliver to our users.” said John Vincent Fiel.