917Ventures, the corporate venture arm of the Globe Group, is building generative artificial intelligence (AI) as part of the strategy to pivot from the traditional telco to techco.
“We are building generative AI products to strengthen our tech capabilities. For 917Ventures, the goal is to strengthen our telco-to-techco strategy and to build the next generation of great companies in the country by maximizing all of the assets of the Globe Group,” said Vince Yamat, 917Ventures managing director.
Generative AI holds the potential to revolutionize how people and organizations create, innovate, and operate, making processes more efficient, personalized, and forward-thinking.
This cutting-edge AI technology, known for its ability to autonomously generate text, images and other media, is redefining the paradigms of digital innovation.
In addition, 917Ventures will continue to scale its digital health product, KonsultaMD for the remainder of the year.
It is also bullish on B2B Software as a Service (SaaS) to enable Filipino micro, small, and medium-sized enterprises (MSMEs).
917Ventures is also looking at several climate tech initiatives in line with its sustainability commitment. Through collaboration with Ayala Corp. and Gogoro, 917Ventures’ Gogoro Philippines will make Gogoro smart scooters and innovative battery-swapping technology available in Metro Manila by the fourth quarter of 2023.
917Ventures owns a track record of building and supporting entrepreneurs. Thus far, it has vetted over 500 ideas and launched 26 ventures.
This year alone, 917Ventures introduced three new portfolio companies to the market, bringing its total portfolio to 14. These are PetPal, which offers fast and accessible pet care and lifestyle solutions; Housify, a broker productivity suite designed to provide quality leads and unparalleled support; and Capitan, a tech-driven consulting service dedicated to guiding Filipino entrepreneurs.
Further showcasing its achievements, 917Ventures reported that its e-commerce platform RUSH has acquired and served 1,400 merchants this year. Additionally, online bootcamp KodeGo has successfully graduated 1,440 individuals.
With its strategic move into generative AI, and with ongoing initiatives in various sectors, 917Ventures solidifies its position as leader in technological innovation and entrepreneurship. As it moves into new territories, it remains steadfast in its mission to harness the power of technology for the betterment of society and the environment.
