Startup Philippines: Comparing Philippine Accelerators to 1Mby1M – Strengths, Weaknesses, and Opportunities

The Accelerator Conundrum is a multipart series that challenges the prevailing wisdom of the tech startup ecosystem that entrepreneurs should Blitzscale out of the gate. Written by Sramana Mitra, the Founder and CEO of One Million by One Million (1Mby1M), the world’s first global virtual accelerator, it emphatically argues that a better strategy is to Bootstrap First, Raise Money Later, focus on customers, revenues and profits. 1Mby1M’s mission is to help a Million entrepreneurs reach a million dollars in annual revenue and beyond. Sramana’s Digital Mind AI Mentor virtually mentors entrepreneurs around the world in 57 languages. Try it out!

In the previous post, we explored the key players shaping the Philippines’ startup ecosystem: QBO Innovation Hub, IdeaSpace Foundation, Impact Hub Manila, Launchgarage, and others.

Each of these organizations plays an important role. Collectively, they have elevated awareness of entrepreneurship and seeded a growing innovation culture. Yet, when we analyze them more deeply through the lens of The Accelerator Conundrum, critical gaps emerge—especially when compared to a global, continuous accelerator like 1Mby1M.

The Fundamental Problem: Time-Bound Acceleration

Most Philippine accelerators follow the traditional cohort model, offering three- to six-month programs culminating in a Demo Day.
While this creates short-term excitement and visibility, it does not match the real-life trajectory of a startup.

Company-building takes years, not months. Founders often face their toughest challenges after the program ends:

• Scaling customer acquisition sustainably.
• Refining unit economics.
• Expanding regionally or globally.
• Raising capital strategically rather than reactively.

Without continuous mentorship, many Filipino founders struggle once they leave the protective umbrella of their accelerator.

Fundraising Bias and Premature Scaling

Another common issue is overemphasis on fundraising.
Local accelerators tend to measure success by the amount of capital raised during or shortly after the program. This can push founders to raise money prematurely, before validating their business model or product-market fit.

For a country like the Philippines, where the venture capital ecosystem is still developing, this creates two problems:

1. Pressure to grow unnaturally fast, leading to unsustainable burn rates.
2. Dependency on foreign investors, who may not fully understand local market dynamics.

The 1Mby1M Difference

1Mby1M takes a fundamentally different approach:

• Bootstrap first, raise later: Teach founders to build sustainable, revenue-generating businesses before seeking external capital.
• Continuous virtual mentorship: Available 24/7, with no artificial program end date.
• No equity dilution: Founders keep 100% of their company.
• Language accessibility: With the Digital Mind AI Mentor, founders can now receive guidance in Filipino/Tagalog, making advanced entrepreneurship education accessible nationwide.
• Global exposure: Direct connections to mentors, investors, and corporate partners worldwide.

Comparison Table: Local Accelerators vs. 1Mby1M

Key Takeaways

1. Local accelerators excel at community building, government collaboration, and corporate pilot opportunities.
2. However, they lack long-term structures to guide founders through the grueling years of scaling a company.
3. 1Mby1M’s virtual, continuous model complements local strengths by providing deep, sustained strategy support and access to global resources—without requiring founders to relocate or give up equity.

In Part 4, we’ll synthesize this analysis, exploring how Filipino founders can combine local accelerators and 1Mby1M to create a hybrid path to sustainable, scalable success. This dual approach can help startups bridge local opportunities with global competitiveness.

One Million by One Million (1Mby1M) is the first global virtual accelerator in the world, founded in 2010 by Silicon Valley serial Entrepreneur Sramana Mitra. It offers a fully online entrepreneurship incubation, acceleration and education resource for solo entrepreneurs and bootstrapped founders working on tech and tech-enabled services ventures. 1Mby1M does not charge equity, offers an AI Mentor in 57 languages, and offers a distinct advantage over other accelerators including Y Combinator.

This segment is a part in the series : Startup Philippines