In partnership with the country’s private sector-led digitization movement Digital Pilipinas, the French Chamber of Commerce in the Philippines recently concluded an early-stage startup contest where local education technology platform Edukasyon.ph and e-signature platform Twala proved as victors in a pool of nine Filipino and French startup companies.
The main objective of the pitch competition, aside from gaining the interest of potential investors, is to help startups expand their networking opportunities and meet experts who are well-versed in the “golden era of venture capitalist” idea.
The Startup Pitch Competition launch was held virtually and the startups presented their innovations across health, fitness, real estate, and even machine-learning solutions to potential investors.
“This pitching contest is an illustration of a continuous action of the French Chamber to link Filipino, and French businesses. Amid the Covid-19 pandemic, it is the best time for us to see what needs our attention and how businesses can help. Innovation and creativity brought by startups are crucial,” said French ambassador to the Philippines Michèle Boccoz during her opening remarks.
Boccoz mentioned a study by Core Venture Capital that revealed the aggressive growth of the Philippine startup ecosystem based on the $858 million raised only in the first ten months of 2021 – a number equal to the total equity raised from 2017 to 2020.
“The Philippines ended 2021 as the fastest-growing internet economy in Southeast Asia, posting a gain of 93% from 2020,” she added.
The competition worked on several areas for the startups. These companies were given exposure by pitching to multiple investors, feedback, network expansion, opportunities to build partnerships, and even an avenue to secure funding that will accelerate their businesses.
Moving forward, there are plans to ramp up the efforts of Digital Pilipinas this year, bringing together businesses, tech leaders, and policymakers. In the coming days, the movement will be launching an API platform and Web 3.0 program to highlight the Internet of Trust and the Internet of Money concepts.