The Department of Trade and Industry (DTI) launched on Tuesday, April 29, the Philippine Innovation Hub (iHub), an initiative designed to provide comprehensive support to startups and micro, small, and medium enterprises (MSMEs) at every stage of their development — from ideation to global expansion.
“We are fostering an entrepreneurial ecosystem that empowers not only our startups but also our MSMEs — the backbone of our economy, comprising 99.5% of our businesses and 60% of our workforce,” said DTI secretary Cristina A. Roque in her recorded speech.
“This hub is not just a physical space, but a vision brought to life, designed to cultivate innovation. It is a launchpad for creativity, providing startups and established MSMEs with the resources, mentorship, and investment they need to thrive,” she added.
Located within the Marikina Enterprise Center and operated by the DTI’s National Development Company (NDC), the five-story facility will leverage the expertise of iHub and its knowledge partners to deliver incubation and acceleration programs.
The programs will encompass an organizational development workshop, a one-stop shop, a shared service facility, retail and coworking spaces, and a physical venue for events hosted by its private and public sector partners.
“While Marikina has long been known as the footwear capital of the Philippines, today it takes a bold step toward hosting the Philippine Innovation Hub. This is a strategic move to equip our entrepreneurs, creatives, and tech talents with the tools and opportunities they need to thrive in the modern economy,” said Marikina 2nd district representative Stella Luz A. Quimbo.
The iHub has set an initial goal of supporting 50 MSMEs and 50 to 75 startups in its first year, projecting significant growth to reach 500 to 750 startups and 500 MSMEs within a five-year timeframe.
