SpaceX is currently establishing a local Filipino entity that will be their wholly-owned subsidiary and is targeting to deploy three gateways in the first phase of their launch.
Pres. Rodrigo Duterte signed into law on Monday, March 21, Republic Act 11659 or the amendments to the Public Service Act (PSA), which allows full foreign ownership in key sectors including telecommunications, railways, airports, and shipping.
The DTI Global AQELERATION Program (GAP) is an acceleration and soft-landing program that will help mature Filipino startups enter Southeast Asian markets and support various needs such as business development, fundraising, and other strategic opportunities.
Through IDEA and ADVanCE, the government intends to mitigate the challenges being faced by startups by providing customized interventions and support such as coaching, mentoring, training, and workshops.
The Board of Investments (BOI) recently approved the application of a spin-off company of UP Manila for the commercialization of Community Health Information Tracking System (CHITS) technology.
Due to the pandemic and decreasing budget for research and development (R&D), the Philippines fell by a notch from 50th place last year to the 51st spot in the 2021 Global Innovation Index (GII) report.
Exports were primarily driven by increased global uptake of semiconductors, electronic data processing products, consumer electronics, and telecommunication products.
