startups

Despite the record amounts of funding flowing into the greater Asia Pacific region, Philippine start-ups are facing one major obstacle -- the lack of investments in the country’s start-up market.

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.

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.

Fourteen start-ups from all over the Philippines pitched their “ideas for the future” in IdeaSpace’s annual demo day on Thursday, Jan. 20.

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.

Last November 16, 2021, the PSC announced the Top 5 winners for the Professional Category. The winners were eligible for DICT’s Startup Grant Fund worth P500,000.00 and also received cloud vouchers, monitors, and HMS app development training from Huawei.

To demonstrate its precision addressing platform, Korean startup geo.nick has is giving away $6,200 for Filipinos who would take photos, videos, or illustrate unique spots in the Philippines and tell a special story behind it.

The runners-up were technology startups that also promote livelihood and support sustainability:  Panublix from Iloilo City, an online marketplace for indigenous weavers; and SACHI-Group Inc., a Bulacan manufacturer of eco-friendly materials.

The National Development Company has allocated P250 million ($5 million) venture fund for innovative Philippine startups in the Seed to Series B stage.

The Gobi-Core Philippine Startup Ecosystem Report 2021 said with the growing number of investments in the local market, the Philippine startup ecosystem has begun changing for the better.