Manila, Philippines – Organized by QBO Innovation Hub, a public private sector partnership among the Department of Science and Technology (DOST), Department of Trade and Industry (DTI), JP Morgan and the MVP Group’s IdeaSpace Foundation; Philippine Startup Week 2022 (PHSW22) hosted over 100 events both live and online with an estimated audience of 11,000 last November 2022.
Leading the opening ceremony were the Department of Science and Technology (DOST) Sec. Renato Solidum, Jr., Department of Information and Communications Technology (DICT) Secretary Ivan John Uy, Department of Trade and Industry (DTI) USec. Rafaelita Aldaba, and IdeaSpace Foundation President Rene “Butch” Meily and, QBO Innovation Hub Executive Director Katrina Rausa Chan.
“PHSW22 is a way for Philippine startup founders have the chance to network, explore the different community events, and showcase the startup ecosystem,” Meily said.
Chan expounded, “We want to level the playing field and give Pinoy startups the resources, opportunities, and network they need to be able to compete on the global stage. PHSW22 is a reminder of that goal, and the fact that we’ve seen new founders, and bigger local startup success stories every year since we started, is a testament to how we’re progressing.”
“PHSW22 is a way for Philippine startup founders have the chance to network, explore the different community events, and showcase the startup ecosystem,” Meily said.
Chan expounded, “We want to level the playing field and give Pinoy startups the resources, opportunities, and network they need to be able to compete on the global stage. PHSW22 is a reminder of that goal, and the fact that we’ve seen new founders, and bigger local startup success stories every year since we started, is a testament to how we’re progressing.”
Homegrown Heroes
Working under the theme “Homegrown Heroes: Cultivating Future Tech Giants”, key government agencies, represented by their top officials, revealed milestone accomplishments and future plans of their respective departments.
Usec. Aldaba reported that the Philippine startup ecosystem is currently composed of over a thousand startups, more than 35 incubators and accelerators, over 50 investors, over 200 coworking spaces, and 40-plus venture capitalists, with the Manila ecosystem valued at USD2B.
To further develop the Philippine startup ecosystem, the DTI continues to implement various programs to increase early-stage funding of startups, bolster founder know-how, increase talent quality, strengthen market reach, and more importantly, promote and attract foreign investors, startup founders, and support organizations.
To ensure the continuous growth of Philippine startups nationwide, the DTI launched the Incubation, Development, and Entrepreneurial Assistance (IDEA) Incubation and the Accelerating Development, Valuation, and Corporate Entrepreneurship (ADVanCE), and Global Acceleration Program (GAP) that provide select startups with customized programs designed to help them grow and sustain their companies, including expanding to overseas markets.
“Through these programs, the DTI was able to provide thirty-four (34) PH startups with more than 100 hours’ worth of learning sessions and consultations, hold 3 overseas business matching missions, facilitated almost 100 business matching meetings, and access to around USD4M worth of potential investment.”, USec. Aldaba shared.
As part of DTI’s initiatives to streamline ease of doing business, the DTI recently signed a memorandum of understanding with the Quezon City local government for the Startup QC Program to spur the growth and support the development of innovators in the City, in the hopes of encouraging other government units to take an active role in supporting their local startup ecosystems.
The DTI also formalized the partnership with the Marketing Association of the Philippines, Foxmont Capital Partners, PwC, and QBO Innovation Hub for SCALE, a program that aims to help build resilient and sustainable tech startups by equipping them with knowledge and skills that can grow their businesses.
On empowering Philippine startups to become future tech giants, Usec. Aldaba concluded, “DTI’s vision is to make the Philippine tech startup ecosystem an engine of economic recovery, inclusive growth, and job creation.”
Strengthened DOST Startup programs
DOST Sec. Solidum revealed that his agency has strengthened its programs for the startup community through the launching of new programs that will provide direct funding support to startups. The agency also launched a new program for startup enablers and the regional startup ecosystem. These programs have a total approved funding of P495M.
“The Startup Grant Fund (SGF) Program, aims to provide funding support to innovative startups to overcome R&D roadblocks by means of prototype improvement, conduct of feasibility studies, development of products specifications, as well as validate user requirements, to strengthen their intellectual property (IP) by means of protection and development of the appropriate IP strategies,” he said.
Startups within the priority areas of Sustainable Industries, Education and Learning, Remote Work Productivity, Content and Talent Development, and Industry Data Driven Solutions are qualified under this program.
The Women Helping Women Innovating Social Enterprise (WHWISE) Program supports women-led startups in need of assistance in acquiring technology, R&D, technical assistance, and even mentoring for them to create impact and benefit to more communities. A total of 63 startups and social enterprises were approved for funding under the SGF and WHWISE Program with a total grant of P236.5M
Startup enablers also have the Technology Business Incubation (TBI) program. Run in partnership with higher education institutions, state universities, and colleges, the DOST provides funds to set up a TBI facility in these institutions with the aim of establishing incubation programs and creating services for young entrepreneurs.
“Over the years, the 54 TBIs have collectively incubated and supported 1,364 startups, created more than 5000 jobs, raised over P1.7B in private investments, and generated P766.7M worth of private investments,” said Sec. Solidum. In the next two years, the DOST will be establishing 27 new TBIs in different parts of the country.
The newest program for startup enablers is the Regional Startup Enabler for Ecosystem Development (ReSEED) Program, which will strengthen the startup ecosystem in the regions by providing funding support to DOST PCIEERD-funded Technology Business Incubators (TBIs) to lead in establishing and formalizing a Regional Startup Ecosystem Consortium. Currently there are 9 DOST ReSEED Consortia.
Innovation powers the nation
DICT Sec. Uy encouraged everyone to take part in empowering the nation through digital innovation.
“It has been our mission to provide every Filipino access to vital ICT infrastructure and services, ensure sustainable growth of Philippine ICT-enabled industries, resulting in the creation of more jobs established in one digitized government,” Sec. Uy said.
DICT’s goal is ensuring access to digital service by expanding the Philippines’ digital infrastructure. They are able to achieve this through their ‘Free WiFi for All’ internet access program, the national government data center, and linkages to other satellite system providers and operators,
“All it takes to leap into a digitally transformed Philippines are the following: a visionary to dream, a competitive analyst, a strategic marketer, a humble tech-savvy ally, and most importantly, a healthy, supportive, vibrant startup community strengthened by its actively involved ecosystem players,” he said.
Co-presenting the Philippine Startup Week 2022 were PLDT, 917Ventures, Accelevents, AWS, Microsoft, Pilipinas Shell, along with Accenture, Meta, Xendit, Globe Business, Qapita, AHG, and Jobstreet Philippines. Learn more about the events of PHSW22, visit https://www.phstartupweek.com/ or their Facebook and Youtube @PhilippineStartupWeek.
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