The Philippine government recently launched the country’s first international ICT business incubator hub meant to help local technopreneurs develop their ideas and products in world-class levels.
Dubbed “Palawan International (ICT) Business Incubatorcum Start-up Hub” or Palawan ITBI, it is a collaboration among the Department of Science and Technology-Mimaropa (DOST-Mimaropa), Palawan State University (PSU), Palaweño ICT Association (PICTA) and Make a Difference (MAD) Industries of Malaysia.
Launched at the Palawan State University-Main Campus in Puerto Princesa City, the Palawan ITBI will be operated under the MAD Incubator management framework.
Palawan ITBI is expected to create additional jobs and introduce local technology ventures into the Asean Economic Community including the East Asean Growth Area which consists of Brunei, Indonesia, Malaysia, and the Philippines.
According to DOST-MIMAROPA regional director Josefina Abilay, the Palawan ITBI will allow “ideas to be transformed into products and start-ups can be guided to become full-fledged entrepreneurs.”
The Philippine government through DOST-ICT Office (DOST-ICTO) recently embarked on a five-year strategy of boosting the entrepreneurial ecosystem by launching the country’s first Startup Roadmap that targets to create 500 startups accounting for a cumulative valuation of $2 billion by 2020.