Philippine govt urges VCs to invest in local startups

The Philippines’ Department of Trade and Industry (DTI) is urging venture capitalists to invest in local startups as the country continues to improve its position on the global innovation index.

DTI reported that the Philippines climbed to 83rd rank from its 100th position in the 2015 global innovation index of the World Intellectual Property Organization (WIPO).

“There is no better time for the Philippines than now,” said DTI Industry Promotion Group (IPG) undersecretary Nora Terrado, noting promotional initiatives for startups and innovation in the Philippines continue to add up.

Also Read: Exclusive: Philippine VC Future Now Ventures invests in IoT startup Reekoh

Terrado said, what qualifies Philippines’ to be the next innovation hub in Asia is its strong compliance to the intellectual property rights protection. On a regional scale, the country ranked second for both patent protection and IPR protection in 2014.

And with over 30 Filipino inventors holding 23 patents assigned to 12 foreign companies, DTI sees startups as viable catalysts to the information era.

“There are stories of success in the Philippine startup scene. What we can do is to encourage these startups, link them to venture capitalists, and help them to improve their capacity to enter the global economy,” Terrado said.

Also Read: Philippine startup community gains more ground in 2015, gears for drastic changes this 2016

But aside from technoprenuership, she said, DTI is also looking into developing a new breed of small and medium enterprises in the field of agriculture, biotechnology, electronics, e-commerce, among others.

DTI is scheduled to hold its Slingshot Philppines (SlingshotPH) 2016, a startup conference at the World Trade Center Tent in Pasay City, from April 21 to 26 . SlingshotPH was organised last year to serve as an annual event meant to get the small businesses at the centre of global and regional trade.

In August 2015, the ICT Office of the Department of Science and Technology (DOST-ICTO) launched its first ever tech startup roadmap targeted at creating 500 startups accounting for a cumulative valuation of $2 billion by 2020.

Also Read:

Philippines: Narra Venture Capital targets fintech, edtech & healthtech startups

Philippine tech startup roadmap guns for 500 startups with $2b valuation by 2020

Philippine govt launches first global ICT biz incubator hub

Philippines 2015: These 16 tech-driven startups made a mark as investors bought into their ideas

Philippines: Fintech startup Pitaca raises funding from Carillion Partners

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.