Acudeen Technologies, a startup that helps small and medium enterprises (SMEs) overcome financial constraints, recently bagged equity investments of up to $500,000 after besting other participants from over 66 countries in the SeedStars World Summit in Switzerland.
Founded by a Filipino startup entrepreneur Mario Jordan “Magellan” Fetalino III, Acudeen Technologies is a financial-technology company that provides support for Philippine small businesses coping to make ends meet as they await payments from their clients.
Financial stability is one of the top problems faced by most micro, small, medium enterprises (MSMEs) in the country. While MSMEs acquire big contracts with larger companies, they find themselves financially disabled while they wait for their invoices to be paid that are usually in 30-60 day cycles. This scheme forces most MSMEs out of business. With this prevailing problem, Acudeen Technologies provides an innovative solution. It transforms SMEs’ invoices into cash through discounting of their receivables providing them with necessary working capital which they fail to get from banks.
“This is an outstanding work of a Filipino entrepreneur which does not just boast of the innovative capacity of Filipino startups to provide solutions to existing problems, but also reflects the bayanihan spirit among Filipinos that continue to help our small businesses in the country to thrive,” said Department of Trade and Industry’s Trade and Investment Promotion Group Undersecretary Nora K. Terrado.
“We hope to encourage more startups like this in furthering our innovative economy. We encourage them to avail various initiatives of the public and private sector such as the QBO Innovation Hub,” added Terrado.
The Philippines, with increasing collaboration between the public and private sector, continues to urge more local entrepreneurs to explore various opportunities that technology offers for businesses. Through DTI, the Philippine government forwards the development of the startup ecosystem in the Philippines through the Startup Ecosystem Development Program (SEDP).
Recently, DTI together with Departments of Science and Technology (DOST) and the Information and Communication Technology (DICT) with Ideaspace Foundation and JP Morgan launched the QBO Startup Enablement Programs that aim to cater to the needs of the growing startup ecosystem in the Philippines.
By JUNE S. BLANCO
SCIENCE and Technology Secretary Fortunato de la Peña is slated to launch in Ubay town on Thursday, May 4, two projects that will make the internet accessible and practical to residents in Bohol’s 2nd District.
Rep. Erico Aristotle Aumentado said expected to be with de la Peña are the members of the House Committee on Science and Technology which the former chairs.
The secretary will launch “STAR Books” – an interactive research module in the internet for all high schools, initially in Ubay, the whole district and eventually, the whole Bohol.
STAR Books is a spin from the department’s Science Teacher Academy for the Regions (STAR) project that seeks to provide an organized scheme of innovative trainings in science, technology, engineering and mathematics. It braces for the country’s need for S & T capable teachers to meet the requirements for the K-12 program of the Department of Education.
The launch will be the kick off activity for the nationwide launch.
De la Peña is similarly slated to launch the “Rx Pod” to be set up initially at the Ubay town hall. It is a mechanism that allows a patient to consult – free of charge – with doctors of the Department of Health.
Should that patient’s ailment require medicines that need a doctor’s prescription, the Rx Pod prints the same out for presentation to the pharmacist.
The Rx Pod will ultimately be available in the whole district, and later, the while province and beyond.
De la Peña’s visit underscores his support for Aumentado’s branding strategy to make local products competitive even in outside-Bohol markets.
The House Committee is expected to conduct public hearings and consultations to determine if there is a need for an S & T officer in each local government unit (LGU). He or she will be mandated to, among others, assist local scientists in developing the quality, shelf life and packaging of their products to make them competitive in and outside of Bohol.
TAGBILARAN CITY, April 21 (PIA)–In response to the regional task group managing the security for the meetings of the Association of South East Asian Nations 2017 (ASEAN 2017) in Bohol, marine task groups in Bohol are implementing a 500 meter no sail zone in front of the Alona stretch of beach.
The policy is in effect until the end of the ASEAN 2017 meetings in Panglao.
Seaman (SN1) Ralph Barajan, deputy chief of the Philippine Coast Guard (PCG) Detachment in Panglao bared this as Bohol Task Group Commander PCSupt Noli Taliño earlier issued the “no sail, no flight” policy over Alona Beach.
This is to add up to the implemented security measures to protect the international and local delegates to the ASEAN trade meetings held at the Hennan Resort and some top level meetings at the Amorita Resort on the southeast end of the 1.5 kilometer stretch of beach.
“We are implementing a 500 meter from the coastline demarcation line for sail boats from the Amorita to Kalipayan Beach on the south west end, SN Barajan revealed.
The PCG elements are not the only ones making sure that navigation by any craft in the area is restricted.
Also there to help secure the sea area fronting the famed Alona stretch are the floating assets of the Philippine Navy and the Philippine National Police Maritime Group.
The Philippine Air Force is also tasked to insure that the airspace over Alona is cleared, PNP regional sources reported.
This too as the local government of Panglao implements the ordinance finally designating a one-stop area for tourist boats ferrying guests to dolphin and whale watching as well as island hopping tours.
Panglao mayor Leonila Montero said they have designated a unified pick up and drop off for tourists in a bid to streamline policies in implementing marine safety and safety of beach fronts.
The municipal docking facility at the back of the church in Panglao has been picked as a station wile local officials are reportedly eyeing to put up more in areas where resorts congregate, if only to allow faster tracking of boats and PCG safety inspections before embarking on marine tours, PCG said.
Earlier, PCG Bohol District Commander Lieutenant Junior Grade Jimmy Berbo, who has a long record of experience in maritime safety, has also suggested a streamlined docking policy just as the Maritime Industry Authority of the Philippines has campaigned for registration of all boats used for public conveyance.
This also helps assure tourists that the boat they contracted to serve is registered, insured and tracked by the maritime authorities for protection and safety assurances.
Tour guides said the policy of a designated station could help control the operation of illegal fly by night colorum bancas.
Panglao, along with the PCG Panglao detachment has finally implemented Philippine Coast Guard Memorandum Circular 03-14 dated April 2014, as the government asserts safety of beaches in front of resorts, and in Bohol especially at its prime 1.5 kilometer fine white sand beach showcase of the Alona stretch.
A turn-off for tourists owing to the uncontrolled boat parking and dropping of anchors massively ruining its snorkel areas, Alona has also been widely criticized for allowing access to boats with propellers dangerously within the swimming and snorkel areas, practically accidents waiting to happen.
The boat parking is also blocking the sea view and the gorgeous sunsets.
Recently however, authorities have started to see the logic in keeping Alona and its prime beaches cleared of these hazards.
As this developed, Boholanos have praised the Panglao local officials and the PCG and openly hoped that the safety policy is sustained even beyond the ASEAN. (rahc/PIA-7/Bohol)
TAGBILARAN CITY, April 21 (PIA)–Local government officials here are not taking any more chances: they are mobilizing information force multipliers against threat groups inside and outside Bohol.
At the Press Briefing for the updates on the Inabanga clash between government troops and Abu Sayyaf Group members, Police Task Group Commander PCSuperintendent Noli Taliño hinted the need for a tight dragnet that could snag the remnants of the clash who are on the run and may slip out of Bohol through stolen boats.
Earlier on that same day of the briefing April 17, Governor Edgar Chatto said he met Bohol Congressional representatives, Bohol Provincial Officials, mayors and Municipal Local Government Operations Officers to cascade the mandate to form the dragnet that they would spread across all coastal towns to watch for any attempt to escape.
The expressed instruction is: convene all coastal law enforcement (CLE) groups, fishermen organizations and commercial fishers to help in the efforts to keep Bohol safe.
Bohol has 29 coastal towns of its 48 towns and organizing these fisher groups and commercial fishers as additional eyes and ears can well boost Bohol’s efforts to enforce an impenetrable wall from the outside and a containment that does not allow just anybody to slip through.
Marginal fishermen, commercial fishers, they can be our help in watching our coastal areas from any stranger groups leaving or landing, a police security officer at the briefing sidelines explained.
While intelligence officials have hailed Bohol’s community based Purok Power movement which helped spread the information about the incursion of the ASG bandits over ten kilometers upriver, the governor stressed, “everyone realizes the defense of the community in not just a task of the police and the military.”
Army intelligence officer Lt Col. Adolfo Espuelas Jr., however was positive that the 7 ASG remnants of the encounter are still contained in the area around Napo, Canlinte, Cawayan, Dagohoy and Lonoy, in the hinterlands of Inabanga.
In a hostile community, the remnants of the clash are demoralized, left with few ammunition, have no food, no sleep and practically no capacity to consummate what they intend to do, Col. Espuellas said.
Army intelligence also bared that the firefight that almost lasted 24 hours, left the ASG’s local contact Joselito Melloria with a wound in the left back shoulder and left foot, another young fighter with a wound in the right leg and yet another fighter with wound in the right buttocks.
Intelligence also reports that the remnants have only 3 M16 rifles, one fitted with an M203 grenade launcher, one M14, a depleted ammunition supply, an analog cell phone with spare batteries, no food, no local support, have been sleepless and are on the run without any more capacity to fight.
At the same meeting, Gov Chatto told media that he pressed on the role of civilians in the side of law enforcement against terrorism and criminality even as he cited the role the children played that led to the thwarting of the ASG terror plans.
“The mayors resolved to strengthen all towns, barangays and puroks especially their coastal areas,” Chatto appraised the Bohol media during the briefing.
Even then, President Rodrigo Duterte announced that the government is giving a cash bounty of a million pesos to anybody who could positively share information leading to the arrest or neutralization of the remaining bandits in Bohol.
He also urged civilians to help as he hinted a government move to arm the civilians to help pursue the bandits. (rahc/PIA-7/Bohol)
TAGBILARAN CITY, April 19 (PIA)–To ring the message across that he abhors criminalities, President Rodrigo Duterte issues the order to just anyone: get them, dead or alive.
And by everyone, his order did not just mean for the government operatives, he also addressed to civilians willing to finally end the terror and hunt down the remnants of the group of armed Abu Sayyaf bandits contained in the fields of Inabanga.
Coming to Bohol not on his official, but on his personal schedule, President Duterte who just came in from a state visit in the middle east immediately flew to Bohol to be briefed on the Inabanga incident that left 3 military, one police and 4 deaths from the notorious kidnap for ransom group.
Two of those who died were a couple identified as relatives of the local guide of the bandits are still under investigation, explained Armed Forces of the Philippines chief of Staff, General Eduardo Año.
Government troops sweeping the war zone also recovered bomb making tools and electronic parts that can be used to manufacture bombs.
The Abus Sayyaf incursion to Bohol, over 600 kilometers from their strongholds in Basilan, happened in time for the international gathering of leaders of the countries in southeast Asia in Panglao.
“I am here just to warn everybody, my order is to demolish them,” Duterte spoke to Bohol and national media after an hour and 45 minutes of briefings of the Inabanga incident and the Association of Southeast Asian Nations (ASEAN) Trade meetings set from April 18-21, at the Hennan Resort in Panglao.
“To civilians interested to fight and kill, my order [to them] is dead or alive,” the President was again fearless of the repercussions of his hard and unwavering stance against criminality.
He also announced he is raising the one million pesos bounty for every member of the Abu Sayyaf stragglers hiding in the vicinities of Napo, in Inabanga, Bohol.
Earlier, the provincial government posted a P100,000 bounty per head for anyone who could share information leading to the capture any one of the 7 bandits.
Now led by a local recruit Joselito Melloria, the bandits could not go far as three of them were wounded, according to Armed Forces of the Philippines Intelligence officer Lt. Col Adolfo Espuelas Jr,.
Espuelas, who head the Intelligence Service of the AFP said Melloria nurses a wound in the left back shoulder and left foot, another young fighter with a wound in the right leg and yet another fighter with wound in the right butt.
The strugglers have only 3 M16 rifles, one fitted with an M203 grenade launcher, one M14, a depleted ammunition supply, an analog cell phone with spare batteries, no food, no local support, have been sleepless and are on the run without any more capacity to fight, Espuelas added.
In rounding up the citizens as well as the government troops to account for the fleeing bandits, the apparently tired president who earlier came to the security briefing on the Inabanga incident and the Bohol said, he wants them dead, not alive to skip from the trouble of feeding criminals.
The President also clarified that the order also applies to drug personalities and terrorists. (rahc/PIA-7/Bohol)