Accelerating Innovation: Government and stakeholders Unite to Supercharge the Ph Startup Ecosystem

Accelerating Innovation: Government and stakeholders Unite to Supercharge the Ph Startup Ecosystem

The Department of Information and Communications Technology (DITC) has inked a memorandum of understanding (MOU) with DFNN Group of Companies, and Plug and Play Tech Center, to harness the power of startups in the Philippines.

The MOU was signed by DICT Secretary Ivan John Uy, Jojo Flores of Plug and Play Tech Center, and Ricky Banaag of DFNN Group of Companies during the recently concluded 6th Geeks On A Beach held at Panglao Island, Bohol.

“This initiative powered by Plug & Play sets out to come up with forward-looking strategies to harness the power of startups, injecting new ideas and creativity into the startup industry as well as prompt the growth of an intellectually-based economy,” said Flores.

According to Flores, the MOU is seen to accelerate the growth of the startup community in the Philippines, taking a bigger chunk of the US$3.5 billion tech/startup industry.

“We need to protect our interests where we build the products of technology and artificial intelligence (AI) by bringing everyone to build these new tech industries to protect our local industries as well, in terms of the tech/BPO industry, electronics assembly, and the like,” Flores added.

The MOU which signifies the strong collaboration of various public and private sector initiatives, is aimed at supporting the startup industry, thereby fueling the nation’s employment, bolstering foreign exchange reserves, and technological innovation that can push forward the overall economic expansion of the Philippines.

According to the MOU, stakeholders together with the government shall establish the Horizon Philippines program to catalyze the creation of new intellectual property assets that will contribute to the growth of an IP-based economy.

This approach will not only help diversify the economic landscape but will also position the country to thrive in an increasingly knowledge-driven and competitive global economy, the agreement reads.

He further said that by creating and building local tech products, the country can also use the same products to resell to other countries. The whole idea is to leverage the service industry and create and sell these to the world market.

At present, about 100 startups are making new products for the Information, Communication Technology (ICT) industry.

“Money and funds are in the private sector. Startup support funds from the private sector over the last three years raised a billion dollars from global investors and 90 percent of that is Foreign Direct Investments (FDIs). Let’s help shape our nation’s startup growth and development,” Flores noted.

Plug and Play Tech Center provides venture capital investment services. The company specializes in technological venture capital advancement by connecting blue chip corporations in industry trends as well as provide consulting services.

DFNN, Inc. is a Philippines-based information technology (IT) solutions provider and systems integrator. The Company is engaged in the provision of information technology services to financial institutions and gaming companies. It develops, operates, and maintains Web-based and wireless applications for major corporate customers with strength in solutions for financial institutions and gaming companies and provides proprietary order routing software technology and Web-advertising services to stock brokerage firms. Through its subsidiaries and affiliates, the Company also possesses licenses for electronic gaming machines (EGMs), a sports betting exchange, and digital and pari-mutuel games with the Philippine Amusement and Gaming Corporation (PAGCOR).

DICT says PH startups ecosystem is vibrantly growing

DICT says PH startups ecosystem is vibrantly growing

PANGLAO, Bohol — Department of Information and Communications Technology (DICT) secretary Ivan John Uy opened the two-day Geeks On A Beach (GOAB)2023 international conference, Thursday, November 23-24 confidently stating that the vibrant startup ecosystem in the Philippines has been promisingly growing, with more than 1,100 startups, 60 incubators and accelerators, 50 venture capitalists, and more than 200 co-working spaces nationwide that enable collaboration.

“It is truly an honor to stand before you as we kick off the sixth edition of Geeks on a Beach. As we gather here, it is heartening to see that through our joint efforts, we have transformed the Philippines into a pivotal regional hub for startups and digital innovation. This is a statement of fact. Our vibrant startup ecosystem has been promisingly growing,” Secretary Yu said.

Yu added that the essence of Geeks on a Beach lies in the convergence of diverse minds and he is optimistic that this year’s event sees a limitless potential and a perfect backdrop for groundbreaking ideas to take flight.

Geeks On A Beach 2023 in Panglao is attended by nearly 1000 guests, technopreneurs, investors, startup hustlers, venture capitalists, angel investors, and others after a hiatus of five years.

Secretary Uy further said, the DICT commits to accelerate digital transformation and nurture the growth of the country’s startup community by launching programs aligned with the Innovative Startup Act of 2019.

“This law provides the blueprint for the advancement of the Philippine Startup Ecosystem and supports our startups by providing funding and mentorship mechanisms and streamlined processes,” Uy noted.

The conduct of the GOAB in time for this year’s Philippine Startup Week shows the limitless potential inherent in Filipino technopreneurs. “Investing in Filipino Homegrown Heroes as Global Game Changers,” encapsulates our unwavering dedication to providing the necessary support for our local Startups to thrive,” Secretary Uy concluded.

Founder’s panel discussion insights

Right after the DICT secretary’s keynote was a panel discussion with some of the startup founders in the country namely; Roland Ros, CEO and Founder of Kumu; ER Rollan, CEO and Founder of GrowSari and Steve Sy, Founder of Great Deals Ecommerce.

These three founders were one in saying that the biggest challenge in the startup industry is understanding the whys and the type of mindset to have in starting a company and building a startup.

Roland Ros said, sacrificing everything for the motherland is worth it in making a difference to operate in the environment of efficiently growing into a unicorn and becoming a sustainable business.

ER Rollan noted that understanding the whys and how mindset in establishing a company, and be prepared to be at the last benefactor of your endeavor. “That is the toughest part of a startup. The next unicorns of startups will come from the Philippines,” he added.

Steve Sy of Great Deals E-Commerce said that for every challenge there is an opportunity and this gives people values. e-commerce is fast paced; the challenge is to adopt to the growing e-commerce technology.

“As an entrepreneur, you don’t get much sleep but getting up and thinking in upscaling, growing your revenue with minimal expenses. The key to startups is an efficient scale/upscaling for all founders,” he said.

These three are all homegrown prominent startups in the country that still faced so much challenges in efficiently managing their startup business, but with the Philippines coming up as an emerging and the fastest growing economy in Asia, they see that 2024 is the base for the startup ecosystem in PH to grow.

GOAB Hosts Exclusive Investor’s Roundtable Dinner as Prelude to Main Event

GOAB Hosts Exclusive Investor’s Roundtable Dinner as Prelude to Main Event

As a prelude to the highly-anticipated 6th annual Geeks On A Beach (GOAB) conference, an exclusive Investor’s Roundtable Dinner is set to take place on November 22, 2023, at the Bellevue Resort Hotel in Panglao, Bohol. This intimate gathering provides a unique platform for private discussions about investment topics relevant to the region and beyond.

The dinner, themed “By Investors, For Investors,” aims to foster a constructive dialogue among participants on a variety of subjects, including investment opportunities, valuations in the ASEAN ecosystem, and the creation of a robust investor community.

With the presence of prominent figures from the investment sector, such as venture capitalists (VCs) and angel investors, the night ensures insightful exchange and networking. VCs are professional investors who inject substantial funds into high-growth tech startups for equity and a role in governance. Angel investors, on the other hand, are affluent individuals who provide earlier, often smaller-scale investments in exchange for equity or convertible debt, offering financial backing when the venture is at a more nascent and riskier stage.

The event boasts an impressive roster of attendees, including esteemed speakers, entrepreneurs, and investors from across the globe, such as Chris McCann, Race Capital (USA); Franco Varona, Foxmont Capital Partners (PH); Paulo Campos, Kaya Founders (PH); Katrina Rausa Chan, QBO/IdeaSpace Philippines (PH); Jeremy Au, Monk’s Hill Ventures (SG); Pun Jaruthassanakul, Seedstars (TH); Jojo Flores Plug and Play Tech Center (US, PH); Adriel Yong, Ascend Angels (SG); Mohan Belani, e27 (SG); Orvel Ventures (SG); Jay Fajardo, Launchgarage (PH); Mark Sng, Gentree (SG, PH); Sohun Bae, AVV Ascend Vietnam Ventures (VN); Joon Cho, Abound Capital (SG); Martin Cu, 500 Global (PH + WW); Kickstart Ventures (PH); Patricia Sosrodjojo, Seedstars (TH); and Joseph de Leon, Manila Angels Investor Network (PH).

The evening will feature a presentation on the Philippine Venture Capital Report by Franco Varona of Foxmont Capital Partners and an open facilitated discussion led by industry veterans.

The GOAB6 Investor’s Roundtable Dinner requires an Investor’s ticket for participation. This ticket grants all access to the conference’s extensive lineup of activities from November 22-24, including the Pre-Conference Masterclasses and the main event, which promises deep dives into the startup landscape, enriched with insights and international perspectives.

“The Investor’s Roundtable Dinner is a testament to our commitment to providing a fertile ground for investment dialogues and partnerships. It sets the tone for what will be an eventful conference, teeming with opportunities for growth, innovation, and collaboration,” stated Tina Amper, Co-Founder of #geeksPh, the non-profit organization behind GOAB.

As part of the Philippine Startup Week, GOAB6 represents the pulse of the Philippine tech startup ecosystem in harmony with the global community. After a five-year hiatus, GOAB is back with a more significant and bolder vision, celebrating the growth and potential of the Philippines.

GOAB is a conference for partnerships, growth, and innovation in startups, tech, and design, unleashing opportunities to collaborate in the Philippines and beyond.

With the conference featuring a selection of international speakers and a showcase of promising startups from the region, GOAB6 stands as a vanguard for tech innovation in the Philippines. Interested investors and individuals seriously interested in investing in startups are encouraged to secure their spots for an evening that promises to be both enlightening and inspiring.

To purchase tickets to the GOAB Investor’s Roundtable Dinner and the main GOAB6 conference, visit https://www.geeksonabeach.com/.

Geeks On A Beach: PH startups eyeing $1-billion in funding deals this 2023

Geeks On A Beach: PH startups eyeing $1-billion in funding deals this 2023

Startups in the Philippines have quietly won $1-billion in total funding deals for two straight years in a row in 2021 to 2022, and there are indications they could continue the winning trend.

New funding deals may yet to be clinched at the Geeks On A Beach (GOAB) international conference on November 22 to 24 at Panglao Island in Bohol, which gathers startup founders, entrepreneurs, software engineers, technologists, venture capitalists, corporates, government, and other stakeholders.

“In 2010, Filipino startups raised $40-million in funding. This has gone up 27 times to $1.03-billion in 2021 and $1.1-billion in 2022. This is a vote of confidence for Filipino startups that ought to be celebrated and continued,” said GOAB founding organizer Tina Amper of GeeksPH, referring to a highlight of the Philippine Venture Capital Report 2023.

Amper said that Filipinos’ share in funding available or won across the region has grown for the past three years, as she expressed elation over the rosy report by Foxmont Capital Partners.

“Comparing the aggregate deals closed by country, the Philippines has increased its stake relative to neighboring Southeast Asian countries over the last three years. The Philippines more than doubled from two percent in 2020 to five percent 2021, and further grew to nine percent in 2022. This once again shows that Philippine deal growth is reaching admirable levels compared to its neighbors,” said the Foxmont study.

“Deals” are venture capital transactions where startup companies raise capital from external sources, which include financing received from venture capital funds, angel investors, angel groups, accelerators, incubators, corporate venture firms, corporate startup investors, joint ventures, private equity funds, mergers and acquisitions, grants, and crowdfunding.

For Amper and GOAB co-organizers, startup successes mean more entrepreneurs, more employment, more contributions to the economy, and more benefits for the Filipino public.

On the consumer side, perhaps the most well-known among startups and related businesses are those in e-Commerce and Fintech.

The e-Conomy SEA Report 2022 says the value of Philippine e-Commerce market has grown exponentially from $3-billion in 2020 to $14-billion in 2022.

Statista meanwhile said that total mobile wallet transactions, led by dominant leader GCash, amounted to $28.6-billion in 2022, or almost twice the figure in 2021.

The Philippines has also approved licenses for six digital banks that aim to make the financial system more inclusive: Overseas Filipino Bank, Tonik, UNO, Maya, UnionDigital and GoTyme. Universal, commercial and rural banks are also actively pushing digital-only savings products.

More consumers are also flocking to innovative, digital lenders, including those that tie up with e-Commerce apps.

The Department of Information and Communication Technology (DICT) has strongly supported GOAB from its first conference 10 years ago until today. Its enhanced support this year, makes GOAB a fitting culmination to the Philippine Startup Week 2023.

“GOAB has been a part of the startup ecosystem since 2013. We are excited to meet old and new friends for this unique conference where we celebrate victories, share insights, pitch their ideas, and collaborate,” said Amper. Aside from Amper, other GOAB co-organizers from #geeksPH non-profit coalition include Dave Overton of Symph, Mark Deutsch of Happy Garaje and Doris Isubal-Mongaya of PRWorks.

Program and ticket information are now available at the website https://www.geeksonabeach.com/

GOAB supporters are led by GCash and Eastern Communications, as well as Kickstart Ventures, Grab Philippines, LalaMove, Helixpay, Snack.ph, DOHE Group, Cleaningly, Uniform Solutions, NTX Printing and CoDev.

‘Geeks On A Beach 2023’: Startup founders to gather at Panglao, Bohol Philippines

‘Geeks On A Beach 2023’: Startup founders to gather at Panglao, Bohol Philippines

Movers and shakers of the Philippine startup community, innovators and investors, and global and national leaders are set to gather for the sixth edition of the tech-famous Geeks On A Beach (GOAB) international conference on November 22 to 24 at the renowned Panglao Island in Bohol, Philippines.

Spearheaded by GeeksPH and co-organized by the Department of Information and Communications Technology (DICT), GOAB will be a bold exclamation mark to cap the 2023 Philippine Startup Week events to be held nationwide.

About 500 participants are expected to discuss at GOAB the trends and forecasts on tech, startup and design, with conversations and interactions aimed at enabling the best to ride the wave of technological advances.

DICT Secretary Ivan John Uy is expected to formally open GOAB.

“We are as excited as our alumni and the startup community in bringing GOAB back. Ten years after the first GOAB and a pandemic-induced hiatus, there are certainly a lot of new and positive developments to celebrate from the advance of digitalization, the rise of AI and more funding raised by Filipino startups,” said GOAB founding organizer Tina Amper of GeeksPH.

Apart from Amper, the other members of the GOAB founding organizing team are Dave Overton of Symph, Mark Deutsch of Happy Garaje and Doris Isubal-Mongaya of PRWorks.

Serving as GOAB advisors are Manny Ayala of Hatchd and Endeavor PH, Plug and Play Tech Center’s Jojo Flores, Shoppable’s Chris Blanquera, Stephanie Caragos of Syntactics, Embiggen Group’s Paul Pajo, and Christina Laskowski of Silicon Valley-based Science and Technology Advisory Council.

Founders, CEOs, thought-leaders

The speakers at GOAB are a veritable who’s who in the startup space locally and internationally.

With the beautiful Panglao beach as backdrop, GOAB will feature headliners admired and sought after by the tech community: DICT Secretary Ivan John Uy, Chris McCann of Race Capital, Mohan Belani of e27, Earl Valencia of Plentina, Gina Romero of Connected Women Philippines, Symph’s Albert Padin, Jason Torres of Mashup Garage and Neon Playground, Foxmont Capital Partners’ Franco Varona, Katrina Rausa Chan of IdeaSpace and QBO Innovation Hub, Jen Bilango of CoinsPH; Jay Fajardo of Medifi and LaunchGarage, Ron Baetiong of Podcast Network Asia, Haifa Carina of DEVCON Philippines, Ashley Uy of Synacy, John Naranjo of Ingenuity PH, Paulo Campos of Kaya Founders, Republiq’s Bryan Yap, Vince Loremia of Cleaningly and Tudlo, Jayvee de Leon, Earvin Ang of Aqwire PH, Pia Bernal of Kickstart, Jack Madrid of the IT and Business Process Association of the Philippines, and Leah Rasay of the Communications Design Association of the Philippines.

Plenary sessions are set to explore potential investment opportunities, while breakout sessions will touch on FinTech, EduTech, HealthTech, AgriTech, ClimateTech and other category-specific themes catering to youth and women.

GOAB will also have pitching opportunities, business coaching, matching, investors’ roundtable, and exhibits from various stakeholders. A highlight of GOAB this year would be the celebration of the impact of a new law, the Innovative Startup Act, and DICT’s programs to the Philippine startup ecosystem.

A day prior to the conference, on Nov. 22, GOAB will also hold special Masterclass sessions on “Empowering Rural Communities through AI Outsourcing”, “Maximizing Business Growth with a Cloud Services Framework” and “Global Expansion for Software Development Agencies”, as well as an exclusive dinner with investors.

Conference tickets and information are now available at the website https://www.geeksonabeach.com/

A different kind of geek conference

As in past GOAB editions, conversations and connections are expected to happen beyond conference and breakout sessions, making the event a premiere connector event among tech investors, innovators and enablers from the Philippines and abroad.

The exciting beach venue, the stellar roster of speakers, and conference agenda have set GOAB apart since it was first held in 2013. Previous GOAB editions were held in Boracay, Cebu, Panglao and Puerto Princesa.

This 2023, GOAB returns to Panglao for the sixth edition.