GOVERNMENT-BACKED SUPPORT
Recognizing the potential offered by the tech market, the Filipino government has been quick to acknowledge the country's needs in that sector. During his opening remarks at the 2015 Asia Pacific Economic Cooperation, Trade Secretary Gregory Domingo stated, "I have to admit, the government has lagged behind in its understanding and support for the [startup] sector. That's something we'd like to change going forward."
Later in the event, the government announced a partnership with accelerator IdeaSpace that will result in a national innovation center. The government went on to state that the center would include branches situated conveniently near universities. By positioning the center near universities, the hope is that the new program will encourage the growth of a startup ecosystem in the Philippines. The development of the center has been largely modeled after neighbor Singapore’s well-known innovation district, Block 71.
THE BOTTOM LINE
Where the Filipino tech startup industry will go in the future is almost anyone's guess. For the moment, this small nation appears to have what it takes to succeed and could even prove to be a model of its own for other emerging nations.
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