The Department of Trade and Industry is taking a big leap in advancing government’s support to startups and innovation entrepreneurs across the country. As the Philippines embraces the global digital revolution and encourages more businesses to scale up, DTI has partnered with several government agencies and the private sector in developing strategies and interventions that will enable new breed of businesses.

Here are the things you need to know about SlingShot:

1. First government-initiated platform for startups

Slingshot MNL served as the first government-initiated platform in the Philippines that gathered industry stakeholders from both government and the private sector during the Philippines hosting of the Asia-Pacific Economic Community (APEC) Summit in 2015. It inspired and energized support for the growing startup community in the Philippines as well as brought stories straight from innovation hubs, experts, and game-changers in the Asia Pacific Rim.

2. Brought industry collaboration into the next level

After its conduct in 2015, dialogues were held between relevant stakeholders aimed to launch new breed of businesses in new verticals like agriculture, biotechnology, electronics and digital startups. During the second staging in April 2016, DTI stood with a clearer mandate to listen, understand, and support key players in the Philippine startup ecosystem.

It provided support and inputs for the development of an action agenda that will further the startup and innovation ecosystem in the Philippines.

3. Increased support for Start Ups

With the tremendous support from the community, efforts made gave birth to DTI’s Startup Ecosystem Development Program (SEDP)which aims to increase both the number of registered business startups annually and the percentage of startup survival and success rate in the country. Another milestone is the successful establishment of QBO Innovation Hub, a pioneering public-private effort between the DTI, Ideaspace Foundation, the Department of Science and Technology (DOST) and J.P. Morgan. QBO helps in the development, growth, and scaling of the startup ecosystem in the Philippines. It is currently situated at the DTI International Building in Makati City to provide support services to startup entrepreneurs.

4. Now on its 3rd staging

Slated on 20 October 2017, SlingShot ASEAN will bring together young minds with big ideas, innovators in constant pursuit of new solutions, supportive investors and venture capitalists, and policymakers from across ASEAN that are driven by the vision of a thriving innovation economy.