As the Philippine startup ecosystem continues to accelerate, the Philippines is attracting a lot of interest from investors. In this regard, the Department of Trade and Industry (DTI) reinforces the governments’ efforts in supporting Filipino startups and MSMEs to upgrade, upskill, and upsize, through implementation of programs to further establish a strong Filipino startup ecosystem.
Earlier this year, DTI’s overseas trade promotion office in Sydney, Australia, the Philippine Trade and Investment Center (PTIC), partnered with Silicon Valley HQ Founder and CEO Chris Peralta, and Startup Village President Carlo Calimon to bolster Filipino startups and companies through a startup pitching session organized on 30 March, followed by a pitching session to investors on 14 April.
Silicon Valley HQ is a continuous learning platform aimed at helping people in emerging markets overcome digital skills gaps. Its founder and CEO Chris Peralta supports and advises Filipino startups and companies through his mentorship programs with Philippine universities bridging Philippines, Silicon Valley, and Sydney, where he has been based since 2020.
“There’s a lot of talent in the Philippines that needs to be cultivated and highlighted. With the right coaching, messaging, and connecting with the right investors, Filipino startups have the potential to be the next big thing in the startup world,” Peralta said.
The five startups that participated were Bambuhay, Magwai, Eduksine, Nudgyt, and Plants Without Borders. These startups benefited from Peralta’s expertise in coaching, mentoring and advising unicorn companies in Silicon Valley, as well as from his extensive business network in the US and Australia.
The Philippine startup ecosystem is rapidly growing and gaining momentum, and according to the Global Startup Ecosystem Report (GSER) 2023 released by Startup Genome, the Philippine startup ecosystem value climbed to $3.5 billion this year from a value of $2.1 billion, making a tremendous 85% growth surge.
Meanwhile, Startup Village President Carlo Calimon has been helping the DTI and various government and non-government organizations in developing and strengthening the country’s startup ecosystem through Startup Village, an incubator/accelerator that enables startups to bring their unique ideas and business concepts to reality.
“Our goal is to help startups build disruptive technology that displaces an established technology and shakes up the industry or introduces a groundbreaking product that creates a completely new industry,” Calimon said.
“It takes a village to raise a startup,” Calimon adds. “This is why the community’s support, and not just the government, is much needed. With Silicon Valley HQ’s extensive connections in the US and Australia and the relationships that we’ve built in the Philippines, we hope to raise startups that can truly disrupt and make a difference in the world.”
Here are the five (5) exciting startups that are raising funds for their business activities and expansion plans:
BAMBUHAY – A Greentech social enterprise focused on circular economy that innovates products, causes no harm to the people and the planet, uses business to implement solutions to plastic pollution, deforestation, climate change, and poverty using Bamboo and Technology. A total of US$550k was raised by the company for the invention of the first plantable toothbrush in the world. Visit Bambuhay www.bambuhay.com
MAGWAI – Magwai is the Philippines’ pioneer in marine-friendly personal care products. The company aims to disrupt the personal care category by getting consumers to switch to alternatives that are sustainable, effective, and accessible. Magwai’s products include reef-safe sunscreen and plastic-free shampoo bars. With sales forecasted to breach the US$5M mark by 2026, the company intends to raise US$550k to be used in the next two years. Visit Magwai www.magwai.com
EDUKSINE – A hybrid streaming platform and social enterprise making Filipino films accessible and affordable to everyone. Eduksine is the first and only block-screening streaming platform in the Philippines for educational and socially-relevant films. The company is raising US$90k to develop and launch an advertising campaign, buy film rights, hire new staff, and launch the company for the B2C market. Visit Eduksine www.eduksine.com
NUDGYT – Nudgyt combines behavioral science and cutting-edge AI to build Augmented Intelligence and Automation solutions. NUDGYT combines GPT4/ChatGPT with its own decision- making algorithms to build AI that can SENSE, THINK, and ACT. Its Augmented Intelligence (AI) Agents can be used to analyze data, simplify how decisions are made, and improve process automation in large organizations. Visit Nudgyt www.nudgyt.com
PLANTS WITHOUT BORDERS – A startup that aims to facilitate the matching of supply and demand in agriculture, starting with floriculture. The company has agricultural traction handled over US$250k in cross-border transactions and is raising US$300k at a US$2M valuation cap. Visit Plants Without Borders www.plantswithoutborders.org
The Philippines has a young, tech-savvy and educated population backed with the government’s and private sector’s support and initiatives for skills development and capacity-building. These are just few of the many reasons to support Filipino startups to becoming the next big thing.
How you can help:
- Shop for personal or corporate gifting
- Government, industry, and retail partnerships and connections
- Help raise funds to finance their activities and business expansion plans
- Spread the word. Share the information with your family, friends, and business partners.
Date of Release: 16 June, 2023