THE Department of Trade and Industry (DTI) and QBO Innovation Hub said they will work together to help Philippine startups enter Southeast Asian markets.
In a statement on Wednesday, the DTI said the Global AQELERATION Program (GAP) will also assist startups with business development, fundraising, and other activities.
According to the DTI, the program will run until June. It will be rolled out in two phases — a 12-session component that will help startups developing expansion plans, and a three-month post-acceleration phase which will focus on the plan’s execution.
“Out of the startups participating in the acceleration phase, only 10 will be selected to move forward with the post-acceleration. This program will be implemented in partnership with international accelerators and trade missions in the Association of Southeast Asian Nations (ASEAN),” the DTI said.
Trade Undersecretary Rafaelita M. Aldaba said Philippine startups need support in expanding to new markets.
“Our homegrown startups have the potential to be future unicorns and tech leaders, and the DTI GAP will enable these startups to reach new markets and customers and fulfill their potential,” Ms. Aldaba said.
Startups involved in the program include Prosperna, Senti AI, Plentina, ChatGenie, Agro-Digital PH, Frontlearners, Wela School Systems, Steer by Quick Reach, Race Ya, MedCheck, OMG! (Oh My Genie!), Automart.ph, Dealogikal Corp., Ask Lex PH Academy, and FHMoms, Inc.
“We have entered a new phase in the ecosystem where more startups are not only seeing larger investments but are also ready and looking to venture outside of the country to pursue growth. This program will help our startups gain a foothold in the rest of Southeast Asia, and eventually even expand to Europe, North America, and the rest of the world,” QBO Innovation Hub Executive Director Katrina Rausa Chan said. — Revin Mikhael D. Ochave