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SC sought to enjoin Comelec to allow voter verification of ballots

ELECTION watchdog Mata sa Balota on Wednesday asked the Supreme Court (SC) to compel the Commission on Elections (Comelec) to strictly follow the March 2016 high court ruling, allowing voters to verify if their votes have been counted.

In a 26-page petition filed weeks before the May 13 midterm elections, Mata sa Balota argued that the Comelec and automated election system provider Smartmatic Total Information Management should abide by the Court’s 2016 decision allowing the Voter Verified Paper Audit Trail (VVPAT).

“VVPAT is the one and only rare opportunity for a Voter to be sovereign in at least that specific moment of auditing the trustworthiness of a machine,” the petitioner said.

The Comelec appealed the SC decision, saying VVPAT issuance is time-consuming and assumes that a voter with receipt is presumed “guilty beyond reasonable doubt” of vote-selling.

The petitioner asked the SC to declare as unconstitutional Section 2(f) of Comelec Resolution No. 10088 in April 2016 which banned the use of capturing devices including cellphones and digital cameras inside the polling place for “whatever purpose,” adding that there is no time stating within which the prohibition of camera use applies. It said the ban is contrary to the Omnibus Election Code which allows watchers to take photographs of proceedings and incidents.

Mata sa Balota noted in the petition that “Audit Trail” can be done at the close of polls by allowing volunteers to use their own cameras to take photos of each VVPAT which must strictly remain in the precinct. It said this could prevent vote-selling.

It said that voters expected to use their cameras for the “Audit Trail.”

“VVPAT receipts went rolling out from the machine but only for a fleeting moment for voter peep and then down to its ‘coffin’ forever with no audit,” Mata sa Balota said.

“Voters cannot assert their right and watchers cannot accomplish their duty to ‘take photographs of the proceedings and incidents’ under Omnibus Election Code Section 179 because doing so is unlawful under Comelec Resolution No. 10088 Section 2(f),” it said.

Mata sa Balota on April 16 also filed a petition before the Comelec questioning its rules on taking photos during election day. — Vann Marlo M. Villegas

Aftershocks still felt in quake-hit Luzon areas; Clark Airport resumes operations

A MAGNITUDE 4.5 aftershock shook parts of Luzon early Wednesday morning as people were still reeling from the 6.1 earthquake that struck on Monday.

The Philippine Institute of Volcanology and Seismology’s (Phivolcs) monitoring showed the aftershock’s epicenter at 15 kilometers northeast of Castillejos, Zambales, with a depth of 11 kilometers below the ground.

The quake was felt in parts of Luzon, including Metro Manila, but there was no immediate report of damage.

The National Disaster Risk Reduction and Management Council (NDRRMC) reported on Wednesday that the number of injured people in the Luzon quake has risen to 86, and 14 remain missing.

Phivolcs also monitored on Wednesday a magnitude 4.7 earthquake off Banganga, Davao Oriental and magnitude 4.5 off Sarangani, Davao Occidental, but both were far offshore to be felt on mainland Mindanao.

On the magnitude 6.5 earthquake in the Visayas on Tuesday, the NDRRMC said 10 people were reported to have suffered injuries.

Messages of condolences from the international community have been sent out, among these from Japanese Ambassador to the Philippines Koji Haneda, who also offered assistance.

“We would like to extend our sincere condolences to the families of the deceased and express our sympathies to all those afflicted… As a country that has been tackling with earthquakes, Japan is ready to provide assistance needed by the Philippines to the extent possible. We sincerely wish for the early recovery of the disaster-affected regions,” he said in a statement.

CLARK AIRPORT
Meanwhile, the Clark International Airport resumed operations Wednesday afternoon after a shutdown prompted by last Monday’s tremor.

The Department of Transportation (DoTr) said in a statement the airport was ready to operate as of 4 p.m. as the structural damage sustained by the airport was restored after clearing and repair works were initiated Tuesday.

It added that the power supply, flight information systems and security cameras at the airport were all functioning.

The DoTr secretary earlier ordered officials of Clark International Airport Corp. to implement an emergency procurement, which means no public bidding is required, for the necessary materials and services to fix the damaged facilities of the airport, with an estimated cost of P30 million.

Local carrier Cebu Pacific started flying out of Clark Wednesday evening. Philippine Airlines said it will resume operations Thursday, and AirAsia Philippines did not announce further flight cancellations aside from those scheduled Wednesday. — Vince Angelo C. Ferreras and Denise A. Valdez

DoTr-PCG sets speed limit, penalties for vessels crossing Cebu-Mactan Channel

THE PHILIPPINE COAST GUARD (PCG), a unit under the Department of Transportation (DoTr), published on Wednesday a memorandum setting the harbour speed limit and other rules for vessels at the busy Cebu-Mactan Channel, with corresponding penalties of up to P100,000. The memo, which takes effect 15 days from publication, is intended “to enhance the safety of navigation, efficiency of vessel traffic and the protection of marine environment.” The speed limit is set at eight knots and a “no overtaking” policy will be implemented in consideration of the “volume of traffic and constricted width of the channel.” Exceptions to the rule must have prior approval from the PCG. For the first offense, violators will be fined P50,000 “each for the Captain/Master/Patron and Ship Owners or Operators.” A second offense would cost P100,000 each, and the third violation would lead to the suspension of license and non-issuance of berthing permit or port clearance. The PCG’s Central Visayas District is tasked to designate vessels for monitoring as well as rule on all reported violations.

Classes suspended, building inspections ordered in Tacloban City After Tuesday’s earthquake

TACLOBAN CITY Mayor Cristina G. Romualdez ordered the cancellation of classes in all private and public schools on Wednesday following a magnitude 6.5 earthquake in Eastern Samar on Tuesday afternoon, which was felt at intensity 5 in the city. The Executive Order said the suspension is intended “as precautionary measure against possible aftershocks…and to make way for structural assessment of structures and buildings.” Ms. Romualdez also issued a separate order to the City Engineer’s Office and City Architect’s Office for an inspection and structural assessment of all public buildings in the City, the regional center of Eastern Visayas. Meanwhile, the Leyte Metropolitan Water District issued an advisory assuring consumers that its distribution network and other infrastructure were not affected by the tremor. “Per initial assessment ‘no major damages’ occurred on its pipeline network. The no water supply in some households are isolated cases and the affected service lines are now being repaired. The Water treatment plants in Pastrana and Dagami, Leyte are both operating normally and that the public has nothing to worry,” the water utility said.

Envoy says PHL trusting China but staying vigilant over Pag-asa Island

CHINA HAS assured the Philippine government it will not occupy Pag-asa Island in the Kalayaan Group of Islands located off Palawan, Philippine Ambassador to China Jose Santiago L. Sta. Romana said on Wednesday.

The Philippines is trusting China on its word, but Mr. Sta. Romana said it will remain on high alert in asserting its sovereign rights over the island, which is inhabited by a small community and is home to military facilities.

”In terms of Pag-asa, through the diplomatic discussions, the Chinese have sought to reassure us that they have no intention to use force or to occupy Pag-asa,” Mr. Sta Romana said in a televised briefing on the Philippines’ participation on the Belt and Road Forum in China, Wednesday.

”But, you know, the diplomatic action is take them on their word, but verify and keep your vigilance high. So, trust, but verify.”

Mr. Sta. Romana noted that the presence of Chinese vessels near Pag-Asa Island was among the issues tackled by the Bilateral Consultative Mechanism (BCM) in early April.

During the discussions, he said their counterparts committed to keep an “appropriate distance” to prevent the issue from escalating.

”The Chinese have also given the assurance that the traditional fishing rights of the Filipino fisherman there will be safeguarded, together with the Chinese,” Mr. Sta. Romana said.

”What we are hoping for and what we’ve communicated is self-restraint, mutual self-restraint for both sides to avoid any miscalculation and any conflict,” he added.

PROTECTED AREAS
In a related development, National Security Adviser Hermogenes C. Esperon Jr. said the Philippines is pushing for the declaration of marine protected areas in the highly-contested West Philippine Sea.

“That’s really in the discussions. We want to propose that because I’m sure they would also want to preserve or take care of the fisheries resources and all other things that are within that marine protected area. We did it in (the) Philippine Rise so we would like to do it somewhere in the Ayungin area,” said Mr. Esperon in a chance interview with reporters on Wednesday, April 24.

The statement comes after the reported harvesting of giant clams by Chinese vessels in the Panatag, also known as Scarborough, Shoal.

He added, “If we prohibit people from going there then we should do it to everyone. That is why we are designating the area so that we could concentrate our enforcement forces there,” noting that a protected area declaration would be useless if there would be no security forces to monitor and implement the policy.

Mr. Esperon noted that the government, through the Bureau of Fisheries and Aquatic Resources, has been guarding the country’s fishing waters.

“May ginagawa din ang BFAR ngayon, ‘yung (BFAR is also doing something, the) 24 fishing grounds. These are the, from the north all the way to the Sulu … east and west (we will designate places) where we could have task groups or smaller task forces that will get together and enforce fisheries not only against unregulated or illegal fishing, unreported violations but also to nurture, shepherd or take care of the fisheries,” he said.

In a separate statement, Mr. Esperon also said that the presence of Chinese vessels in the West Philippine Sea is “illegal and a clear violation of our sovereign rights and economic jurisdiction as defined in the UNCLOS (United Nations Convention on the Law of the Sea).”

”We maintain that the Kalayaan Island Group, and all the features in the West Philippine Sea, are subject to the effective and exclusive control and management of the Philippines,” he said. — Charmaine A. Tadalan and Vince Angelo C. Ferreras

Security, health measures set for 2019 Palarong Pambansa in Davao City

THE 18,000 delegates, including athletes and their supporting parties, have started arriving this week in Davao City for the 2019 Palarong Pambansa on April 27-May 4, and officials assured that all is set for the biggest national games for the youth.

The City Information Office said the City Health Office has completed the inspection of all billeting quarters of the athletes and coaches, particularly the toilets and shower rooms. CHO officer-in-charge Josephine J. Villafuerte said they have also cleared possible breeding sites of mosquitoes as well as set up health desks in the billeting areas and the playing venues. On security, the Public Safety and Security Command Center (PSSCC) said all its units, along with force multipliers, are also prepared. PSSCC deputy head Angel B. Sumagaysay said there will be about 3,366 security personnel to be deployed coming from Task Force Davao, Philippine National Police, The 10O3rd Brigade, the 3rd Infantry Battalion, and Civil Security Unit. The games are scheduled to open on Sunday, April 28, at the Davao City-University of the Philippines-Mindanao Sports Complex. Mayor Sara Z. Duterte, in a statement, said, “We are more than thrilled to welcome around 18,000 of the country’s best student-athletes, coaches, delegation, officials, and technical officials here in the durian and cacao city of the south.”— Maya M. Padillo

TPMT cites Marawi City rehabilitation as one of crucial components in Bangsamoro transition

OPAPP

THE INDEPENDENT Third-Party Monitoring Team (TPMT) of the Bangsamoro peace process, in its 5th Public Report released on Tuesday, said the “immediate rehabilitation” of war-torn Marawi City is one of the crucial components in the region’s transition under the Bangsamoro Organic Law (BOL).

In a statement, the TPMT said it is “imperative” for the stakeholders to “monitor and support efforts to ensure the immediate rehabilitation of Marawi City that respects and responds to the proposals of the local residents especially of the most affected area.”

It added, “Programs that will holistically and proactively prevent violent extremism should also be developed.”

Last week, the military announced that the last remaining leader of the Maute group that laid siege to Marawi, identified as Owardah Marohombsar alias Abu Dar, was killed in an encounter in Tuburan, Lanao del Sur on March 14.

“Right now, they are already leaderless. Although we are still closely monitoring through our intel in the communities if the ideology of Dawlah Islamiyah will still remain,” Lt. Col. Gerry M. Besana, spokesperson of the Western Mindanao Command, said in an interview.

Colonel Romeo S. Brawner Jr., 103rd Infantry Brigade commander, said in a statement, “We will not rest until we neutralize all the other remnants of this terrorist group.”

DECOMMISSIONING
Another recommendations of the TPMT in its latest report covering the period July 2017 to February 2019 is for the government “to implement a viable plan on the disbandment of private armed groups, as this will greatly impact the MILF (Moro Islamic Liberation Front) decommissioning process and the security situation in the region during the transition.”

The decommissioning of MILF combatants is part of the Normalization Track under the 2014 Comprehensive Agreement on the Bangsamoro (CAB). An Executive Order that will serve as a framework for the normalization and its timeline is now being drafted, Presidential Peace Adviser Carlito G. Galvez Jr. announced last month.

Last April 23, top military and police officials, and front and base commanders of the Bangsamoro Islamic Armed Forces of the MILF met in Maguindanao in a security and socio-economic forum for the implementation of the Normalization Track.

In a statement, the Office of the Presidential Adviser on the Peace Process (OPAPP) said Mr. Galvez stressed during the forum “the need to strengthen relationships among the parties for the successful implementation of the Normalization track, which deals largely on the decommissioning of the MILF combatants and their weapons, and the transformation of their camps into peaceful communities.”

The other recommendations of the TPMT are:

• Discuss and agree on the way forward so that the CAB provisions that have been deleted or amended in the BOL may still be implemented;

• Finalize and implement an overall transition plan. It should lay down the primary and essential steps to be undertaken to ensure a smooth administrative and bureaucratic transition from ARMM (Autonomous Region in Muslim Mindanao to Bangsamoro ARMM, including priority parliamentary actions and development programs for the BTA (Bangsamoro Transition Authority) as well as the necessary trainings for BTA officials and staff;

• Revisit the Normalization Program and if necessary make amendments to the CAB in terms of policing as this may entail changes to the schedule of the various normalization components;

• Start implementing key recommendations of the Transitional Justice and Reconciliation Commission; and

• Further strengthen efforts to make the process more inclusive, and particularly for the MILF-led BTA to demonstrate their sincerity and willingness to partner with all groups in the region.

“The collective commitment of all parties to continue to strive for peace has been impressive,” the TPMT said, “with continued diligence in implementation of the Comprehensive Agreement on the Bangsamoro the foundations of a peaceful future for Mindanao will strengthen.”

The TPMT — established in 2013 as part of the peace process between the Philippine government and the MILF — is currently chaired by former European Ambassador to the Philippines Alistair MacDonald with the following members: Karen Tañada of the Gaston Z. Ortigas Peace Institute, Rahib Kudto of the United Youth for Peace and Development, Huseyin Oruc of the IHH Humanitarian Relief Foundation, and Sam Chittick of Asia Foundation. — Marifi S. Jara with a report from Tajallih S. Basman

Nation at a Glance — (04/25/19)

News stories from across the nation. Visit www.bworldonline.com (section: The Nation) to read more national and regional news from the Philippines.

Nation at a Glance — (04/25/19)

Why innovation should matter to creative entrepreneurs

While creative businesses may seem different and more exciting compared to those in other industries, they also go through the same motions that every enterprise does. Go Negosyo’s Mentor Me on Wheels aimed to shed light on this important matter.

Mentor Me on Wheels is a series of free mentorship programs in partnership with the Department of Trade and Industry (DTI), which gathers seasoned professionals to act as mentors for aspiring and existing MSMEs. The latest rollout was held last April 8 at the SM Mega Fashion Hall, hinging on the theme “creativity and innovation”.

Focusing on the different arts industries such as visual arts, fashion and lifestyle, and culinary arts, MSMEs were advised one-on-one by the likes of Pepe Dioko, director, producer, and writer; Rajo Laurel, fashion designer and founder of House of Laurel; and Margarita Fores, chef and founder of Cibo.

Mixing creativity and innovation

“With the right mindset and level of creativity and innovation, most of you will shine and persevere in the business community,” said Joey Concepcion, founder of Go Negosyo. “The government, with the help of DTI, Go Negosyo, and the private sector, will be here to mentor you especially in areas on how to use and source money to grow your business and on how to reach more markets for your products and services.”

Before everything else, creative entrepreneurs must reflect first on their objectives. “The first thing… is to really have an introspection and align your personal goals and your business goals… because that will [determine] the difference in terms of what you will need to do to prepare yourself for business,” said Jay Aldeguer, President of Island Souvenirs Group.

In setting these objectives, creative entrepreneurs also need to integrate innovation in their DNA. According to Bernie Liu, CEO and President of Golden ABC Inc., innovation keeps businesses evolving and growing.

“To magnify the creativity of Filipinos, we need innovation,” he said. “Creativity alone will not bring us to the global platform. It is a good foundation, but we need innovation.”

Five ways to advance women leadership in the workplace

The past few years have been great for gender inclusivity in the workplace. Just this January, Willis Towers Watson Data Services reported a 12 percent decrease in the gender pay gap among employees aged 30 to 40, compared to data from 2018.

Despite these efforts, however, women are still a minority in high leadership roles. Only 4.8 percent of the 2018 Fortune 500 companies had female CEOs — this, effectively robbing their companies of the potential advantages of better representation, such as effective mentorship and fresh business approaches.

With such an enormous gap to close at the top level, companies have to go beyond a passive attitude towards equality. Here are five concrete ways you can boost female leadership in your organization, based on the IBM Institute for Business Value’s study “Women, leadership, and the priority paradox”.

Make advancing women a formal business priority

Gender equality must become a strategic priority and not simply a “nice-to-have”. It must be included in a company’s mission statement and have KPIs, budget, and assigned resources like any other business plan. And to further cement the company’s resolve, senior leaders must be put in charge of the initiative For example, Johnson and Johnson’s Chief Diversity Officer reports directly to their Chairman and CEO.

Get leaders involved and accountable

It’s one thing to make plans and another to execute them. Making your leaders accountable for these plans will help ensure that they’re implemented. But instead of harsh penalties, leaders can instead be offered incentives for achieved objectives. For goals that aren’t met, action plans for improvement must be created so that they aren’t just glossed over.

It’s also important that both leaders and employees concretely share their commitment to the cause. Professional services firm EY has an entire blog dedicated to women advancement, which includes interviews on company leaders on the topic.

Co-create goals for measurable progress

Having a sense of ownership over a project goes a long way. Instead of mandating goals, have your leaders get proactively involved by helping set them. They can start by auditing their respective teams to determine which ones have a deficit of women in leadership roles. A subsequent investigation will shed light on the reasons why, which will help in creating measurable goals.

Once that’s done, check that these goals are consistent with legal requirements and truly promote a culture of inclusivity. Note that timelines should be included to help make your employees more aggressive. For instance, Sodexo set a 2025 deadline for their goal to have female workers comprise 40 percent of their leadership.

Embrace initiatives and policies to alleviate unconscious gender bias

Despite good intentions, there are times when our judgments are clouded by an unconscious gender bias. Companies can identify these perceptions by investigating groups with consistently fewer acknowledged women outperformers. In a similar fashion, P&A Grant Thornton Philippines conducts surveys with their female employees to identify possible barriers to promotion. “[It helps us] see the additional specific interventions that we may have to do to address these,” said Marivic Españo, chairperson and CEO.

Salaries must be equal for all genders, which includes adjusted compensation for old female employees. And recruitment and promotion must be just as gender-blind. For instance, companies can mandate at least one female candidate for every leadership opening, followed by proper documentation if she’s not chosen for the job.

Foster a culture of inclusion

At the end of the day, the goal is to create a truly inclusive culture for every employee. This means extending a hand to male workers as well, who face stifling traditional expectations like women do.

For example, there’s a presumption that they prefer to work long hours in the office rather than go home. Flexible work hours and paternity leave will not only free men from this expectation but also reinforces that domestic responsibilities are for both genders. Accenture Philippines offers 30 consecutive calendar days for paternity leave. Female employees can also transfer 30 days from their 120-calendar day maternity leave to a secondary caregiver such as a spouse, life partner, or relative.

High demand and common needs: A look at today’s office space market

Last quarter, real estate services company Pronove Tai International Property Consultants forecasted a growth in the office space market for 2019, with a projected added supply of 1.04 million square meters. Philippine offshore gaming operators (POGOs) were also foreseen to increase their demand for space, considering that they had already taken up 45 percent of pre-leased transactions for 2019.

Now that the first quarter of this new year has passed, how are these projections shaping up? Pronove Tai shared their reports on the market’s current progress.

Healthy growth rates

The predicted growth of the office market seems to be on track. 276,000 square meters were added to the total office stock (or accumulated completed buildings from 1965 to Q1 2019), an increase higher than in any quarter in 2018. And while Makati, Taguig, and Ortigas still take the top 3 spots, Ortigas grew the fastest among all of the districts at a rate of six percent. It saw an added supply (or annual completed supply of space) of 110,100 square meters, solely attributed to the Podium West Tower by developers Keppel Land and SM Prime Holdings.

The four minor office districts (San Juan, Las Piñas, Pasig, and Parañaque) and Mandaluyong follow in terms of added supply. Each area brought in 68,000 square meters and 28,000 square meters, respectively. While the total office supply is 31 percent higher than the 2018 quarterly average, an ongoing cement shortage is already causing delays in building completion. For instance, only 15 buildings were completed during the quarter when the projection was 21 buildings.

Still, vacancy rates are increasing to healthier levels. It rose to 6 percent — up 2 percent from the last quarter — with Quezon City and Mandaluyong offering the highest vacancy rates.

Increasing demand

Demand for space continues to grow strong, having increased by 39 percent year on year (YoY). IT and business process management firms (IT-BPM) and traditional firms remain the biggest demand drivers at 36 percent and 35 percent, respectively. But in terms of the greatest YoY increase, it’s POGOs with the highest figures.

Already taking up 29 percent of the demand, YoY increase went up by a staggering 118 percent. The need is so urgent that POGOs are already exploring Pasig, Parañaque, and Quezon City to set up camp, considering that there’s no more space in Makati and the Bay Area. Previously, POGOs weren’t looking at these districts because of their unfamiliarity to their foreign employees.

A need for convenience

If there is a common denominator that demand drivers across industries consider, however, it’s convenience. According to Monique Pronove, CEO of Pronove Tai, POGOs will always choose locations with easy access to residences, retail, dining options, and transportation. And while not all of these facilities are requirements for traditional firms, it’s definitely a plus factor looking at options.

It’s for this reason that township projects are becoming more appealing for tenants. The past fe years have seen more of these developments cropping up both within and outside of Metro Manila. Aside from the more recent completions like Nuvali in Laguna, more projects are already in the pipeline such as Megaworld’s Arcovia City along C-5.

“When tenants choose a location, they are now looking at partners who can build for them when they grow,” said Pronove. “There’s more challenge[s] for single-detached building[s] and smaller developers to compete with the big developers now. Because what they’re looking at are immediate availability of space and solutions to their needs when they grow.”

Five reasons investors may not be interested in your ‘profitable’ startup

The most common path to building a great tech company is gaining early traction, raising money from top investors, and then scaling. But it’s never as simple as one, two, and three. Many founders are puzzled by the fact that they have achieved substantial profitability for their business – and not just the “ramen profitability” some early stage startups hit – and still cannot get any investor to sign on the dotted line.

What, then, is the hold-up? As someone who has helped startups raise every round from seed all the way up to Series E, these are the most common issues I’ve observed in the Philippines.

The profitability is artificial.

In an early stage startup, certain sacrifices are made. Key employees may be taking a reduced salary, the founders may be drawing none at all, and marketing efforts may have not started in earnest. The startup will thus appear to be cashflow positive, if only because the founders are not considering all the costs necessary to deliver revenue.

The size of the market is too small.

Even if your startup is profitable, there is the possibility that the market is not big enough. In this case, the startup is not be investable because investors are unlikely ever to see the exponential return they want from their investments.

To combat the market size issue, local founders need to think regional. While the Philippines may be our home and provide us with first-hand exposure to very real problems, we need to ensure that such issues exist across Asia Pacific, or at the very least, Southeast Asia. On its own, the Philippines is rarely a big enough market to convince investors – especially institutional ones – that the pay-off will be significant.

The market may be saturated.

Your startup may be profitable, but only because it has concentrated on a very small niche in an already large, crowded market. As soon as you try to move beyond that initial niche, you will face stiff competition from the market leader and other incumbents. Without a compelling value proposition to seize market share, investors will not be convinced that the return on investment is attractive enough.

There is no growth trajectory. Investors want to see high probability of hockey-stick growth. They want to know that as soon as they infuse your startup with capital, it will start to skyrocket upward in growth. Some startups may be profitable, but show no hint of this kind of growth trajectory. This startup, then, may work fine as a lifestyle business, but not be compatible with investors who want to see the valuation of the business to exponentially increase.

The founding team may not be right.

The importance of the founding team is stated often, but it bears repeating here: It’s easy enough to evaluate your market size, competitive landscape, growth, and other external factors. It’s comparatively much more difficult to turn a critical eye on yourself and the cofounders at your side, even though this is the principal concern for any seasoned investor.

Investors look for “viability” in their founder. They need to know that the founder can build the team and grow the business. Of course, scaling a startup is not just the job of the CEO alone, so they are also concerned about the team composition, including co-founders and early employees. Investors want to know that the startup has the right plan, and more importantly, the right people to execute it once they decide to invest.

In short, even if your startup is profitable, this profitability will be interpreted in a much wider context. Investors will evaluate whether you are in the right industry, with the right market size and competitive landscape, and have the right team.

If your startup falls short on these measures, you’re more likely to stay self-funded, and that’s fine too. You have succeeded where most fail: Creating a small business.

If your startup does check all those boxes, then congratulations. You’re well on your way toward getting the capital infusion that can turbocharge your growth.

________________________________________________

Maggie Po is the chief strategist for Full Suite, a finance concierge for Singapore’s top companies catering to their fundraising, runway management, and mergers and acquisitions needs.

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