Founder-focused incubator Brainsparks, together with event partners Shell Philippines and Pilipinas Shell Foundation, Inc., held “Founders Circle: Startup Secret Sauce,” last June 19 at the Draper House, Makati City.
The event featured a panel discussion that delves into the startup ecosystem in the Philippines and Southeast Asia. The discussion highlights the driving force behind the Philippine startup ecosystem’s growth and the key components to utilize to further develop its potential.
Panelists included representatives from the different players and stakeholders of the regional startup ecosystem, such as e27 Co-Founder and Programs Director Thaddeus Koh, 1Export Co-Founder and CEO Melissa Nava, Kaya Founders Investment Director Toby Floro, and Department of Trade and Industry (DTI)-Innovation and Collaboration Division Chief Karl Pacolor.
According to the panelists, Manila’s startup ecosystem recently doubled its valuation, a clear sign that the Philippine startup ecosystem is rapidly gaining traction. This also places the Philippines as the fastest emerging startup hub in the world. This is supported by the recently published 2024 Global Startup Ecosystem Report, which found that Manila’s startup ecosystem was valued at $6.4 billion, almost double the $3.5-billion valuation the year prior.
“This growth is a testament to the hard work and innovation of our startups through the support of the local startup community, and we are committed to supporting this journey,” Mr. Pacolor said.
Mr. Pacolor also highlighted the support from the government in nurturing the startup ecosystem, citing the Innovative Startup Act (ISA), which mandates the government to support startup companies and businesses in the Philippines.
In addition, Mr. Koh of e27 stated that the Philippines is becoming a prime market for startups, emphasizing its potential and funding opportunities.
“The Philippines is a thriving hub for tech companies. Its strategic location in Southeast Asia, coupled with a highly skilled and affordable workforce, grants access to a massive regional market and acts as a gateway to neighboring economies,” he said.
Mr. Floro shared that being a founder is no easy feat; and from what he witnessed and experienced as an investor, he learned that starting a company based on current trends is not the best way to go.
Ms. Nava further expounded on this point, saying that when starting a business or startup, thinking about major crisis points and making sure that your business is future-proof is very important.
More events from Brainsparks
Brainsparks aims to contribute more to the growth of the Philippine startup landscape by hosting events like the aforementioned that offer valuable insights.
The Brainsparks Founders Circle, particularly, is a set of events that bring together founders, entrepreneurs, and industry leaders from diverse fields, to share their extensive knowledge, insights, and experiences. The event aims to be a venue for participants to network, learn, explore, and discuss the most current trends, challenges, and opportunities in the thriving startup ecosystem.
“Startup Secret Sauce” is this year’s 4th installment of the series. Prior to this, Brainsparks first held “The New Paradigm of Startups,” which delved into the transformative role of artificial intelligence (AI) in lead generation and marketing strategies for startups, last May 8. This was followed by “Eco-Forward Entrepreneurs” last May 22, which highlighted the ways how businesses can seamlessly integrate inclusivity and sustainability into their core practices, and “Future of Sustainable Creativity” last June 5, which explored the dynamic landscape of the design and creative industry in the Philippines.
In addition to Founders Circle, Brainsparks has partnered with various local and international organizations to implement several programs designed to help startups reach their full potential. These include the Shell LiveWIRE Accelerator Program and Ecothon Philippines intensive boot camp.
More recently, e27 and Brainsparks join forces for Echelon Philippines 2024, a pioneering event bringing together the expertise of startup leaders, visionary entrepreneurs, and forward-thinking investors from the Philippines and Southeast Asia to propel the next growth phase. It serves as a platform for jump-starting regional partnerships for funding and investments through showcases and business matchings, sharing insights from thriving and emerging sectors to unveil new opportunities, inspiring entrepreneurship in emerging sectors, and fostering new talent entering existing markets to drive growth.
Echelon Philippines 2024 is happening on Sept. 26-27. To learn more, visit e27.co/echelon/philippines/.
