By Miguel Hanz L. Antivola

The ninth season of The Final Pitch, a business reality show, will feature broader investment opportunities that encompass non-tech startups and entrepreneurs, its creator said.

The Final Pitch Season 9: Open Edition is accepting applications until May 13. Those interested may apply on their website as an existing Philippine-based startup or business, or as someone with a great idea for a startup.

“The future partnerships should be open to various solutions, whether tech-related or not,” said John Aguilar, the show’s creator and host, who emphasized the importance of democratizing access to entrepreneurs beyond technology.

“Our hybrid working environment has proven that it’s always good to be able to balance both,” he said during a launch event on Tuesday.

According to the Philippine Venture Capital Report 2023 by venture capital fund Foxmont Capital Partners (FCP) and global management consulting firm Boston Consulting Group, funds raised by Philippine startups exceeded $1 billion in 2022 for the second year in a row.

The report noted that as of February this year, the Philippines has already seen 17 investments, with the first quarter projected to hit 23.

“The Philippine market is agile and fresh with new ideas and startups… [T]here has been a tremendous growth in later stage investments, reflecting the overall maturing state of the Philippine startup ecosystem,” the report said.

“We are not at a level where some of our more advanced neighbors are at, but we’re certainly getting there,” Mr. Aguilar said.

The country holds a 9% share of venture capital funds among Southeast Asian countries, growing from 2% in 2020 and 5% in 2021, according to the report.

The new The Final Pitch season will feature investor-judges Rico Bautista, chief executive officer and president of insurance provider Etiqa Life & General Assurance Philippines; Brian P. Llamanzares, president of investment company Pantheon Holdings, Inc.; Henry Rhoel R. Aguda, chief executive officer and president of UnionDigital Bank and member-convenor of GoDigital Pilipinas; and Robert Scott, vice president of hotel operations at casino-resort-hotel complex Okada Manila.

For the first time, the show will involve judges from the diplomatic corps with the participation of the Israeli Ambassador to the Philippines His Excellency Ilan Fluss, and the British Ambassador to the Philippines Her Excellency Laure Beaufils.

The Final Pitch will also hold an open mentorship day with sessions led by business mentors on May 23 at Dragon’s Nest, Thames International Business School in Quezon City. This was previously exclusive to the contestants of the show.

Mentors for the open house will include Dean Bernales, founder and chief executive officer of public relations firm Uniquecorn Strategies; Christopher Peralta, founder and chief executive officer of startup mentorship ecosystem Silicon Valley HQ; Vince Golangco, founder and chief executive officer of local online metro guide book When in Manila; Atty. Marlon P. Valderama, founder and chief executive officer of legal solutions platform LexMeet; Jaime Noel Santos, president of Thames International Business School; and Paolo Rentero, co-founder of startup ecosystem builder TechShake.

INVESTOR-JUDGES’ CRITERIA AND ADVICE
The set of investor-judges said that they are eyeing ambitious entrepreneurs who have developed innovative business solutions during the pandemic, with next-generation approaches to the current Philippine landscape.

“Definitely I’m looking for something that addresses a real problem for the country,” Mr. Llamanzares said. “Something that people will be able to use, subscribe to… something that can help people in general.”

He added that applicants must do their homework and build a pitch deck with the business’ clear financial status and seeking capital.

“I am thrilled to engage with entrepreneurs who possess a clear vision of what their company requires to grow and thrive, whether it be a technological solution, marketing assistance, or networking opportunities.”

Meanwhile, Mr. Aguda said he is looking for startups with an eye for scaling. “I follow this adage: ‘To test is easy; to fail is easy. To scale—that’s the business…’ That’s the only way you can be sustainable,” he said.

“My excitement here is also looking for solutions that we can take to the government and be the ones to scale up. Maybe an entrepreneur or a startup can solve a problem that the government is trying to solve and the government becomes the accelerator to make them a unicorn.”

For Mr. Bautista, he is seeking business partners and startups that would help increase the penetration rate and awareness of the insurance industry in the country.

“I am personally looking for startups who can help expand our business in Etiqa, especially when it relates to insurance, customer service, and distribution,” he said.

“We know that insurance is not only there as an expenditure for individuals and companies, but it is something very crucial.”

According to the Insurance Commission, there were only 20,248 enterprises that provided healthcare coverage to their employees as of 2021. There were more than 1.08 million establishments in the country that year, according to the local statistics agency.

Mr. Scott stressed the importance of people dynamics as one of his own criteria in selecting a startup to invest in. “Our industry is a people industry. Our most important assets are our people—be it our customers, be it our staff,” he said.

“It’s not so much about the idea, but also the person behind the idea—the vision, the drive, the passion, what their end game is,” he added.

The Final Pitch is open to all Philippine-based startups or businesses who are generally operating for less than 5 years, but anyone with a solid business idea is encouraged to submit their application, according to creator and host Mr. Aguilar.

Applications for the show can be done through The Final Pitch website at TheFinalPitch.ph/application. 

Participants who wish to join the May 23 Open House Mentoring Day can register through TheFinalPitchOpenMentorship.eventbrite.co.uk or visit the The Final Pitch Facebook and LinkedIn pages.

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