The Philippines’ startup scene is rapidly gaining traction

Philippines’ startup ecosystem growing fast —Brainsparks, e27

By GMA Integrated News

July 10, 2024 

The Philippines’ startup scene is rapidly gaining traction, according to startup incubator Brainsparks and ecosystem platform e27.

"The growth we are seeing in the Philippine startup ecosystem is encouraging for both startups and venture capitalists. There are immense opportunities for innovation and entrepreneurship here. Our startups are becoming more competitive in the region,” said Brainsparks co-founder Artie Lopez. 

Likewise, e27 co-founder Thaddeus Koh said the Philippines is becoming the 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,” Koh said. 

The e27 co-founder said that with a rapidly growing population and a government that actively promotes foreign investments through sound policies, the Philippines has a “vast potential consumer base for business.”

According to the Global Startup Ecosystem Report, the Philippines’ startup ecosystem was valued at $6.4 billion, nearly doubled the $3.5 billion valuation the year prior. 

Brainsparks and e27 have partnered to introduce Echelon—a tech and startup business conference— in the Philippines.

Echelon Philippines 2024 is scheduled for September 26 and 27 at SMX Convention Center. It will feature business matchings that foster regional partnerships, facilitating funding and investments crucial for startup growth. 

“The Philippines is an ideal location for the tech community to flourish. We want to put the spotlight on the Philippines and create more opportunities for everyone through Echelon Philippines 2024,” Koh said. — Ted Cordero/BM, GMA Integrated News