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The Philippines’ Ecosystem for Technology Startups
The Philippines’ Ecosystem for Technology Startups
The Philippines’ Ecosystem for Technology Startups
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The Philippines’ Ecosystem for Technology Startups

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Technology-based startup enterprises are an increasingly important part of the business landscape in Asia and the Pacific. By applying innovative technologies to create new products and services, they can make a significant contribution to economic development while generating social and environmental benefits. However, to survive and then thrive, tech startups require an enabling ecosystem that includes supportive government policy, adequate access to capital, skilled personnel, and quality digital infrastructure. This report assesses the current ecosystem for tech startups in the Philippines, focusing on four sectors: climate change, education, agriculture, and health. The report discusses challenges facing tech startups in these sectors and provides recommendations.
LanguageEnglish
Release dateMay 1, 2023
ISBN9789292701000
The Philippines’ Ecosystem for Technology Startups

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    The Philippines’ Ecosystem for Technology Startups - Asian Development Bank

    THE PHILIPPINES’ ECOSYSTEM FOR TECHNOLOGY STARTUPS

    Gary Teves, Hannah Muralla-Palustre, Christopher Miguel Saulo, Jahjiel Pajutan, Mario Jordan Fetalino III, and Paul Vandenberg

    MAY 2023

    Country Report No. 7

    Ecosystems for Technology Startups in Asia and the Pacific

    Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO)

    © 2023 Asian Development Bank

    6 ADB Avenue, Mandaluyong City, 1550 Metro Manila, Philippines

    Tel +63 2 8632 4444; Fax +63 2 8636 2444

    www.adb.org

    Some rights reserved. Published in 2023.

    ISBN 978-92-9270-099-7 (print); 978-92-9270-100-0 (electronic); 978-92-9270-101-7 (ebook)

    Publication Stock No. TCS230116-2

    DOI: http://dx.doi.org/10.22617/TCS230116-2

    The views expressed in this publication are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent.

    ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. The mention of specific companies or products of manufacturers does not imply that they are endorsed or recommended by ADB in preference to others of a similar nature that are not mentioned.

    By making any designation of or reference to a particular territory or geographic area, or by using the term country in this publication, ADB does not intend to make any judgments as to the legal or other status of any territory or area.

    This work is available under the Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO) https://creativecommons.org/licenses/by/3.0/igo/. By using the content of this publication, you agree to be bound by the terms of this license. For attribution, translations, adaptations, and permissions, please read the provisions and terms of use at https://www.adb.org/terms-use#openaccess.

    This CC license does not apply to non-ADB copyright materials in this publication. If the material is attributed to another source, please contact the copyright owner or publisher of that source for permission to reproduce it. ADB cannot be held liable for any claims that arise as a result of your use of the material.

    Please contact pubsmarketing@adb.org if you have questions or comments with respect to content, or if you wish to obtain copyright permission for your intended use that does not fall within these terms, or for permission to use the ADB logo.

    Corrigenda to ADB publications may be found at http://www.adb.org/publications/corrigenda.

    Note:

    In this publication, $ refers to United States dollars and to Philippine pesos.

    All photos are owned by ADB unless otherwise stated.

    Cover design by Joe Mark Ganaban.

    Contents

    Tables and Figures

    Foreword

    Business models continue to evolve rapidly, spurred by new digital technologies and their deployment in providing goods and services in innovative ways. We can now order food, hail a taxi, move money, arrange travel, watch entertainment, shop for just about anything, and even take courses or consult a doctor using digital methods. At a deeper and often less visible level, technology is affecting production processes in the form of Industry 4.0. Technology-based startup enterprises—or tech startups, for short—are an important part of the evolving business-to-business and business-to-consumer landscape in Asia and the Pacific as well as globally.

    Startups develop in an ecosystem that can support—or hinder—their development. That ecosystem involves many national elements, but regional and international factors also are important, especially in increasingly open and globalized economies. Finance, often from venture

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