Manila enjoys a spot in the top 10 Global Ecosystems in the world, according to the 2019 Global Startup Ecosystem Report by the research firm, Startup Genome. The Philippine capital is also among the top five cities when it comes to Activation, along with Taipei, Busan, Calgary, and Frankfurt. With the bustling tech scene in the country, it is essential for startups to be in the know how to do good in this industry.
Entrepreneur, investor, and startup coach Artie Lopez of Brainsparks Philippines shared the following information about the tech startup scene in the country today during this year’s Ignite 2019. One of the biggest tech and business conferences in the Philippines, the event gathered the speakers and investors from the big firms in Asia and connected them with the country’s most promising entrepreneurs and startup businesses.
Quality will always be more valuable than quantity
Though the past years have seen a surge in the number of investors throwing their money at those entrepreneurs who would be the next Mark Zuckerberg, Steve Jobs, or Elon Musk, we have also seen several failures. This might have been prevented only if their ideas are of higher quality and are based on business models.
Fintech is on the rise.
Filipinos are outstanding when it comes to building tech products and services. And with the government backing up and advocating for financial technology, the Philippines is not far behind its Asian neighbors such as Singapore, Malaysia, and Indonesia who are the frontrunners when it comes to startups.
Filipinos need to learn more about entrepreneurship and investing.
Filipinos are talented individuals, and some of them have been brewing good ideas in their head. However, some of them do not have the necessary knowledge when it comes to engaging with investors and raising funds. They would also need to touch upon their financial and business education.