MANILA, PHILIPPINES, February 16, 2022–The Department of Trade and Industry (DTI) and QBO Innovation Hub (QBO) launched a market expansion program in February aimed at Filipino startups looking to pursue business opportunities in Southeast Asia.
The DTI Global AQELERATION Program (GAP) is an acceleration and soft landing program that will help mature Filipino startups enter Southeast Asian markets and support various needs such as business development, fundraising, and other strategic opportunities.
“Over the past two years, we have seen Filipino startups grow and expand, and it is high time that they receive support as they expand their business to new markets,” shared DTI Undersecretary Rafaelita Aldaba. “Our homegrown startups have the potential to be future unicorns and tech leaders, and the DTI GAP will enable these startups to reach new markets and customers and fulfill their potential.”
The program is composed of two phases: a 12-session acceleration phase which would help startups develop a feasible market expansion plan and strategy through a series of learning sessions; and a 3-month post-acceleration phase which will focus on its execution. Out of the startups participating in the acceleration phase, only ten will be selected to move forward with the post-acceleration.
This program will be implemented in partnership with international accelerators and trade missions in ASEAN.
“The startups that will be onboarded for this program include Prosperna, Senti AI, Plentina, ChatGenie, Agro-Digital PH, Frontlearners, Wela School Systems, Steer by Quick Reach, Race Ya, MedCheck, OMG! (Oh My Genie!), Automart.ph, Dealogikal Corp., Ask Lex PH Academy, and FHMoms, Inc.”
“We have entered a new phase in the ecosystem where more Filipino startups are not only seeing larger investments but are also ready and looking to venture outside of the country to pursue growth. This program will help our startups gain a foothold in the rest of Southeast Asia, and eventually even expand to Europe, North America, and the rest of the world,” said IdeaSpace Foundation and QBO Innovation Hub Executive Director Katrina Rausa Chan.
“As the ecosystem matures, so should the level of support, and we’re glad to be working with DTI to pave a path for Filipino startups to become regional and global giants.”
The DTI-GAP will run until June 2022. To learn more about the program and the startups, visit the DTI-CIG Facebook page at www.facebook.com/DTI.CIG.
QBO Innovation Hub
QBO (‘ku-bo’) is an innovation hub or a platform for the start-up community to collaborate, develop talents, and grow. We believe in the vision of Filipino start-ups changing the world. We provide start-ups with support and resources through events and capacity building programs, as well as focused interventions designed to improve access to markets, knowledge, capital and talent. Created in 2016 through a partnership between IdeaSpace, J.P. Morgan, DOST, and DTI, we have been an active player in creating a competitive start-up ecosystem in the Philippines.
Website: www.qbo.com.ph
Competitiveness and Innovation Group
The DTI-CIG oversees the DTI’s initiatives in preparing industries for the Fourth Industrial Revolution and digital transformation, establishing Regional Inclusive Innovation Centers (RIICs), developing new creative industries, and growing a robust startup ecosystem. (30)
