DAVAO CITY – The Department of Trade and Industry-Export Marketing Bureau (DTI-EMB), in coordination with the global group Startup Genome and DTI 11, recently presented the Startup Genome’s Global Startup Ecosystem Report (GSER) 2018 in a bid to scaleup technology-enabled business startups in the region.

The said report showcased the ecosystem performance and success factors through global connectedness or global networking by over 30 countries around the world. They identified sector gaps and strengths, such as those found in financial technology, enterprise solutions, and artificial intelligence (AI) and machine learning.

This year, through DTI 11 and in partnership with DTI-EMB, Davao City aims to participate in this undertaking, which is considered as the new science of startup ecosystem assessment for the GSER 2019.

Now on the third leg of its series of focus group discussion (FGD) sessions in Davao City, after Manila and Cebu, representatives from national government agencies (NGAs), academe, incubators, accelerators, and ICT startups discussed the challenges and strengths in the information and communications technology (ICT)-related business sector.

It was noted that access to finance, talents, national and global market, connectivity and infrastructure, and connectedness among ICT startups are key challenges that need to be addressed for them to level up. However, with those challenges, Davao City has the following strengths that increased the opportunities for the said sector, to wit: good communication and interpersonal skills; presence of quality universities producing ICT talents; availability of workforce; ease of doing business; and a decent peace and order situation.

With the Startup Genome’s mission to empower metropolises in capitalizing on fast-moving trends, Davao City aims to drive economic growth and forge new opportunities for tech startups and aspiring entrepreneurs by insights gathered through benchmarking and global exposure in the GSER 2019.

“The Philippines’ economic growth rate is over six percent and is considered as one of the highest growth rates around the world. Rest assured that the agency will continue to provide initiatives and programs that will scaleup our startups and compete with foreign players. On the other hand, with strengthened collaboration with the private sector and the academe, we could create more successful startups that could share their best practices and be replicated among the startup ecosystem in the country,” DTI 11 Regional Director Maria Belenda Q. Ambi said.DTI11/MAB/JMM♦

Date of release: 29 August 2018