{"id":271043,"date":"2020-10-07T03:53:12","date_gmt":"2020-10-07T07:53:12","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=271043"},"modified":"2025-01-18T15:52:41","modified_gmt":"2025-01-18T20:52:41","slug":"ph-market-now-more-open-to-startups","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/10\/07\/ph-market-now-more-open-to-startups\/","title":{"rendered":"PH market now more open to startups"},"content":{"rendered":"
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To provide an investment-friendly environment for startups, he said the Philippines needs to implement \u201ca lot of structural improvements\u201d adding this will also attract foreign startups to expand in the country. (Pexels photo)<\/figcaption><\/figure>\n

MANILA<\/strong> \u2013 The coronavirus disease 2019 (Covid-19) pandemic has made big companies notice startups as they have the digital knowledge to enable the \u2018big guys\u2019 to operate amid the global health crisis.<\/p>\n

In an online event of the German-Philippine Chamber of Commerce and Industry (GPCCI) Tuesday, Kickstart Ventures, Inc. co-founder, senior vice president and treasurer Dan Siazon said the Philippine market becomes more open to talk and engage now with startups, a key behavioral change in the local market.<\/p>\n

\u201cGenerally, if you ask a bank to talk to a startup, there\u2019s no way. They will always go for the IBM or the blue-chip company for the solution. But that is changing, we see (it) even in our portfolio.<\/p>\n

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There are opportunities opening up, with the \u2018big guys\u2019 willing to talk to \u2018small guys,\u201d Siazon said.<\/p>\n

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To provide an investment-friendly environment for startups, he said the Philippines needs to implement \u201ca lot of structural improvements\u201d adding this will also attract foreign startups to expand in the country.<\/p>\n

Gravitas Prime director for venture strategy Joseph de Leon said the pandemic has accelerated the local startup ecosystem and also tested its resilience.<\/p>\n

De Leon added there has also been a rapid digital adoption in Southeast Asia as people that are expected to do online transactions by 2025 are already onboard.<\/p>\n

\u201cI think this time is a clear reminder that change is coming; it is already here. And I think a lot of startups and a lot of us individually are basically reevaluating, revaluing, and reinventing ourselves and opportunities,\u201d he said.<\/p>\n

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A survey of the World Bank, the National Economic and Development Authority, and the Department of Finance reported that many companies have turned to digital solutions to continue their businesses amid the pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA \u2013 The coronavirus disease 2019 (Covid-19) pandemic has made big companies notice startups as they have the digital knowledge …<\/p>\n","protected":false},"author":44,"featured_media":271045,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-271043","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-kris-crismundo","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/271043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=271043"}],"version-history":[{"count":2,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/271043\/revisions"}],"predecessor-version":[{"id":285483,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/271043\/revisions\/285483"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/271045"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=271043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=271043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=271043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}