The digital era has rattled multiple industries and signs indicate that this is just the beginning.
Disruption is the order of the day as startups offer increased convenience to customers at lower costs, facilitated by the integration of ubiquitous high-speed mobile connectivity, the Internet of Everything and advanced analytics. The barriers of entry have come crashing down with motivated and driven entrepreneurs competing with traditional businesses.
The new innovations are no longer just coming from the traditional epicenters of the various industries.
San Francisco, Beijing, Tel Aviv and Bangalore are some of the cities globally where the clusters of digital startups include entrepreneurs charting the future of industries ranging from finance to space travel.
Read more: https://business.inquirer.net/220293/operating-innovating-speed-startups
It is the second largest ASEAN nation of 102 million people and, similar to Indonesia’s geography, it has thousands of islands that forms the nation of the Philippines. An estimated 2.3m Filipinos are working overseas, bringing home US$26.92b worth of remittance in 2014 and helping the country spur its economic growth.
With a GDP of US$2,728 per capita and a well-educated English population, it is a country that is ready to expand and become a great consumer market. So how does one understand the Filipino market? And what challenges abound as a startup? I asked Filipino startups for their insights.
Understanding the Filipino consumer market
A digitally savvy nation
Francis Uy, founding CEO of Mobkard, a mobile loyalty and discounts platform, talks about the behaviour of Filipinos. He said, “We are the social media capital of the world (at one point and probably still is) and the mobile texting capital of the world. This is an extremely social market. It is also a cash economy with a low single digit credit card penetration rate. Filipinos are also relatively young (average age is mid-twenties) and have a bigger population growth than most Asian countries.”
Read more: https://www.techinasia.com/talk/philippines-eyes-local-startups
A new program wants to help tech startups in the Philippines learn some lessons from Israel. The IdeaSpace Foundation and the Embassy of Israel in the Philippines have launched a search for the best innovative idea to represent the Philippines in the DLD Tel Aviv Digital Conference this year.
The winning startup will attend and present its idea at conference, the largest international tech gathering that will bring together venture capital firms, investors, and inventors in Israel, on September 6 to 12.
This is the first time that the Philippines will participate in the event. Israel is now famous for tech juggernauts like car navigation app Waze, website creator Wix, and accident prevention software Mobileye.
“The Philippine startups representative to this conference stand to gain a lot of insights, possibly investments, as the world of startups converges during this week-long event,” says IdeaSpace president and co-founder Earl Martin Valencia.
“The startup ecosystem created in Israel is a source of emulation and presents opportunities for partnerships on the international level. Considering the Philippines’ aspiration, its participation will add to its capacity in the hi-tech arena,” adds Israel’s Ambassador to the Philippines, Effie Ben Matityau.
Read more: https://www.techinasia.com/talk/philippines-hopes-learn-israels-startup-success