The Philippine startup ecosystem is rapidly gaining traction, positioning itself as the fastest emerging startup hub in the world after Manila’s startup ecosystem recently doubled its valuation, according to experts at a recent forum led by startup incubator Brainsparks.
"The Philippines is a thriving hub for tech companies. Its strategic location in Southeast Asia, coupled with a highly skilled and affordable workforce, grants access to a massive regional market and acts as a gateway to neighboring economies,” he said. According to the recently published 2024 Global Startup Ecosystem Report, Manila’s startup ecosystem was valued at $6.4 billion, almost double the $3.5 billion valuation the year prior.
“With the recent growth that we’ve seen in the startup scene in Manila, the government is cognizant of the importance of its role in sustaining this growth. We are employing a whole-of-government approach to ensure we will continue to tread on an upward trajectory. Part of that goal is to ensure that the momentum of the Philippine startup ecosystem is not just sustained but also expanded to other parts of the country,” Pacolor said.
Echelon Philippines 2024 will feature showcases and business matchings that foster regional partnerships, facilitating funding and investments crucial for startup growth. The conference will share insights from thriving and emerging sectors, revealing new opportunities and inspiring participants to explore untapped markets.