Makati City is attempting to position itself as the Philippines’ Silicon Valley by encouraging and supporting new businesses. This is in reaction to Metro Manila’s low ranking in the most recent Global Startup Ecosystem Index (GSEI), which underlines the need for business-related education for long-term sustainability and growth for start-up owners. In collaboration with the RONIN Group of Companies and Digital Pilipinas, Makati’s local government launched the Resiliency Innovation Sustainability and Entrepreneurship (RISE) Challenge, an incubator program that offers cash grants, 12-week entrepreneurship training, and the opportunity to pitch to qualified investors.
Mayor Mar-Len Abigail “Abby” S. Binay, whose innovative public-private partnership (PPP)-led digital transformation efforts have positioned Makati as a model startup ecosystem, is excited about this venture. The Makatizen Card, Makatizen App, and Makati Public Wi-Fi System are examples of how she incorporates modern technology into municipal government procedures and operations to promote transparency, efficiency, and overall competitiveness. Her ambition, which she shares with her new partners, is for the Philippines to “rank higher in the worldwide startup environment.”
Since its launch in 2018, RONIN has aided startups in their growth by offering financial training as well as the tools they require to successfully manage and utilize their data. “Our significant investment in this campaign is based on our firm belief that Filipino entrepreneurs can compete with the majority of Asian unicorns,” says Yani de Guzman, RONIN CEO and Co-founder. Winning the Challenge requires more than simply taking home the money. Because of the training possibilities, the winners will be able to succeed as entrepreneurs.”
Amor Maclang, the convenor of Digital Pilipinas, the country’s largest private-sector-led tech-up movement, believes that “Digital Pilipinas is a platform that helps the Philippine startup ecosystem expand quickly. According to venture capital research conducted in the Philippines, companies attracted $858 million in new financing during the peak of the epidemic last year, nearly equaling the amount generated in the preceding three years combined. Without a doubt, the Philippines is catching up to its ASEAN neighbors and is on the verge of becoming a startup hotspot. “
The RISE Challenge will begin on February 24, 2022, and the application period will end on March 25, 2022. On March 31, the finalist announcement will be made, and the qualifying event will be held on April 8. This program will provide finalists with the chance to learn directly from the most skilled instructors and seasoned industry practitioners about finance, legal, marketing, organization-building, and effective pitching. The winners will also get a Php500,000 equity-free award, as well as 12 weeks of entrepreneurial training and supervised pitching to high-profile investors.
“This is the first program in the Philippines,” De Guzman continues. We are really thrilled about this collaboration because it will develop brave entrepreneurs who will lead flourishing businesses in the Philippines, creating more employment and providing products and services that will help Filipinos live better lives.”
RONIN is highly invested in and enthusiastic about the startup community’s growth. The firm joined the Manila Angel Investors’ screening committee, as well as the Department of Science and Technology’s (DOST) startup initiatives, StartUp Village, and Draper House. Hello PH, a travel and tourist company concentrating on ecologically responsible diving for foreigners, and Project Fort, a medical data analysis agency, are among the clients of the organization.
Mayor Binay encourages entrepreneurs to expand their enterprises in Makati, which has been recognized by national and international organizations that promote sustainable, green, and inclusive growth.
“I’d want to welcome all creative Filipinos to bring their enterprises to Makati,” she says. We provide a competitive atmosphere, amazing co-working locations, tax advantages, aid with business registration, and a dependable mentorship program here. Makati would go even farther by providing you with a PHP500,000 equity-free gift. Finally, at the conclusion of the program, we will introduce you to eligible investors, giving you the option to fund your enterprises. Participate in the RISE Challenge with us.”
To be part of the growing community of startup trailblazers, click on https://www.rise-program.com/be-a-participant for more details.
