Startup Philippines is embarking on ecosystem mapping project in cooperation with Mapme, an israeli based startup company that help promote local startup community through their mapping technologies.
The Philippines has a growing community of startup players despite all the challenges present in the ecosystem such as lack of funding, technology know how and weak internet infrastructure. The growth in startups is driven by strong economic outlook in the economy. The Philippines has been one of the fastest growing economies in Asia and has attained investment grade status from various international credit rating agencies. Strong growth in economy means rising market opportunities for startups.
The current market for technology-driven startups providing services to businesses has remained small but should not be long, as more investors and players are attracted now to look into the growth opportunities offered by promising local startups.
With the ecosystem mapping project, Startup Philippines hopes to help raise awareness of the stakeholders in the community by location. Progressive cities in the Philippines that are expected to be mapped include the key business centers such as Makati and Ortigas. It will also map other growing cities for startups such as Quezon City and Manila, the capital of the Philippines.