Starting the Engagement: The Corporate-Startup Engagement Economic Forum

22.11.17 AHK News

The German-Philippine Chamber of Commerce and Industry (GPCCI) together with the German Embassy Manila, last 16 November 2017, hosted the Economic Forum entitled “Corporate-Startup Engagement” held at the German Club Manila. Mrs. Diane D. Eustaquio, Executive Director of IdeaSpace Foundation, engaged the member-participants of the potent role of corporations in accelerating innovation in the Philippines through start-ups.

Ms. Eustaquio identified that Filipinos are trained to be employees than entrepreneurs explaining the low entrepreneurial skills and technological capabilities. These shortcomings, together with a fragmented government system, could explain why the country ranks 56th of the 138 countries included in the Global Competitiveness Index (GCI) 2016-2017 - a dismal rank compared to neighboring countries Singapore, who ranked 3rd, Malaysia at 23, and Thailand at 32.

Thus, IdeaSpace, since 2012, advocates the combination of technology and entrepreneurship in transforming the economy through innovation. They inspire- from grassroots communities, accelerate- through programs to launch these startups, and integrate- by partnering with the private and public sector to actualize their goals.

To illustrate, the speaker identified some startup companies also present during the Forum as to how they enhanced customer experiences (TimeFree), employee engagement (Blood Hero), employee benefits (Fetch), new products (Taxumo), and corporate social responsibility (Frontlearners). They are the successful products of engagements done with corporations in accelerating their businesses. Among the 12 pillars of the GCI, research & development spending and university-industry collaboration are two of the pillars in which corporations, through networking, ventures, and investments, to name a few, play a tremendous role. In doing so, the necessary capabilities and competitiveness of the country would increase. Indeed, corporation and startup engagements might be the key to a more prosperous Philippines.

The GPCCI would like to extend its gratitude to Mrs. Diane D. Eustaquio for imparting us with her knowledge and commitment on Startup Engagements and to the participants for their presence and participation.