DTI launches mentoring program for local startups

CEBU, Philippines — The Department of Trade and Industry launched the Startup Island mentoring program in Cebu to help local startups grow.

DTI provincial Director Ma. Elena Arbon said the program, which is being piloted in Cebu, will give startups the opportunity to scale up their businesses  through learning and exchanging ideas with mentors and successful businessmen around the country. 

She said it will provide access to market to large enterprises and venture capitalists and nurture and cultivate future that will benefit the entire startup ecosystem as a whole.

"Mentoring is very important to help our startups grow," the DTI official said.

The startup mentoring program will mainly be targeted to maturing startups with the potential to penetrate the mainstream market.

The program targets at least 15 startups from Cebu and around the country for the rollout of the program.

The mentoring program composes of three phases including customer and company phase, product and market phase, and traction and pitch phase.

Jann Hiolen, one of Startup Island's proponents and founder of homegrown startup Sellax, said they are targeting startups with specific problems in their businesses and help them address these. 

He said there is definitely a need to help local startups in Cebu considering that it's lagging behind other cities and Asian countries in terms of startup growth.

For her part, Cebu Chamber of Commerce and Industry President Melanie Ng expressed the business sector will support startups that are of great help to businesses in terms of introducing tech solutions. 

"You have to have a market to make your startups viable," she said.

"In order for a business to grow, it has to be marketable," Ng said.

She said the chamber will fully support this initiative as it also aims to realize an innovation-driven economy. (FREEMAN)