MANILA, Philippines - Singapore-based Monozca Foundation is opening a 14,000-square-meter incubator facility called the 'Cocoon SME Global Hub' in the heart of Filinvest Corporate City in Alabang, to provide services to small and medium enterprises (SMEs).
The facility, the largest in Asia for SMEs, was launched to address the need for an integrated office and retail platform bundled with support services such as branding, marketing, packaging, distribution, international secretarial and trade services and SME financing from local and international institutions.
In a recent interview during the Forbes Conference planning session, the foundation's chairman, Paul Monozca, cited the need for international investments to “trickle down to the SMEs†to spur growth as it employs the majority of the workforce in the Philippines.
“We therefore need a facility which can guide our small and medium enterprises from various industries to go global, mentored by the best minds in our generation and most of all, assist them to grow their businesses without eating up
their ownership of their companies†he said.
A typical 11 to 20 sq.m. cocoon space integrates a small office with a retail area for customers to interact with the entrepreneurs in real time using an on-line system and the latest in internet technology for training. Product sales are done to a global audience on a daily basis via the Bargain Bay catalogue. Only 200 companies nationwide will be selected based on a strict selection criteria of products and services which is in demand globally. Application forms can be obtained via email at cocoonhub@gmail.com.
Monozca, a Filipino, is known as the architect of the world’s first global bill payment system used by automated teller machines in the 1990ss for SME trading. He is also the developer of the Coral World Park in Palawan, the Spirit Sports University and is the key investor of the Formula Green Corporation and serves as Chairman of the American Basketball Association, largest pro-basketball league in the US. He received the second Singapore Sports Inspirational Award in 2006 and is the founder of one of the largest philanthropic funds in Europe which supports education, renewable energy, ocean protection and sports.