DTI initiates plan to develop local roadmap for startups

CEBU, Philippines - The Department of Trade and Industry is planning to develop the Cebu Startup Ecosystem Development Plan within this year.

Maria Elena Arbon, provincial director of DTI-Cebu, said yesterday the agency will consult the startup community for the creation of the plan, including the academe, startups and government.

Arbon cited the local roadmap will be patterned after the existing National Startup Roadmap.

The agency will seek inputs from the local stakeholders to craft the roadmap.

DTI-Cebu has started developing a database on startup players in Cebu.

Arbon said that Cebu has the highest density in terms of startup population outside Manila.

After the completion of the Cebu startup roadmap, Arbon said a so-called Cebu Innovation Circle will be established to be composed of Cebu's startup community drivers.

There are also plans to create an angel group that would help fund local startups with the help of Cebuano businesses.

Yesterday, a mentoring program by DTI and Philippine Software Industry Association was conducted among prospective startups to mentor them on how to develop their respective startup ideas. 

It also aimed at identifying the financing options for these startups to thrive.

Participants composed of university students and professionals from Cebu and Bohol.

Previously, Filipino tech innovator Diosdado Banatao had cited key factors that may prevent local businessmen from investing in tech startups.

There were 19 groups of startup aspirants that attended yesterday, pitched their ideas and solicit advice from mentors.

These factors include the absence of research and development effort in technology which, he said, is a responsibility of academe and government in terms of support; the lack of stories of successful Filipino startups; and the culture of being afraid to take risks.

Banatao emphasized that businessmen in the Philippines need see that startups can rise and succeed in the country.

The Filipino tech innovator has been active in Silicon Valley which is home to the world’s largest technology and startup companies such as Facebook, Google and eBay, among the other tech giants. (FREEMAN)