Local startups show corporate business leaders their prospects for growth
Business
leaders have found key learnings from the local startup industry on how to
pivot as technologies and demands evolve continuously.
At
the INQBATION Startup Showcase arranged by QBO Innovation Hub (QBO) and hosted
by J.P. Morgan at their BGC Taguig office, six high performing local
startups presented their business models and plans on how to scale up their
operations to corporate partners J.P. Morgan, Smart, PLDT, investors, and other
startup stakeholders.
The
first three startups that presented were representatives of fellow startup
enablers, namely Magpie, Innovantage, and Taxumo, while the last three startups
are currently under QBO and J.P. Morgan’s Incubation Program, in which the most
promising, innovative and scalable ventures are given the opportunity to
develop impactful programs while experiencing dedicated mentorship from some of
the country’s top executives
The
incubatees who participated in the showcase presented their business models and
growth plans. Said startups are AdMov, an advertising platform that uses
location data with facial recognition to generate and deliver personalized
content and advertising; Cropital, a crowdfunding platform connecting anyone to
help finance our farmers; and Pushkart.ph, an online grocery delivery service.
The
INQBATION Startup Showcase also featured an exhibit and business matching area
where other startup incubatees and ecosystem stakeholders were able to display
their businesses. This includes fellow startup enabler, Launchgarage and other
QBO incubatees, namely Exora, an online bidding platform that lets businesses
connect with retail electricity suppliers; Senti, a social media
monitoring platform that analyzes content including local dialects and
colloquial language; MAD Travel, a tourism platform that provides alternative
and meaningful experiences to marginalized communities; and OneWatt, a
non-invasive predictive motor health monitoring system.
QBO
President, Butch Meily passionately shared how important it is that the private
and public-sector support startups. “The
economic multiplier effect of startups is indisputable. The largest companies
in the world today like Google and Facebook are companies we never heard of a
few years ago. With just a relatively small investment, we have created a whole
new sector of the economy - one that will foster thousands of jobs. We have
created this platform to not only to help promising startups grow but to also
aide them as the industries they operate in begin to shift. We will teach them how
to survive.”
Companies
like J.P. Morgan also acknowledge the potential and impact of tech startups and
are invested in helping them scale up. “The
startup industry in the Philippines, while young, shows potential to shape
industries of the future. We remain committed to supporting local entrepreneurs
as they become engines of job growth and economic vitality across the
communities they serve,” said J.P. Morgan’s Managing Director and Senior
Country Officer, Roberto L. Panlilio.
The
J.P. Morgan Incubation program prioritizes startups who are from or cater to underserved communities. They are exposed to curated workshops, have access to
professional services from government agencies, the Philippine Stock Exchange,
and major investors, and receive assistance to exiting. The founders are also
connected to local and international mentors who are either investors,
executives, or successful startup founders.
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