“Introducing innovative products and creating new business models address changing societal and market needs”, remarks the Philippines’ Department of Trade and Industry (DTI) on startups. Over the past two decades, Philippine innovators and pioneers have laid the groundwork for the third generation of startups. The government’s support and investors’ confidence have led to the growth of this new generation of startups, driving the development of the three key pillars of the domestic startup ecosystem, logistics, e-commerce and fintech.
The Philippine startup industry is forecast to grow steadily at a CAGR of 26.7 per cent, increasing from USD 681.6 million in 2022 to reach USD 2,744.5 million by 2028. The shift to digital is one reason why startup companies are successful across the country. Many businesses digitized rapidly in response to lockdowns and other trading restrictions, while startups emerged across multiple industries to fill the digital gaps. The Philippines is also expected to see more mergers and acquisitions over the next four to eight quarters due to increasing competition.
In this edition of StartupCity, we present the list of the Top 10 Philippines Startups - 2022, recognizing the need of the evolving market in the region. Mineski Global is a company that helps organizations optimize their business performance and aggregate platforms for stakeholders through engagement, content and technology. We also bring to you thought leadership articles and exclusive insights from expert CIOs and CXOs - Neeti Virmani, Venture Partner, Loyal VC, Steve Taub, Managing Director, Investments, JetBlue Ventures, and Patricia Muoio, General Partners, Sinewave Ventures sharing their ideas on providing opportunities that investors and entrepreneurs require. We hope the valuable insights from industry thought leaders and organizations featured in this edition will guide you to come up with informed decisions for your organization.
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