The Philippine startup scene has significantly grown since the early 2000s. There are about 700 active startups in the country today, a significant increase from only 100 in 2015. Most are active in fintech, media and entertainment, and e-commerce. Other market segments are emerging but still in the early stages of development. These include sectors in which startups are not only making an economic impact but also promoting human and sustainable development.

Government policies and other components of the ecosystem are supportive of startups. However, startups face challenges in securing funding and getting the support they need. Other key constraints include a lack of local talent and tech mentors, digital infrastructure, and digital literacy.

The report discusses challenges facing tech startups in the Philippines and provides recommendations. It is the seventh country report in the series Ecosystems for Technology Startups in Asia and the Pacific.

Contents

• Introduction
• Overview of the Philippine Startup Sector
• The Philippine Startup Ecosystem
• Recommendations
• Appendix: Online Survey for Philippine Startups

Published May 2023.
Source: Asian Development Bank

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