The Philippine startup scene is practically unstoppable. Rather than shutting it down in favor of more established corporations, government bigwigs and top companies are fostering the startup initiative to build the next big thing. Today, the coalition between the government, big business, and MSMEs comes to a head as the country’s first innovation hub opens its doors.
Deriving its name from the bahay kubo, the QBO Innovation Hub represents bayanihan or teamwork. QBO stands for the Filipino creative innovation so prevalent in the country’s startup scene today.
The QBO Innovation Hub brings the private and public sector together to develop, grow, and scale a competitive startup ecosystem in the Philippines. QBO is “not just an incubator,” says QBO Director Katrina Chan. “[QBO is] a startup enabler.”
The country’s first innovation hub will offer a variety of exclusive services including a platform to connect with relevant partners, a space to work, the sharing of knowledge about the startup life, accessible government services, and a flexible innovation program. QBO aims to offer more than burgeoning startup hotspots around Metro Manila.
QBO Innovation Hub President Butch Meily and Director Katrina Chan brings their expertise in both the private and public sector to aid aspiring entrepreneurs in their ventures. With their years of experience, QBO Innovation Hub partners up with big names like Ideaspace, J.P. Morgan, DTI, and DOST.
Big partnerships
A startup’s biggest chore will always be the government red tape. In light of this, QBO’s more attractive draw for prospective entrepreneurs is its accessibility to DTI’s services. The Innovation Hub is even located within DTI International’s building on Jupiter Street, Makati. Besides being easily accessible, DTI aims to inform QBO’s startups of the relevant processes needed for business. They hope to change the mindset that entrepreneurship and innovation are difficult ventures.
Being one of the country’s biggest financial institutions, J.P. Morgan also supports QBO’s mission to foster a healthy startup ecosystem. QBO’s most exclusive offering is the J.P. Morgan Incubation Program, which offers support from the financial institution to select and high-potential startups. By the end of the year, QBO hopes to support 10-15 startups with the exclusive program.
Ready for service
As early as now, QBO has opened its doors to startups. Whether they’re just in ideation or already in the implementation phase, any startup can approach QBO to be interviewed. In fact, prior to its ribbon cutting, QBO has already interviewed some startups for their program.
Those who face anxiety over applying need not worry. QBO’s initial interview is to determine where the startup is already at and how QBO can help them. Of course, there will be more hoops and testing after the first interview, but QBO aims to create a friendlier startup environment.
