The Philippines bagged top ranks in five categories in the Global Startup Ecosystem Report by policy advisory services provider and researcher Startup Genome, the Department of Trade and Industry (DTI) said on Tuesday.
In a statement, DTI said the country was recognized for the following aspects: Global Ecosystem for Bang for Buck (top 10), Activation Ecosystem for Connectedness (top 5), Exit Growth Index (top 5), Output Growth Index (top 6) and Funding Growth Index (top 9).
Read more: The Manila Times
Metro Manila (CNN Philippines, May 21) -- Manila is among the friendliest cities in the world for financial technology (fintech) startups, according to a global research firm.
Startup Genome released its annual Global Startup Ecosystem Report on May 9, placing Manila in its Top 10 Global Ecosystems of 2019. Manila also ranked among the Top 5 locations in the “activation phase,” or those which are developing.
Among these cities were Taipei in Taiwan, Busan in South Korea, Calgary in Canada and Frankfurt in Germany.
Strong English-language skills and well-established outsourcing industries in Manila were cited as key drivers that encourage investors to move their startup operations to the Philippine capital.
Fintech companies compose 15 percent of Manila’s startups, with the market expected to grow to $10.5 billion by 2022 from about $5.7 billion last year.
Read more: CNN Philippines
MANILA, Philippines — The Department of Trade and Industry (DTI) is imposing a provisional safeguard duty on imported ceramic floor and wall tiles to provide relief to local players hurt by increased imports.
Trade Secretary Ramon Lopez said in Department Administrative Order 19-06 dated May 7 that a provisional safeguard measure in the form of a cash bond amounting to P3 per kilogram shall be imposed on imported ceramic floor and wall tiles.
He said the provisional safeguard duty would be implemented as “the DTI, acting under Section 7 of RA (Republic Act) 8800, the Safeguard Measures Act, found after preliminary determination that increased imports of ceramic floor and wall tiles have caused serious injury to the domestic industry.”
Under the Safeguard Measures Act, the country is allowed to impose safeguard measures or higher duties on imported goods when it is found that there is an increase in imports of a certain commodity and such has hurt the local industry.
Based on DTI’s preliminary probe, the volume of imports of ceramic floor and wall tiles increased in absolute terms from 2013 to 2016.
In addition, the DTI concluded that the domestic industry has suffered serious injury caused by increased imports of ceramic floor and wall tiles as the market share of domestic manufacturers declined to 15 percent in 2017 and 2018, from 96 percent in 2013.
The share of imports also grew to 87 percent in 2016 from four percent in 2013.
Earnings before interest and tax of the domestic industry also showed declining trend of 71 percent in 2014 and 203 percent in 2015.
While there was an increase of 92 percent in earnings in 2016, the declines were seen again in 2017 at 1,067 percent and last year with 157 percent.
The provisional safeguard duty on ceramic floor and wall tiles would be in place for a period of 200 days from the date the Bureau of Customs releases the relevant memorandum order or 15 days after DTI’s order is published in two newspapers.
Imports from developing countries in East and Southern Africa, West Africa, North Africa and South Asia would not be subject to the provisional safeguard measure.
While the provisional safeguard duty is in place, the Tariff Commission would be conducting a formal investigation to determine if it is necessary to maintain the measure beyond 200 days.
Read more from source at The Philippine Star
PRESS RELEASE: Philippines to showcase a bigger and better start-up delegation and participation at INNOVEX 2019 in Taipei.
Following the successful participation of the Slingshot Philippines Startup Pavilion and Delegation at Innovex in 2018, the Manila Economic & Cultural Office (MECO), and its commercial affairs section, the Philippine Trade & Investment Center (PTIC) in Taipei, are proud to bring a select delegation of top-notch and cutting-edge, high innovation start-ups and community builders to represent the Philippine Start-Up Community and Ecosystem at the bigger and better Slingshot Philippines Pavilion at INNOVEX 2019.
MECO Chairman and Resident Representative Angelito T. Banayo said “We are very excited to support the Slingshot Philippines Startup Ecosystem Pavilion and Delegation at INNOVEX this year, given that technology innovation cooperation is one of our priority industry collaboration areas with Taiwan. Recognizing Taiwan’s strengths and global leadership position in electronics manufacturing and technology innovation and leveraging the Philippines’ substantial market-size, global market access, emerging innovation community and the creative talents of our globally sought-after human resource - the partnership between our start-up communities will be a win-win collaboration for the two next door neighbors in today’s changing economic and technology landscape.”
In cooperation with organizing partners, Export Marketing Bureau of the Philippine Department of Trade and Industry, and QBO Innovation Hub, the Philippine delegation will once again showcase the best of Philippine startup technologies and game-changing solutions for the world today. The 11 start-ups offer cutting-edge innovation in diverse, currently relevant fields such as Artificial Intelligence, Machine Learning, Geospatial Mapping, Innovative Housing Solutions, Cyber Security, Smart Advertising & eCommerce, Education, FinTech, Logistics and Data Science-enabled Market Research.
MECO Philippine Trade & Investment Center is bringing 11 startups and 2 incubation accelerators to represent the best of the Philippine Start-up community at INNOVEX, Taiwan’s largest and most important annual start-up event.
“We are proud to have an impactful participation and excellent representation this year composed of the high-innovation, talent and creativity of the Philippine Start-Up community at Taiwan’s Innovex 2019, to showcase the diverse and cutting-edge solutions from our start-ups that aim to solve very current day-to-day problems, ” said DTI Trade Representative and MECO Director of Commercial Affairs Mr. Michael Alfred V. Ignacio.
Among the award-winning Philippine start-ups that will be represented by their founders are Antipara Exploration, Container Living Philippines, Cryptors, Gypsy, Investagrams, JazzyPay, Mober, Qikwire, Retailgate, Rumarocket, and Senti.
Antipara Exploration offers automated-data analyses in their sub-sub-marine geospatial mapping technologies for the maritime industry and marine environmental mapping. In a country-archipelago such as the Philippines with more than 7,106 islands, this is a crucial home-grown technology with many important applications.
Container Living Philippines, offers a modular-construction approach to offer modern housing solutions using shipping containers that are disaster-resilient and highly customizable to the client’s needs.
Cryptors, offers a free mobile app that ca detect and block hackers preying on free public-wifi platforms. They also revolutionized cybersecurity trainings, making them available at very low rates compared to prohibitive market service fees.
Gypsy is a Philippine advertising technology platform, that offers advertisers, not only the market reach, but valuable data-gathering technologies and hyper-targeting solutions to effectively launch campaigns via proprietary-apps installed in tablets in ride-hailing services and public transportation alternatives.
Mober offers a mobile platform to easily find and book location-based, on-demand tailor-fit trucking and moving solutions for businesses and individuals, similar to how ride hailing solutions do their businesses.
Three FinTech companies are also joining the Philippine delegation, namely investagrams, JazzyPay and Qwikwire.
Investagrams is a one-stop-shop platform that offers beginners guides and tips for individuals who want to invest in the stock market. Investagrams offers monitoring of hundreds of stocks realtime and the ability for users to engage on virtual trading transactions.
JazzyPay is a Philippine payment platform that offers efficient billing solutions for businesses from any part of the world, to bill their clientele. JazzyPay offers their services via their proprietary app, email, sms or other messaging platforms.
Qwikwire offers advanced business solutions such as Skas Property Management services, SAP-integrated billing and invoicing systems, cross-border settlements via their own proprietary blockchain powered multi-listing engine. Qwikwire also offers a niche service catered to provide comprehensive real estate solutions for brokers and property developers.
Among the Philippine start-ups offering Artificial Intelligence innovation applications are Retailgate, Rumarocket and Senti.
Retailgate uses its AI-powered solutions to help retailers gain competitive market intelligence through retail analytics. Employing artificial intelligence, they offer their platform to empower brick-and-mortar stores by providing access to AI-analyzed market information on customer traffic and dwell time, forecast demand levels, assess marketing effectivity and determine conversion rates.
Rumarocket developed its own AI-enabled algorithm that offers HR analytics and machine learning solutions for talent recruitment, management and retention for enterprises and companies in their HR and Recruitment functions. Rumarocket’s solutions are aimed ensuring meaningful impact on clients’ bottomline and strategic HR management.
Senti Techlabs offers its proprietary artificial intelligence-powered solutions to businesses for market and audience sentiment data collection and analyses, using natural language processing and machine-learning processes.
This year, and in addition to QBO Innovation Hub, another incubator-accelerator, Spring Valley Technology and Innovation Hub, located in Roxas City will join the Philippine delegation at Innovex. Spring Valley Technology and Innovation was created as a home for innovation and technology development both for local and international start-ups and technology developers in central Philippines. Spring Valley also partnered with the Province of Capiz and the Department of Trade and Industry to create Capiz’s Fablab and Innovation Center.
This year’s Philippine delegation to Innovex is a close cooperation and partnership of the MECO Philippine Trade and Investment Center in Taipei with the DTI Export Marketing Bureau and QBO Innovation Hub. The participating start-ups were selected following a rigorous selection criterial from a list of applicants after a call to participation was announced to the Philippine start-up community.
About the Manila Economic and Cultural Office (MECO)
MECO represents economic and cultural interests of the Philippines in Taiwan and has been authorized and conferred with authority to perform functions usually carried out by Philippine foreign missions but of a non-political, non-security nature. It performs consular functions and is tasked with the duty of protecting and promoting the well being of Philippine nationals in Taiwan.
About the Philippine Trade and Investment Center (PTIC) in Taipei
The Philippine Trade and Investment Center in Taipei is the commercial affairs section of the Manila Economic and Cultural Office and represents the Philippine Department of Trade and Industry for trade and investment promotion and representation in Taiwan.
ABOUT PTIC TAIPEI
The Philippine Trade & Investment Center in Taipei is the Commercial Affairs Section of the Manila Economic and Cultural Office and the representative office of the Philippine Department of Trade & Industry in Taiwan