High-impact tech startups get boost from INQBATION Startup Showcase 2019

QBO Innovation Hub, J.P. Morgan team up to find startups elevating PH startup landscape

Photo 1: Filipino startups making a difference. Department of Science and Technology Secretary Fortunato de la Peña (middle) graced the recently held INQBATION Startup Showcase, an initiative of QBO Innovation Hub in partnership with J.P. Morgan where 15 high-impact startups showcased their ideas and stories of success.

There is no problem too difficult for a plucky startup with a purpose.

Startups have gained increasing recognition for offering solutions to problems, and startups in the Philippines are no exception. Tech startups that are leveraging artificial intelligence (AI) and machine learning capabilities are also gaining ground, with some setting their sights on regional expansion even in the early years of their inception.

Kumu, a livestream and community platform, which only started last year, has exhibited an explosive 2000% growth rate since it started. The app has been downloaded almost one million times and is currently the only Filipino company to be included in Google Play’s Top 10 grossing social apps. Roland Ros, the company’s co-founder, shared that revenue has been exponentially growing 300% quarter on quarter, as it has found a way to monetize global Filipino millennial and Gen Z users. Hundreds of content creators are now earning part time income on the app as well, with a growing base of full-time creators earning as much as 50,000 pesos a month.

Senti, a data and sentiment analysis platform, started as a one-man university research project that sought to better understand local jargon and dialects. The company has since grown to become one of the most highly-recognized AI and natural language processing companies in the Philippines. Ralph Regalado’s brainchild is now home to half of the country’s Google Developer experts and is helping to create high-value tech jobs in the lucrative AI field in the Philippines. Senti has since expanded to Singapore and Malaysia because of its success.

Another startup that has made a positive impact is Investagrams, a social fintech platform which helps Filipinos invest in the stock market through in-app tutorials, virtual trading, social networking, and other tools designed to make investing in equities more accessible, easy and fun. Only three years old, Investagrams now has over 360,000 users. Investagrams caters not only to seasoned traders and investors but also to regular Filipinos, from millennials to retirees, and even overseas workers seeking to increase the value of their savings. The startup also regularly conducts programs on financial literacy and equities investing that has attracted thousands of participants, with the goal of increasing participation in the stock market among Filipinos (currently at less than 1%) to at least 5% in the next five years. The fintech startup founder and CEO John Christian Bisnar announced that the company is expanding to Singapore.

Kumu, Senti, and Investagrams, along with 12 other startups, are just some of the rising stars in the Filipino startup scene featured in INQBATION Startup Showcase 2019.

“The INQBATION Startup Showcase draws attention to awesome Filipino startups that are creating innovative and scalable solutions for real world problems, and we hope that investors, corporations and partners across the globe will take notice,” said Katrina Chan, Director of QBO. “The startups we featured today grew with QBO and J.P. Morgan through the INQBATION program and are creating tremendous impact. We’re glad to give them the spotlight they deserve and invite more partners to join us in uplifting our burgeoning local startup community.”

The event is organized by QBO Innovation Hub, a platform for the startup community to collaborate, develop talent, and grow, that was created through the joint effort of the Department of Science and Technology, the Department of Trade and Industry, IdeaSpace, and J.P. Morgan.

“It was a privilege and a pleasure to help create opportunities for these startups,” said Carlos Ma. G. Mendoza, Senior Country Officer for J.P. Morgan Philippines. “We are proud to have supported this program as it enabled small businesses and positively impacted underserved communities.”

“The vision for this program is for QBO and J.P. Morgan, as well as other partners, to open up more opportunities for startups and founders to grow,” explained Rene “Butch” Meily, President of QBO. “We want to give people who are creating scalable, positive impact through their startups a better shot at success.”

Photo 2: INQBATION Startup Showcase 2019, an initiative championed by QBO Innovation Hub and J.P. Morgan, provides startups with access to resources, mentorship, and network to help them scale up their business. Photo shows from left to right: INQBATION Startup Showcase Program Lead Ross Fallorina; Kumu President Rexy Dorado; Washub head of Operations Brean Abrea; OneWatt Chief Technology Officer Paolo Samontanez; Learntalk Managing Director Nicolo Luccini; DTI-EMB Assistant Director Agnes Legaspi; Streetby CEO Rhey Minoza; DOST- PCIEERD Senior Science Research Specialist Engr. Edward Paul Apigo; MAD Travel Co-founder Rafael Dionisio; DTI-EMB Director Senen Perlada; J.P. Morgan Philippines Head of Communications Patricia Anne Javier-Gutierrez; QBO President Rene “Butch” Meily; J.P. Morgan Philippines Senior Country Officer Carlos Ma. G. Mendoza; QBO Director Katrina Chan; Investagrams CEO JC Bisnar; Lexmeet CEO Atty. Marlon Valderama; Exora COO Matt Tan; Payo CEO Liron Gross; Senti CEO Ralph Regalado; Container Living Lead Innovator Mac Evangelista; Pushkart.ph CEO Joshua Aragon; and QBO Head of Operations Natasha Bautista.

Meily added that by showcasing startups that have the potential to change lives as well as succeed as a business, they hope to get more companies and institutions to realize the value of supporting local startup ecosystem.

Aside from the startups mentioned, the showcase also featured AdMov, Cropital, Pushkart.ph, Exora, Learntalk, OneWatt, Payo, Lexmeet, Streetby, Washub, Container Living, and MAD Travel.

QBO said that it will continue to support startups in different ways including INQBATION, an acceleration program where the country’s most promising but underserved startup founders receive mentorship, training, exposure, resources and other support tailor fit to their needs. The INQBATION program was created in order to help highly promising Filipino tech startup companies scale up, fundraise and become globally competitive-- in the process generating jobs, developing the technology sector and creating impact. 

QBO envisions more organizations becoming more involved with Filipino startup companies— whether as mentors, investors, or customers—and being able to help more local startups attain success.

For more information about the INQBATION Startup Showcase 2019, visit https://www.qbo.com.ph/incubation/.

Hone the next big startup with QBO’s Startup Roadshow

The multi-city roadshow aims to level up tech startups, small businesses all over the country

The future of Philippine startups looks bright with the Philippines national ranking up by 16 positions, according to the recently released StartupBlink Ecosystem Ranking Report. To continue this momentum, QBO Innovation Hub, the Philippines’ first public-private sector initiative which aims to connect, transform, and empower Filipino startups, holds the Startup Roadshow starting this May.

The roadshow aims to inspire innovators and enable communities throughout the country through sessions on startup business concepts and tools, ideation, design thinking, business model canvas, and local ecosystem mapping. Facilitated by highly experienced QBO members and startup founders, the workshops are designed to be fun and engaging to spark the participants’ creativity as they kickoff their startup journey. The event also features panel discussions and networking opportunities for those wanting to connect with fellow tech leaders.

“The local startup ecosystem continues to grow due to sustained confidence in the country’s economy, technological advancements, and newly-introduced regulations such as the ‘Innovative Startup Act’ which seeks to promote ease of doing business in the Philippines,” says Katrina Chan, Director of QBO Innovation Hub. “While it’s all helpful in creating a healthy business environment for Filipino entrepreneurs, there are more opportunities to bring cutting-edge ideas to life.”

This is the second time that QBO Innovation Hub is holding the roadshow across major cities in Luzon, Visayas, and Mindanao. In 2018, 13 cities and over 1,300 participants joined the first run of the roadshow. Government organizations signed partnerships with QBO to contribute to countryside development efforts. The Department of Information and Communications Technology (DICT) was among the first to get on board, sponsoring programs in 7 cities last year.

QBO hopes to make this year’s roadshow bigger through the support of more partners, communities, and business owners. Interested partners who want to bring the workshop to their respective communities, schools, or cities can host an introductory workshop using QBO’s set module. Partners wanting to learn specific skills or learn more about certain topics can have custom-made workshops as well.

“We saw the impact of last year’s roadshow in answering what most aspiring startup founders want to know: ‘Where do we start?’ We want to help them figure out the answer,” adds Chan. “We’d also like for more partners to come on board with us to help discover the next wave of homegrown startups that will put our country on the global innovation map. Who knows? The next big thing may be in your school, your community, or your city.”

To learn more about the Startup Roadshow, visit http://www.qbo.com.ph/ and https://www.facebook.com/QBOphilippines/ or email karla@qbo.com.ph.

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About QBO

QBO (‘ku-bo’) is an innovation hub or a platform for the startup community to collaborate, develop talent, and grow. It provides startups with support and resources through events and capacity building programs as well as focused interventions designed to improve access to markets, knowledge, capital, and talent. QBO is the country’s first public-private initiative for startups, created through a partnership between IdeaSpace, J.P. Morgan, Department of Science and Technology, and Department of Trade and Industry.

Spurred on by the vision of Filipinos startups changing the world, QBO’s mission is to create a globally competitive startup ecosystem in the Philippines.

Startup enabler QBO launches QBO App to industry partners, startup professionals

QBO Innovation Hub, the country’s first public-private initiative for startups, recently launched the QBO App, a virtual hub for startups all over the country. The QBO App has already garnered over 100 downloads on the Google Play Store. The app is also available for download on iOS.

The program was headlined by the top-tier leaders of QBO’s public and private partners and attended by over 200 guests from the startup ecosystem, including notable founders and entrepreneurs, mentors and investors, and representatives from various Technology Business Incubators (TBIs), startup enablers, incubators, and corporations.

Some notable guests included local startups like Cropital, Pushkart, and Tripkada. The event was also attended by top executives from QBO’s public and private partners, including Ola Almgren, United Nations Resident and Humanitarian Coordinator, United Nations Development Programme (UNDP); Chaye Cabal Revilla, CFO of Smart Communications, Inc.; Gil Chua, Chairman and CEO of DDB; and Monchito Ibrahim, Undersecretary of the Department of Information and Communications Technology (DICT).u

The lineup of speakers at the launch included QBO’s founding partners, such as Secretary Fortunato dela Peña of the Department of Science and Technology (DOST); Assistant Secretary Rafaelita Aldaba of the Department of Trade and Industry (DTI); and Roberto Panlilio, Senior Country Officer of J.P. Morgan Philippines.

The QBO App is a virtual hub or a digital space where startups and entrepreneurs can come together to connect and collaborate with other players in the startup ecosystem and contribute their own knowledge and information with the community. It is an extension of QBO’s on-ground efforts to unite and empower the local startup ecosystem to work towards the same vision of Filipino startups changing the world.

“QBO App’s prime purpose is to connect the dots in the local startup ecosystem, not just for startups in Metro Manila, but for Philippine startups, investors, and collaborators all over the world. It’s an avenue for Filipino startups’ ideas to move forward,” said Katrina Chan, Director, QBO.

Rapid growth

“What makes our platform so strong is that there are so many passionate and dedicated individuals in the startup ecosystem and this is the platform they’ll be using to connect with each other,” added Chan.

“The app’s growth is a testament to the worthiness and effectiveness of its mission. It’s a more convenient and accessible way to stay on top of the startup ecosystem, whether you’re a founder, mentor, or investor. It’s also very appealing to some of the younger Millennials who seek to establish themselves in the startup industry, as it’s a user experience that they’re more familiar with,” said Rowena Cristina L. Guevara, DOST Undersecretary.

QNNECT, QLLABORTE, QNTRIBUTE

The QBO App is designed with the following functions in mind: QNNECT, QLLABORATE, AND QNTRIBUTE.

The app’s QNNECT feature allows founders to get in touch with other players in the industry and form partnerships. Through the app, mentors and investors can also discover new businesses and other potentially disruptive investments.

“One of the more important aspects of the QBO program as well as this new app is that it provides members with easier access to world-class mentors, business leaders, and other entrepreneurs who’ve thrived across industries. This collaborative environment and sharing of best practices builds and strengthens even further the local startup community,” said Patricia Anne Javier-Gutierrez, Head of Communications at J.P. Morgan.

The QLLABORATE function allows members to see what startup events, opportunities, and programs are happening when and where. Startups can also better collaborate with each other and reach out to special guests or speakers through the app’s ‘Groups’ feature. Members can also access relevant resources through the app, such as startup reports, government forms, powerpoint presentations from speakers, and other documents that are all downloadable exclusively in the app through the ‘Content’ function.

Much like other social networking sites, the QBO app is also the perfect avenue to QNTRIBUTE. Startups can share news or push their products and services through the News function, where they can post videos, photos, links, or other startup-related content in a social media-like timeline.

How to download the app

The app can be found on either Google Play Store or the App Store. Search for “QBO Innovation Hub”. After downloading, register through e-mail, cellphone, or Facebook. Users will have to wait for their membership approval from the QBO team. Once approved, they can create their profiles and begin to QNNECT.

For more information about QBO, please visit www.qbo.com.ph.

Confident and Optimistic Entrepreneurs Uncovered in 1st PH Startup Survey

Filipino startups are confident and optimistic, with plans ranging from conducting initial public offering (IPO) to tapping new markets within and outside the Philippines. To achieve their goals, they want to make their businesses sustainable through improved tax incentives, greater ease in doing business, and better access to capital.

These sum up the findings of the 2017 Philippine Startup Survey, which will be unveiled during Slingshot ASEAN:Startup and Innovation Summit on 20 October 2017 at the Philippine International Convention Center (PICC) in Manila. The survey was conducted by Isla Lipana & Co./PwC Philippines (PwC), the Knowledge Partner for the summit, in partnership with QBO Philippines, the country’s first public-private initiative for startups formed in 2016.

Mary Jade Roxas-Divinagracia

Deals and Corporate Finance Managing Partner of Isla Lipana & Co./PwC Philippines

PwC Philippines’ Deals and Corporate Finance Managing Partner Jade Roxas-Divinagracia, explains: “Respondents were asked about their experiences, insights, motivations, plans, and needs. The report also gives a snapshot of the beginnings and the current status of the Philippine startup ecosystem.”

Rene "Butch" Meily

President of QBO Philippines and IdeaSpace Foundation Inc.

“Through insights gleaned from this report, we hope that the government and private sector can continue to collaborate to support entrepreneurs in turning their ideas into reality,” says Rene “Butch” Meily, President of QBO Philippines and of IdeaSpace Foundation, Inc.

Diane Eustaquio

Executive Director of IdeaSpace Foundation Inc.

IdeaSpace Foundation, Inc. is one of the founders of QBO Philippines. Its Executive Director, Diane Eustaquio, notes: “The journey though is not going to get any easier as the landscape is VUCA (volatile, uncertain, complex and ambiguous). Let us continue to work on paving the way for Philippine-based technopreneurs and their innovations so that they can prove their impact on creating greater business value and a brighter future.”

Alexander Cabrera

(PwC Philippines Chairman and Senior Partner)

Atty. Alexander Cabrera, PwC Philippines’ Chairman and Senior Partner, has nothing but respect for the 106 CEOs and founders who participated in the survey. “I hope that the stories will inspire other startups, investors, corporates, and the government to work together, and build great companies. There is a huge multiplier effect to empowering aspiring entrepreneurs.”

Survey highlights:

•   35% of the respondents launched their startups in 2016, and 19% launched in 2017.
•   43% are in the pre-revenue phase, while 37% have annual revenues below PHP2m.
•  When they were starting their businesses, the top challenges they faced were capital requirements (88%), regulatory requirements (54%), and general economic/business conditions (50%).
• 63% are planning to raise equity financing to finance their growth.
• 47% are planning to raise less than US$1m in the next three to five years, while 27% are planning to raise between US$1m and US$3m.
• 94% are planning to welcome an investor in the next three years.
• Primary uses of funds in the next three to five years are product development (39%) and marketing initiatives (29%).
• Strategies for growth in the next three to five years are to improve existing products or services (84%), introduce new products or services (79%), and enter new territories outside the Philippines (61%).
• 63% are planning to conduct an IPO in the next five to seven years.
• 95% are planning to enter new territories in the next five years.
• New markets to tap are other areas in the Philippines (56%), Indonesia (59%), Thailand (57%), Malaysia (55%), and Vietnam (52%).
• To help startups build sustainable businesses, the top focus areas for improvement are tax incentives for startups (59%), ease of doing business (59%), and access to capital (55%).

QBO Philippines co-founder, the Department of Science and Technology, expresses its desire for the startup community to thrive. DOST Secretary Fortunato De La Peña says, “May everyone realize and appreciate the entrepreneurial environment that has been set up especially for those whose agenda includes not only having a robust source of livelihood but also contributing to the country’s development on the overall.”

For his part, Secretary Ramon Lopez of the Department of Trade and Industry, another QBO Philippines co-founder, shares the same sentiment: “We are confident that with the demonstrated capacity of the Filipino in terms of creativity, talent, and hard work to be innovative and entrepreneurial, plus the continued partnership among stakeholders, we can build an inclusive innovation and entrepreneurship ecosystem that can help in the development of MSMEs.”

About QBO

QBO (‘ku-bo’) represents bayanihan or teamwork. They invite entrepreneurs, talents, and mentors and investors alike to come together and make ideas flourish, showcase Filipino innovation, and build great companies.

QBO (‘ku-bo’) is an innovation hub, or a platform for the startup community to collaborate, develop talent, and grow. It provide startups with support and resources through events and capacity building programs as well as focused interventions designed to improve access to markets, knowledge, capital, and talent.  QBO is the country’s first public-private initiative for startups, created through a partnership between IdeaSpace, J.P. Morgan, DOST, and DTI. Spurred on by the vision of Filipinos startups changing the world, QBO’s mission is to create a globally competitive startup ecosystem in the Philippines.

QBO VISION

Filipino startups changing the world.

QBO MISSION

Developing a globally competitive startup ecosystem in the Philippines by encouraging collaboration between the public and private sectors, developing the startup community and providing business incubation from ideation to exit.

To fulfill their mission to develop a globally competitive startup ecosystem, they believe in three core actions to achieve it:

TO ENCOURAGE QLLABORATION

TO DEVELOP THE STARTUP QMMUNITY

TO ASSIST IN INQBATION

HOW THEY DO IT? Through...

QLITAN. Networking events

They host regular networking events that also feature guest speakers for their startup community to discover, collaborate, and bounce ideas off of each other.

BASIQS. Introductory classes

They conduct classes that run through the fundamentals of initiating a startup for those who are new to the scene and are exploring putting up their own venture.

WORQSHOPS. Specialized workshops

They offer in-depth workshops on a range of topics like branding, marketing, and fundraising to shed more light on specialized topics and provide actionable learnings.

FEEDBAQ. Feedback and mentorships sessions

They provide an avenue for startups to receive insight on different aspects of their business through small group sessions with peers and their network of mentors and industry leaders.

SHOWQASE. Investor pitch

They set up sessions where startups get the opportunity to pitch their ideas to top angel investors, venture capitalists, and corporations for a chance to get funded or secure partnerships.

QONSULTATION. Consultation services

They equip startups with expert advice and practical tips through individual consultation services on government-related matters as well as legal, financial, and design concerns with top firms.

QBO HQ. Co-working space

They provide members of their QMMUNITY access to their headquarters to use as a co-working space or a venue to host meetings, workshops, and other startup-related events.

INQBATION. Incubation Program

They offer select startups the opportunity to be considered for INQBATION, a program created in partnership with J.P. Morgan that provides customized mentorship and other resources based on a startup’s specific needs.

Visit www.qbo.com.ph for more information.