PRIVATE-PUBLIC startup platform QBO Innovation Hub wants to build a community of angel investors to help foster growth for the Philippines’ startup industry.
The company closed last year’s initiatives with its AQTIVATE angel investing short course and summit, in partnership with the United States Embassy in the Philippines and IdeaSpace Investments.
“We believe unlocking private capital plays a key role in fueling growth within the startup landscape in the Philippines,” Katrina Rausa Chan, executive director at QBO Innovation Hub, said in a statement on Wednesday.
“We’re committed to cultivating the next generation of local angel investors, and in doing so, significantly increasing the volume of investments and opportunities for early-stage ventures in the years ahead,” she added, noting they aim to develop 1,000 angel investors through the program.
Pauline Anderson, US Embassy deputy director for public engagement, said their initiatives with QBO “promote inclusive economic growth” and “establish a globally competitive and innovative industry and services sector.”
Securing capital continues to be a challenge among entrepreneurs, QBO said, which is a gap that angel investors can bridge. A collaborative and knowledgeable network of people who share insights and strategies could help them tap these investors, it added.
“Not only do angel investors seize the opportunity to yield profit, but also significantly influence the trajectory of promising startups,” Ms. Chan said.
In an interview with BusinessWorld during the Philippine Startup Week 2023, she said strengthening business education, funding mechanisms, mentoring programs, and international exposure opportunities are the keys to boosting the local startup industry. — M.H.L. Antivola
