The Philippines is a budding ground for startups. According to Startup Genome’s Global Startup Ecosystem Report, Manila is among the top five capitals in the world for startup activations.
The Manila startup scene’s appeal to entrepreneurs stems from the country’s competitive English-speaking labor pool and supportive government policies that give tax breaks and ease startup registration.
Having begun as a start-up over 25 years ago, Globis University, Japan’s No. 1 MBA school, shares insights on how to increase one’s chances of startup success:
Get international exposure
Having a community of valuable and resourceful people is important in broadening one’s perspective, honing critical thinking skills and understanding the business landscape. One way to achieve this is to immerse oneself in an international setting, and for those who want to venture into startups, Japan is one of the top choices.
Emerging at the top of the 2019 Best Countries for Entrepreneurship, Japan’s well-developed infrastructure, innovative environment, and technological expertise make the country a good place to train oneself in the art of business.
Located at the heart of Tokyo, Globis University immerses aspiring entrepreneurs from different parts of the world in an environment where they can learn best practices and innovative solutions that they can integrate in their own ventures.
Strive for diversity
Mckinsey’s Delivering Through Diversity 2017 report showed that companies that are gender diverse are likely to profit 21 percent more than those that are not, while companies that are culturally and ethnically diverse were 33 percent more likely to provide better business results than those that are homogenous.
Additionally, a more culturally diverse workplace tends to retain and attract top talent as inclusivity empowers professionals and encourages honing of skills and expertise.
Globis University cites diversity as one of its important features that helped its graduates become successful. With its wide and diverse network of professionals from over 50 countries, the student body has an almost equal ratio of men and women, creating a supportive and empowering environment that encourages critical thinking and creativity—important factors that drive business productivity.
Expand your network
Especially for startups that need mentorship and guidance, a good solid network is a goldmine of insights and resources as well as investors, customers and supporters. To cultivate these relationships, it is important to maximize networking opportunities like startup mixers and industry-related conferences and seminars.
Apart from the school’s established Online MBA that connects industry experts in the Globis faculty and students from all over the world, Globis University also organizes the Globis Venture Challenge and the G-Startup initiatives which not only help students jumpstart their business but also allow them to meet and work with globally-minded individuals that could help them in their careers.
While the Philippines is in a good position to build a strong ecosystem where startups could thrive, aspiring entrepreneurs can maximize the landscape by developing a mindset that can help them think globally, creatively and meaningfully.
“With today’s fast-changing and competitive environment, starting a business is a challenging endeavour,” Globis president and founder Yoshito Hori said. “Entrepreneurs now must have the capacity to cultivate knowledge and expertise, establish a wide and comprehensive network of professionals, as well as put their passion and mission at the core of their venture to become successful.”