LOCAL startup companies now have the opportunity to pitch their products and services for possible collaboration and even crack the Taiwanese and other innovative ecosystems in Southeast Asia soon.
This was made possible through the 2024 TW-PH Tech Summit held recently at Shangri-La, The Fort.
Organized by Startup Island Taiwan in partnership with TechShake Asia and IMMORTA Corp., the event featured several startup companies from Taiwan and local companies that had seen tremendous growth and success in the last few years.
“The Philippines is booming right now. After the pandemic, we can look at some numbers that show that compared to other countries in the region, the Philippines is recovering much faster. So we are focusing on the Philippines to seek more opportunities,” Amanda Liu, Founder and Managing Director, Startup Island Taiwan Brand Management Office, said.
“We always wanted to bring new products overseas and at the same time we want to create partnerships with local companies here. We want to help local entrepreneurs with the technology and success stories from companies not only from Taiwan but from Japan, South Korea, Malaysia and many more,” added Kotaro Adachi, CEO and Founder, TechShake Asia.
The Philippines is a key target for Taiwan-based startups. The country’s tech savvy, educated population and complemented by government and private support has propelled the country’s startup ecosystem to grow rapidly and is expected to become bigger in the coming years. The Philippines is 85th in the Global Innovation Index 2023. While it has only accounted for 2% of the total USD7.72 billion in startup equity funding accumulated in Southeast Asia in 2023, the country’s potentials – with its 117-million population, 51.2-million talent pool, 800,000 annual graduates plus relatively young population – can’t be ignored.
Established in 2019, Startup Island Taiwan is the national brand for Taiwan’s startup ecosystem that was set up by the government. It aims to unite and grow Taiwan’s startup ecosystem across different markets both within and beyond the island. It also strives to serve as a platform for global startups, make possible collaborations with key stakeholders such as VCs, accelerators, incubators, corporations and government agencies which drives technology and innovation for the people.
TechShake Asia, on the other hand, has been in the Philippines for the last eight years helping to establish a startup ecosystem in the country. Its efforts to bring innovative products, technology and services to help improve the lives of Filipinos have been consistent and successful.
Featured startup companies in the Taiwan-Philippines Tech collaboration event include President Information, 91APP, CyCraft, Funnow Group, Gogolook, KDAN, Chelpis Quantum Tech, IsCoolLab, MedFluid and many more. Local companies such as 917 Ventures, BDO, GCash and others.
Currently, there are at least 190,000 Filipinos in Taiwan while there are 90,000 Taiwanese in the Philippines.