ACADEMIC institutions, public and private organizations, and representatives of local government units in the National Capital Region recently formed a consortium to boost the Philippine startup ecosystem through technology business incubators.

A memorandum of understanding and manifesto of support was signed by the parties during the NCR TBI Summit held last October 4 and 5, 2023.

The manifesto outlined several commitments, including fostering a culture of innovation, knowledge sharing between the stakeholders, granting access to funds and resources for startups, and creating educational programs that encourage entrepreneurship.

The Strategic and Collaborative Alliance for Leveraging the Ecosystem of Startups NCR initiated the undertaking with the Technological Institute of the Philippines.

Members of the consortium also agreed to work together to streamline regulatory processes for startups, develop frameworks for evaluating the impact of their collaboration, explore opportunities for international cooperation, and promote an inclusive and diverse ecosystem.

“By nurturing innovation, sharing knowledge, and providing the necessary resources, we aim to drive economic growth, create jobs, and solve pressing global challenges,” the manifesto read.

The summit gathered ranking officials from higher education institutions that have existing TBIs.

In her keynote address, Department of Science and Technology -NCR Regional Director Romelen Tresvalles said that establishing an enterprise that is technology-based can be challenging but with the TBIs around, “it eases the burden of our technopreneurs to find the path towards entrepreneurial success.”

The Philippines was ranked 59th in the 2023 Global Startup Ecosystem Index of research center StartupBlink.