August 6, 2020

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The Philippines’ Bid at Hackathon World Record to Boost Start-up Ecosystem

Impact Hackathon
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The Department of Trade and Industry (DTI) Secretary Ramon Lopez strongly supports the official bid of the Philippines for the Guinness World Record’s largest hackathon in a single venue category.

According to a recent press release, the Department’s support for the Impact Hackathon is in line with the Philippine Government’s thrust to make the Philippines as one of the leading countries in creating start-ups.

Moreover, the Secretary highlighted the role of the youth sector in developing start-up communities as well as their contribution in creating solutions to address societal issues.

Technology’s Role in the Country’s Entrepreneurship Ecosystem

The Philippine Government wants to build an entrepreneurship ecosystem that will push for innovation through more internet platforms as well as more business models that are new.

He reiterated that the Filipino youth has a unique advantage in this area. The Philippines has creative and very innovative youth, who know how to keep up with the changing technology and use it in finding solutions to problems in society.

Participants of the on-the-spot coding marathon, which lasted for 24 hours, were asked to come up with technology-based solutions anchored on the Sustainable Development Goals (SDGs).

They focused on the following themes:

  1. Climate change
  2. Education
  3. Agriculture
  4. Smart cities
  5. Health

The Department is optimistic that more than the attempt to have the world’s largest hackathon, the participants will be able to develop something that will be useful to the country and for many Filipinos.

At the same time, the event will be opening up more opportunities for start-up developers.

The Philippine Government Supports Start-ups

Landmark legislations, which will further support the growth and development of start-ups in the country, were mentioned. These are:

  1. Republic Act 11293 or the Philippine Innovation Act
  2. Republic Act 11337 or the Innovative Startup Act, which features a Startup Venture Fund and will be setting up Startup Ecozones

OpenGov Asia earlier reported on the Twin Innovation bills to benefit Philippine start-ups and MSMEs.

The Philippine Innovation Act and Innovative Startup Act aim to improve ease of doing business for MSMEs and start-ups.

Innovation is the key to sustainable and inclusive growth in the country.

The Philippine Innovation Act seeks to provide MSMEs greater access to finance, market and technology.

The Innovative Startup Act, meanwhile, aims to provide start-ups with benefits and incentives.

The Philippine Government is committed to supporting start-up communities. Technology and innovation will serve as inclusive tools to promote income and job opportunities for many Filipinos.

With so many problems in the Philippines and in the region, entrepreneurship, through technology and innovation, has an opportunity to rise.

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