With the City Government of Davao’s steadfast thrust to consistent economic growth and development, Davao City is now 4th Best Startup Ecosystem in the Philippines and is first in the region based on The Global Startup Index in 2024.
Startups are businesses that utilize innovative technology-enabled solutions with the potential of expansions or scalability.
Christian Cambaya, Davao City Investment Promotion Center’s (DCIPC) Investor Assistance Servicing Unit Head, said in an interview that the Global Startup Index 2024 points to the city’s thriving startup economy especially with the launch of the Davao Angel Investors Network.
“Based on the results of the 2024 Global Startup Ecosystem Index, Davao City is becoming a hotspot for innovative startups,” he said.
“Davao City officially launched the Davao Angel Investors Network to encourage investments in homegrown startups,” Cambaya added.
Davao City is considered a startup leader in the software and data industry, financial technology, and educational technology.
Cambaya said the city was able to attain such achievement through various programs and services in collaboration with other agencies like the Department of Science and Technology (DOST), and other private partners.
Technology Business Incubators (TBIs) are also established in higher education institutions like the University of the Philippines Mindanao Technology Business Incubator, Ateneo de Davao University ADDventures, and University of Mindanao UMasenso Hub which aims to provide proper mentoring and training in developing and refining business models.
There are also cash grants available for innovative startups through the DOST Startup Grant Fund Program, NEDA Innovation Fund, and the DICT Startup Grants.
Summits, conferences, and other gatherings for startups like the Mindanao Incubator Summit and Davao Startup Week are held in the city.
Cambaya said that these initiatives did not only put the city among the best startup ecosystems, but is also a testament that the city has an inclusive, innovative, scalable and socially impactful startup community.
“This can address social issues, create new jobs, develop new cutting-edge technologies, encourage entrepreneurship, and stimulate the city’s economic development,” he added.
The City Government of Davao, through the DCIPC, continues to foster a business-friendly environment through its ease of doing business initiatives, programs, and initiatives that help startups in the city to grow and develop. CIO
