NextGen Day

According to an accelerator executive on Tuesday, the startup community in Cebu can present their business plans and work with large corporations to pursue financing and expansion opportunities.

Using the thriving collaboration between the private sector and the Departments of Trade and Industry (DTI), Science and Technology (DOST), and Information and Communications Technology (DICT), Walter Cang, vice president of DOHE Cebu, claimed that investors in Manila are starting to recognize the potential of Cebu startups.

The startup accelerator DOHE, a non-stock, non-profit organization, offers training, mentoring, and network-building services to link the sector with investors, partners, and talent pools.

Cang said that his organization, which makes significant investments in “education technology” (EdTech), also has a $200 million non-equity fund that it may utilize to help start-up businesses.

“The enablers like us are working together with both the public and private sector and find ways to get startups off and running,” Cang said in a press conference at the DTI-Central Visayas office here to promote the Wednesday launch of the Road to Fiestartup 2023.

About 20 Cebuano entrepreneurs will attend the event on Wednesday at the Asmara Urban Resort and Lifestyle Village of Paseo Saturnino in Barangay Banilad, according to DTI-7 regional director Maria Elena Arbon.

Fiestartup is a DTI-backed project with Cebuano roots that seek to foster growth, investment, and expansion opportunities in the Visayas-Mindanao region while bringing attention to Cebu’s startup scene.

The DTI-7 statement claims that the event on Wednesday is a warm-up for the main event, which will take place in November as part of the annual Philippine Startup Week, a significant government program. Around 80 startups from the Central Visayas region, largely from schools, are anticipated to participate.

According to Frederick Amores, regional director for DICT-7, their organization accepts submissions for startup funding, for which they can award amounts ranging from PHP500,000 to PHP1 million.

“We are the startups’ potential customers. The head of the Mandaue Chamber of Commerce and Industry, Kelie Ko, said, “We have a big network of people who could invest in the future.

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