Leader in diversity and inclusion

SCB has received numerous accolades in recent years for its policies in promoting diversity and inclusion.听 It ranked 36^th in the 2022 Equileap Top 100 organizations for gender equality globally; 7^th in the top 10 financial sector companies; recognized on the Bloomberg Gender Equality Index 2022 for the seventh year in a row; and ranked 73^rd in the Refinitiv D&I Index Score 2022 for the second time in a row.听

For years, SCB has embedded diversity and inclusion into its organizational DNA, celebrated female role models and allies to reaffirm its commitment to gender equality.

In 2018, SCB signed a statement of support for the UN Women Empowerment Principles to reinforce its ongoing commitment to gender equality.听 The bank also signed the UK HM Treasury Women in Finance Charter and has seen a positive trend in female representation in its senior leadership roles.听 As of end of 2022, women represented 32% of Standard Chartered Bank鈥檚 senior leadership roles across its markets, and working to achieve its global target of 35% by 2025.

As part of its commitment to fostering an equitable and inclusive culture, the bank continuously looks at how progressive, purpose-led benefits can improve employees鈥� experience and help them achieve their potential.

SCB offers industry-leading policies and benefits. It is the only bank which offers its employees minimum 20-week paid maternity and parental leaves, irrespective of gender, relationship status or how a child comes to permanently join an employee鈥檚 family.听听 This is part of the bank鈥檚 commitment to address globally prevalent societal norms around traditional roles, improve workforce participation, and provide options to those who want to take up shared childcare responsibilities.

Even before the pandemic, SCB already has a flexible workplace policy in place.听 The bank has implemented a permanent hybrid working model giving its employees the opportunity to work flexibly without sacrificing client service delivery and commitments. This data-led approach to work combines remote and office-based working with greater flexibility in working patterns and locations with the objective to redesign jobs, enable its workforce and prepare for the way forward.

SCB鈥檚 policy on flexible working practice and enhanced employee benefits is aligned with its aspiration to be a human organisation and a great place to work.听 Following the global roll-out of the policy, every employee across all its markets now has the opportunity to balance their professional and personal responsibilities.

Rowena Kapunan, Interim Chief Executive Officer, Standard Chartered Bank Philippines, said: 鈥淎n inclusive environment enables us to bring the best out of our people. We are proud to take a holistic approach in empowering our staff to succeed at work and in their private lives through our enhanced policies, and are confident that an environment that genuinely respects professional and personal balance is a remarkable competitive edge.鈥�

Gender inclusive Philippines

In the World Economic Forum (WEF) 2023 Global Gender Gap Report released in June, Philippines ranked 16^th place in gender equality among 146 countries in the world, based on 4 categories: economic participation and opportunity, educational attainment, health and survival, and political empowerment.

SCB Philippines has 59:41 women to men gender ratio, and women hold 73% of the bank鈥檚 senior management positions.

SCB Philippines was recognized as the 2021 UN Women WEP Award Champion for Leadership Commitment, and in 2022 won 1^st Runner Up in the Gender Inclusive Workplace category.

The bank believes that an inclusive culture is central to enabling its unique diversity and driving performance. It values and celebrates diversity across its markets and ensures that all employees are entitled to be treated fairly, equally and with respect.听听 By focusing on employee wellbeing, Standard Chartered strives to be a differentiated workplace and best place to work.

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鈥淭hrough the shipping platform, SMEs who are banking on the strong growth of e-commerce, especially this coming holiday season, will be able to tap Locad鈥檚 wide third-party logistics integrations,鈥� said the company in a statement.听听

Constantin听Robertz, Locad鈥檚 co-founder and chief executive officer, recently told ANC that the estimated sales coming from 12.12 this year is P15 billion in total, reflecting the exponential growth of the Philippine e-commerce industry in the pandemic.听听

鈥淚 think Philippine e-commerce has seen a tremendous growth spurt, with industry estimates at $12 billion or P600 billion for total [in] 2021,鈥� he told ANC. 鈥�12.12, as well as 11.11, are big drivers of that where we see up to 10x growth versus normal day.鈥�听

After a successful beta run with Kumu and听Havaianas听this year,听Locad鈥檚听modular service is piloting in the Philippines, with indefinite plans of expanding听to the rest of Asia Pacific.听听

This听iteration aggregates trusted third-party logistics providers (3PL) such as听NinjaVan, J&T Express, DHL,听Entrego, XDE, LBC, and听Lalamove, among others.听听听

The platform also enables direct-to-consumer (D2C) e-commerce brands to access various delivery options, from same-day delivery to affordable day-definite shipping. This should ease the challenge of 鈥渕anaging multiple platforms,鈥� according to Locad.听听

Citing the 2021 e-Conomy听SEA report by Bain & Company, Google, and Temasek, Locad听pointed out that 95% of consumers will continue to use at least one digital service even after the pandemic, with 7 out of 10 rating delivery as the most important factor in online shopping.听听

The holidays are expected to 鈥渄rive the rising demand in 3PL services, which further supports the need for efficient shipping management.鈥� 鈥斕�B. H. Lacsamana听

鈥淚f you are听a strong believer of a brand, the same region of the brain is activated as if you are a strong believer in faith,鈥� said Mr. Lindstrom in a听recent听webinar organized by Adobe Commerce, a digital commerce platform.听听听

Next to trust and evangelism, are the 鈥渆ssential鈥� (a clear purpose, storytelling, and symbols); the 鈥渘ecessary鈥� (a sense of belonging, sensory appeal, and authenticity); and the 鈥渄esirable鈥� (rituals and grandeur).听听

听found that religious experience was associated with brain activation in areas commonly associated with reward: the nucleus听accumbens, frontal attentional, and ventromedial prefrontal cortical loci.听听

鈥淥ur craving spot is the nucleus听accumbens,鈥� Mr. Lindstrom said. A study his company conducted on smokers, he added, found that this part of the brain lit up whenever a smoker thought of the cigarette brand Marlboro or any of its related images.听听

, an indoor ski resort in the United Arab Emirates, is as an example of a brand whose ads are driven by a sense of purpose. Lindstrom Company found that it was a dream of Dubai residents to create a snow angel, hence the marketing tag, 鈥淪nowflakes that make every day ordinary.鈥澨�听

Sensory appeal likewise plays a role in how people buy. Most don鈥檛 like the taste of their first beer, Mr. Lindstrom said, but the desire to be an adult is so high that people continue to imbibe the beverage until they end up developing a taste for it.听听

听鈥� 鈥淭ell me and I forget, teach me and I may remember, involve me and I learn.鈥� 鈥� Mr. Lindstrom advised involving people in order to create rosy memories associated with a brand.听听

鈥淎 sense of belonging is almost like a religion, which is based on storytelling,鈥� he said, while warning against the use of 鈥渉ard core鈥� religious symbols in branding since people have differing opinions about faith. 鈥斕�Patricia B. Mirasol听

The partnership provides coaching and business support services to small and medium enterprises (SMEs) and investor-seeking startups from the Philippines.听听听

鈥淭he Filipino community is the third-largest expatriate community in the UAE and is an important demographic,鈥� said Lorenzo听Jooris, Creative Zone chief executive officer, to听大象传媒.听听听

鈥淔ilipinos in the UAE have a thriving business community, with a diverse range of businesses, including food and beverage, fashion, and various types of professional services,鈥� he said. 鈥淎ligning with this is Dubai鈥檚 vibrant consumer base that constitutes tech-savvy, high-income, and young professionals.鈥澨�听

Mr.听Jooris听cited the Philippines鈥� young and English-speaking workforce, its strategic location in the Southeast Asian market, and its strong industrial sector as among the factors for the company鈥檚 decision to extend its services to the country.听听

鈥淭he Philippines has introduced various incentives to create an investor-friendly climate and attract foreign business ventures,鈥� he added. 鈥淭he creation of Special Economic Zones (SEZs), tax benefits, and entrepreneur-friendly commercial laws make it relatively easy for foreign companies to set up in the Philippines鈥澨�听

In a press statement, Rene 鈥淩J鈥� A. Ledesma, Jr., founding partner of Enter PH, said that his firm鈥檚 partnership with Creative Zone encourages the spirit of entrepreneurship.听听

鈥淒ubai has always been听close听to my heart, and educating my fellow entrepreneurs on the overlying opportunities and business potential that can be leveraged whilst within the country is a novel approach,鈥� Mr. Ledesma said.听听听

The economy of the UAE, of which Dubai is a part, is听rebounding faster听than expected, according to a chief economist for Oxford Economics Middle East in Dubai. The economy has been open for months, and is buoyed by a well-equipped health system as well as a population that is about 90% fully vaccinated.听Bloomberg听reported in September that听Dubai鈥檚 job market was at its strongest in two years.听听

The UAE鈥檚 latest foreign direct investment laws,听, allow foreign investors and entrepreneurs full ownership of onshore companies. 鈥斕�Patricia B. Mirasol听听

This听approach听does away with the challenges presented by direct exportation,听said听John Paolo R. Rivera, associate director of the Asian Institute of Management鈥檚 Dr. Andrew L. Tan Center for Tourism,听who presented the findings of the听听he co-authored with Brian C. Gozun, former Dean of the Ramon V. del Rosario College of Business at De La Salle University,听at a听听organized by the Philippine Institute of Development Studies and the Philippine APEC Study Center Network.听

Titled 鈥淣avigating the New Normal: Restarting and Rebuilding Global MSMEs,鈥� the virtual event听mapped a post-pandemic path for听MSMEs.听鈥淚 prefer to call it a better normal because we can鈥檛 call it a new normal, particularly for business models rendered obsolete by the pandemic,鈥� said Mr. Rivera.听

鈥淚f direct exporting is too gargantuan for MSMEs, indirect exporting, outsourcing, or subcontracting can be an alternative where entrepreneurs provide inputs in the form of raw materials and work-in-progress to other larger domestic businesses who have exporting capabilities and who have access to the global value chain,鈥澨齬ecommended听the听听co-authored by Mr. Rivera.听

At the symposium, he added that it is听important for entrepreneurs听to go digital to normalize peer-to-peer connections, and to take advantage of government-sponsored capacity-building and mentoring programs.听

“Capacity-building and mentoring programs should touch on both hard and soft skills, as well as micro- and macro- perspectives,鈥� said Mr. Rivera. Micro-perspectives听include crowdfunding, total quality management, and risk management, whereas macro-perspectives referred to familiarity and proficiency in regulatory and economic policies.听

鈥淭hese will allow MSMEs to proficiently and confidently participate in a globalized business environment, not only because risks have been mitigated, but also because they are well-equipped to strengthen their value chain,鈥� he听said. 鈥淢SMEs are ready, but they need assistance.鈥�听

The 2019 List of Establishments of the Philippine Statistics Authority recorded听. Of these, 995,745 (99.5%) are MSMEs.听The top five industry sectors according to the number of MSMEs that year were: wholesale and retail trade; repair of motor vehicles and motorcycles; accommodation and food service activities; manufacturing; other service activities; and financial and insurance activities. A majority of MSMEs can be found in the National Capital Region (NCR), followed by听Region听4-A (CALABARZON), and Region 3 (Central Luzon).听鈥斕�Patricia B. Mirasol

,听,听,听, and听were selected from a pool of enterprises that were part of听听by听makesense, a social entrepreneurship community;听and听The Incubation Network (TIN), a connected network of innovators, investors, organizations, and government leaders across South and Southeast Asia.听

鈥淲hile all the innovations and business models in the pool were promising, these five enterprises were selected because the entrepreneurs behind them expressed their commitment to solve the problem, embark on this learning journey, and move their enterprises forward,鈥� said Love Gregorie M. Perez, director of听xchange, an active investor in early-stage impact enterprises in the Philippines.听

AtoANI听BioPack听is working on听packaging alternatives听made from agricultural waste, Salin PH is working on finding a refilling model that is scalable, while AUDEO,听Cloop, and听Nanolabs听are taking plastic waste and using them in innovative ways to come up with value-added products.听

Plastic pollution threatens communities, marine life, and the Earth鈥檚 ecosystems. An听听estimated that about 2.15 million tons of plastics are generated annually in the country. The average Filipino generates about 15.43 kilograms of plastic per year. Packaging wastes that are commonly found in wastes streams include packaging for consumer goods, disposable food containers, and multi-layered sachets.听

TINGI听MENTALITY
Until August, the five听enterprises听are undergoing听a program with activities on innovation and systems thinking, marketing, accounting, strategic planning, the circular economy, gender lens investing, and pilot designing.听

鈥淚t鈥檚 been a learning and collaborative process especially during a pandemic. We learned that there are many ways to solve the plastic problem, so clarity is key because it provides direction. Going in the right direction is much more important than scaling because we have to consider social and environmental issues; we have to be more inter-sectional. With a possible ban on single-use plastics, it鈥檚 important to start opening conversations with key stakeholders to ease the transition by collaborating on possible solutions,鈥� said Donna听Formalejo,听cofounder and chief creative officer of听Salin PH.听

Among the mentors are TJ Agulto of AHA! Behavioral Consulting, who will conduct a masterclass on understanding behavioral science and applying these concepts to drive behavior change in individuals and organizations towards听zero waste听and听the circular economy. Another is Marie Torres of Investing in Women, who will conduct a masterclass on understanding the principles of gender, diversity, and inclusivity and how these impact businesses.听

The role of impact entrepreneurs is to ideate, test, and execute innovative market-based solutions, said Czarina Constantino-Panopio, WWF-PH project manager for Plastic Smart Cities and national lead for the No Plastics in Nature Initiative.听听

鈥淲e acknowledge the听tingi听mentality is something that has been instilled in Filipinos due to reasons of buying capacity and current need for the item,鈥� she told听大象传媒听in a separate e-mail interview. 鈥淲e want to come up with ways on how Filipinos can still buy in听tingi听while taking in consideration the environmental impact of these plastics. What we want to emphasize is that sustainability is something that is also economical.鈥�听

Apart from working with impact entrepreneurs, WWF is also working with other stakeholders to address the Philippines鈥櫶齪lastic pollution situation. This includes working with policy makers to advocate for an Extended Producer Responsibility where producers take responsibility for the full life cycle of the plastics they bring into the market.听

鈥淲e believe that we need to work with stakeholders in the entire plastic value chain to stop plastic waste leakage into nature,鈥� added Ms. Panopio.听鈥�听Patricia B. Mirasol听

, a travel and everyday essentials brand, beefed up its digital presence to听keep afloat during听the pandemic.听

鈥淪ocial media has been our ally听鈥�,鈥澨齭aid听Wanderskye听Chief听Executive听Officer听Bianca S.听Larra帽aga. 鈥淲hen听the听pandemic hit, we didn鈥檛 stop our social media efforts and made sure we kept our presence felt despite what鈥檚 happening in the world.鈥澨�听

Digital sales听through the brand鈥檚 website and shopping platforms like Shopee听now make up 40% of听Wanderskye鈥檚听total monthly sales. Prior to the pandemic, that figure was 5%, as听most听sales were made through mall terminals alongside retail shops such as The Travel Club.听

THE RIGHT CHANNELS
Digital marketing听includes leveraging websites, search engines, social media, and e-mail to reach customers.听

鈥淚t is about choosing the right channels for your brand, depending on your target market,鈥� said Vanya P. Tantoco, freelancer and owner of digital agency听.听Where social management听is for brand consistency听(which听helps with platform algorithms), ad placement or management听is听for reaching听more potential customers and yielding听better sales.听

Online consumer behavior has evolved a year into the pandemic, with more Filipinos embracing e-commerce.听An April 2021 by听ShopBack, an Asia Pacific pre-shopping portal, found that听92%听of Filipino shoppers听purchase听from online听marketplaces such as听Amazon,听Lazada, and Shopee and听another 71.3% buy from other online听platforms听鈥�听such as brand websites and social media听鈥�听when they offer听exclusive brand promotions, wider selections, and better discounts.听

This is a jump from the findings of an听April 2020听听that 23% of Filipino Internet users听spent more time听shopping online.听听

KEY INDICATORS听
Numbers and results are important indicators of digital marketing success, said Reiner Cadiz,听chief executive officer听of digital marketing agency听,听.听听

鈥淣o matter how great the product, no matter how great the service of a company, if no one sees听the content the company puts听up, then all that effort听is听wasted,鈥� he听said听in the vernacular.听

The agency鈥檚 sister company,听, has community听of more than 600,000 members听to help newbies听gain the traction needed to garner results online.听The numbers provided by their team, Mr. Cadiz said,听are both guaranteed and organic, translating to real leads and sales.听听

Among the clients in听iAdvertise鈥檚听roster is digital banking solutions provider听, whose听听generated听2.4 million views听with the help of the agency.听

MANAGING EXPECTATIONS
Results don鈥檛 happen overnight, cautioned Ms. Tantoco.听鈥淲hat鈥檚 challenging for us is whenever clients expect immediate results,鈥� she said. 鈥淭hey feel like since digital is fast-paced, they can expect changes in 24 hours when,听in fact,听it鈥檚 more than that.鈥澨�听

Z Digital Studios sets expectations at the onset by having a minimum number of months for every contract, the better to monitor each account鈥檚 growth and set better key performance indicators each month.听鈥淚t鈥檚 really the process of putting your brand into the intricate webspace and finding the right spot for your audience to find you and get results,鈥� said Ms. Tantoco.听听听

Among the clients of Z Digital Studios is听Wanderskye,听which听is solidifying its marketing听strategies听and adding听Google Ads听as a new growth channel. 鈥淲e understand the need to reach our customers digitally to make it easy for them to buy our products without leaving their homes,鈥� Ms.听Larra帽aga听听said. 鈥淭his way, we鈥檒l be able to be听where our customers need us when they need us.鈥�听

鈥淚t was important to our entire team of researchers, scientists, developers, and everyone at OrbitX to join a protective organization like the LOT Network,鈥� said Dexter P. Ba帽o Jr., founder and president of OrbitX, in a press statement. 鈥淎s a new space tech player 鈥� and a pioneering one from the Philippines 鈥� we want to set an example for all future deep tech and space tech players that protecting innovation is paramount to the success of any tech startup.鈥�

A PAE, sometimes called a , is considered by the network to be a patent holder, in combination with its affiliates, that generates more than 50% of its gross revenue from patent assertion.听

Members of the LOT Network agree that if 鈥� and only if 鈥� a patent owned by a member company falls into the hands of a patent troll, then that company grants the other members a license to that patent, which means the patent can no longer be used by trolls to sue the members of the community.听

In a 2016 interview with Intellectual Property Watch, Ken S. Seddon, chief executive officer of the LOT Network, noted that smaller companies have a higher likelihood of being sued by PAEs. 鈥淥ver 50% of companies sued by patent trolls make less than $10 million in revenue,鈥� he said, 鈥渂ecause the PAEs know that smaller companies will often settle, not having the financial and IP (intellectual property)-specific resources in-house to defend themselves.鈥�

FREE FOR STARTUPS
According to the LOT Network, its members still retain the traditional use of their patents: 鈥淔or example, members are still free to sell or transfer their patents, participate in patent pools, license patents for revenue, or assert them. LOT Network is against costly PAE litigation.鈥澨�

OrtbitX, which was endorsed to the LOT Network by the International Trade Council, is filing patents for its new engine designs, together with its injectors and plumbing. 鈥淭hese parts have new measurements and specifications intended to work just for our ,鈥� said Mr. Ba帽o. 鈥淓ven the fuselage, fuel, and oxidizer tanks will be subject to intellectual property.鈥�

鈥淥ur team is now more at ease working on bringing sustainable space exploration to the market with our protections afforded by the LOT agreement,鈥� he added.

It is important to recognize the contributions that innovative companies make 鈥� as well as the importance of patent systems in protecting these innovators 鈥� said Mr. Seddon. Membership at the network is free for startups with less than $25 million in annual revenue.听

听鈥淲e鈥檙e thrilled that OrbitX saw the value in joining our community,鈥� he added. 鈥淭heir membership affords them, their stakeholders, and their clients proof that their innovations, R&D (research and development), and future patents are part of [the protection] offered by our community.鈥�

Lenovo, The Walt Disney Company, Netflix, Inc., Pinterest Inc., and Bayerische Motoren Werke AG (BMW), are among the 1,400 members of the LOT Network. The one other Philippine-based member company is business solutions provider Mustard Seed Systems Corporation, which joined in October 2018. 鈥� Patricia B. Mirasol

鈥淢ost of the tutorial services that transitioned to offer online tutorials have unorganized booking systems and limited payment modes,鈥� said Angela Nicole M. Mercado, chief executive officer of AkadsPH. 鈥淭hey operate mainly on Facebook and Zoom, which could be time-consuming for busy parents who wouldn鈥檛 want to go through multiple platforms just to book a tutor.鈥�

Students are matched to a tutor in the AkadsPH platform based on the details they include in their profile. All eligible tutors are notified afterwards, with the first one to accept getting the booking.听

The platform also has a chat feature, which allows for easy communication among parents, tutors, and students; email and text notifications, to remind parents of upcoming tutorial sessions for their children; a files drive similar to Google Drive, to help a tutor align with the current lessons of the student; and a favorite tutor function, for parents who prefer to book a particular tutor.

Akads Meet, the platform鈥檚 video call component, provides a stable learning experience by adjusting each call鈥檚 video quality based on the tutor and the student鈥檚 Internet connection.

鈥淏eing software scalable, we can easily add helpful features that can make this experience better for both parents and tutor,鈥� said Gabriel Lucas M. Reganit, chief sales officer of Akads.听

AkadsPH, which launched with the help of startup incubator , targets parents of students in grades 1 to 10 who are affected by the closure of tutorial centers due to the pandemic. It has conducted over 180 sessions with 26 students since its launch in January, with most of its clients coming from private schools in Metro Manila. It has also onboarded 84 college-student tutors.听

A rigorous application process is conducted for its tutors, which includes assessments that weigh heavily on mock tutorials, said Ms. Mercado. 鈥淢ost of our tutors are college students who can teach Math, English, Filipino, and Science, which is why we only offer these subjects for now.鈥�

Parents usually book math tutorials for their children, added Mr. Reganit. 鈥淲e ensure that we enrich the student鈥檚 knowledge by giving exercises during and after the session to promote mastery and constant practice,鈥� he said. 鈥淧arents are satisfied because of the improvement of their kid鈥檚 grades.鈥�

TUTORING INDUSTRY
Technavio, a global technology research and advisory company, to grow by $60.03 billion during 2019鈥�2023, progressing at a compound annual growth rate of 12% during the forecast period. Forty-eight percent of this growth will originate from the Asia Pacific region. One of the key drivers for this market will be the importance of STEM (science, technology, engineering, and mathematics) education.

A report released in December 2020 by the International Association for the Evaluation of Educational Achievement (IEA) said that the in an assessment for mathematics and science for Grade 4 students. The Philippines scored 297 in math and 249 in science, according to the IEA鈥檚 Trends in International Mathematics and Science Study (TIMSS) 2019.

鈥淪eeing as students in this generation live in a digital age, schools and tutorials would be able to teach better by adapting technology in their education programs,鈥� said Mr. Reganit. 鈥淲e aim to address these gaps starting with online tutoring. Looking forward, we believe that digitizing education will empower students to help them achieve their academic goals and beyond.鈥澨�

AkadsPH offers a free one-hour trial session. Rates range from P500 for an hour to P6,760 for 15 hours. 鈥� Patricia B. Mirasol

, an on-demand career-coaching platform, connects with suitable mentors. It also acts as a hub for coaches (who may be looking for higher-level coaches themselves) and training companies.听

The startup, short for Social Innovation, aims to capitalize on the Philippines鈥檚 untapped market. Similar coaching platforms abroad include San Francisco鈥檚 , Berlin鈥檚 , and Vancouver鈥檚 .

The , the largest coaching industry research study in history, reported that in 2019, the estimated revenue from coaching was $2.849 billion 鈥� a 21% increase over the 2015 estimate. The numbers of leaders using coaching skills is estimated to have risen by almost half (+46%). , the estimated number of such leaders more than doubled (+124%).听

鈥淐oaching is a saturated market in western countries like Canada, USA, and England, but [the industry] is a very open space in Asia,鈥� said Danille Fritzgerald O. Soria, Sociov鈥檚 chief executive officer. 鈥淚f you were to ask me five years ago, which was the time I received my first coaching session, no one would have ever predicted this kind of growth.鈥�

Sociov automates the client-to-coach matching process and provides information that helps clients decide on the right coach for them, while considering quality, accessibility, and affordability, said Mr. Soria.

Sociov is raising another round of investments this June, with a group of Filipino executives and an Indonesian angel investor indicating their interest. The funds will be used to launch resume and job interview coaching for job seekers and graduating students. The career coaching niche, said Mr. Soria, makes sense because a lot of people lost their jobs in this pandemic.听

Its private beta will launch this July. 鈥淲e are initially targeting graduating students from big universities with 6鈥�15 months left before graduation. We also plan to cater to other private colleges and institutions anytime soon,鈥� he said. 鈥淥ur partner-coaches love to work with fresh graduates and students coming from business, finance, economics, psychology, or communication courses.鈥�

Last year, Sociov raised capital from several angel investors, an Australia-based professor, and a Filipino management consultant.听

There are currently 18 partner coaches earning with Sociov, 94 coaching hours served by these coaches, and 14 clients matched to date through Sociov’s concierge model. There are also 19 learners in its Coaching Academy.

In the web platform, the suggested ceiling price for resume coaching is P500 for a bronze coach, P1,500 for a silver coach, and P4,500 for a gold coach. For job interview coaching, the suggested ceiling price is P800, P1,800, P5,000, and 6,000 for bronze, silver, gold, and platinum coaches, respectively. The startup gets a 20鈥�30% commission for each match. 鈥� Patricia B. Mirasol

, a Singapore-based, tech-enabled coffee chain, announced that it raised $15 million in Series A funding in a round led by White Star Capital, with participation from investors including Delivery Hero-backed DX Ventures, Global Founders Capital, and Conny & Co.听

The Series A round sets the total capital raised to $20 million, and will be used to expand the brand in 10 markets across the Asia Pacific this year, including seven new markets: Hong Kong, Taiwan, South Korea, Japan, Malaysia, the Philippines, and Vietnam.听

The company aims to digitize the offline-dominated coffee industry with a consumer app that has a streamlined pick-up feature, loyalty program, personalized promotions, and interactive challenges. It also has a barista app that improves operational store efficiency and enables performance-based incentives for its baristas.

鈥淔lash Coffee鈥檚 business model has proven successful during the pandemic in all of its markets,鈥� said co-founder and Chief Executive Officer David Jonathan Brunier. 鈥淥ur app鈥檚 pick-up feature together with our focus on grab-and-go locations enable customers to pick up their orders quickly and safely.鈥�

Drinks in the coffee menu are curated by World Latte Art Champion Arnon Thitiprasert, and are also available in custom packaging through delivery platforms like Foodpanda and Grab.

鈥淣ot implementing a tech-first strategy is an antiquated way of doing business,鈥� said Mr. Brunier. 鈥淭his model is better suited for young, lifestyle-savvy middle-class consumers.鈥�

PHILIPPINE COFFEE MARKET
The coffee chain launched in January 2020, and operates 50 locations across Singapore, Thailand, and Indonesia. It plans to open its first 10 branches in the Philippines in the second half of 2021, with the first locations in Metro Manila.听

In an e-mail interview with 大象传媒, Mr. Brunier said that the Philippine coffee chain market鈥檚 appeal is due to the high population density in the country鈥檚 key cities, a rising middle class eager to try new products, and an ever-growing coffee per capita consumption.

鈥淲e see a very large potential for disrupting the Philippines鈥� coffee industry with our high-quality coffee at affordable prices,鈥� he said. 鈥淕iven the fact that mobile usage is especially high in the Philippines, we also foresee our intuitive and convenient consumer app to revolutionize the way Filipinos enjoy their daily caffeine fix.鈥�

Coffee from well-known brands is expensive and hence inaccessible to the Asian middle class, Mr. Brunier said, referencing as an example the average daily income in the Philippines being equivalent to the price of three Starbucks lattes.听

For the majority of industry players, the operational backend (shops, stock management, purchasing, and staffing) is mostly offline, which opens opportunities for digitization and optimized processes.听

鈥淐ustomers are constantly paying high prices for coffee from large outlets with extensive seating in expensive neighborhoods, while the majority of orders are grab-and-go and delivery,鈥� he added. 鈥斕� Patricia B. Mirasol

Judy Ann S. Agoncillo, an actress with more than 1.5 million subscribers, started her channel as an outlet to share what she enjoys doing. has now also paved a way for women to learn new skills that create entrepreneurial opportunities.

鈥淲ith the situation now, what else do you have to lose?,鈥� said Ms. Agoncillo. 鈥淵ou want to evolve and do something and, of course, you also want to earn. You can do this for free. The only limit is your imagination.鈥� She added that the pandemic is a good time to take a risk. 鈥淟ife鈥檚 too short to box yourself. What鈥檚 important is you鈥檙e able to do something for yourself.鈥澨�

, for her part, pivoted from maarte (artsy) to madiskarte (resourceful) content when she realized that a lot of people lost their jobs over the pandemic. The lifestyle-turned-business vlogger, who has 40,000 subscribers, shares scenes from her family鈥檚 poultry farm business, together with tips on how to be more productive.听

Also featured at the same event were Dielian E. Certeza and Juliette B. Piquero, who both turned to YouTube to start their own businesses when the pandemic struck.听

Ms. Certeza had to look for alternative sources of income last year when she lost her part-time job. 鈥淚 was scared that I鈥檇 stop schooling, scared that I鈥檇 be a burden,鈥� she told the audience. Having no prior background in culinary arts, she began to develop her concept for a food business by mining the information found on such channels as , , , , , , , , and .听

the restaurant born from all these efforts, is now able to meet all her family鈥檚 needs. 鈥淚 am proud that I am able to help others though my business,鈥� Ms. Certeza said. 鈥淭rust the process, calm your mind and heart, find what you are passionate about, and trust the Lord.鈥澨�

Ms. Piquero also began conceptualizing her idea of an online business after picking up tips from local channels like , , and , the result of which became .

鈥淚 ventured into other businesses first, such as succulents, but that didn鈥檛 pick up,鈥� she said. 鈥淚t was my fondness for cooking that led me to baking cakes as a hobby, and which eventually turned into a business,鈥� she said, adding that she uses YouTube as a reference for recipes and baking trends. 鈥淸My sales] definitely helps me and my family during these challenging times,鈥� she added.听

Aspiring content creators were advised to start small as well as be authentic and willing to learn.听

鈥淚 don鈥檛 advise you to give advice on something you haven鈥檛 done yet,鈥� Ms. Agoncillo told the audience. 鈥淚t鈥檚 okay to be honest and say, 鈥楲et me try it first, then I鈥檒l share my experience with you,鈥� so you build that relationship [with your subscribers].鈥� 鈥� Patricia B. Mirasol

Founded in May 2019 as a spinoff project from an electronics engineering undergraduate thesis, it consists of an electricity meter installed onto a household circuit panel and an electricity management platform capable of comparing consumption results, generating user-friendly charts, and sending notifications when a user is about to exceed a set electricity budget.听

听A performance report is also sent via e-mail every other week, along with feedback aimed at听 improving energy efficiency.听

鈥淲e believe that real energy efficiency comes from a community of informed smarter consumers,鈥� said Reinelle Jan C. Bugnot, founder and CEO of SmarterMeter Inc.

鈥淲e plan to partner with condominiums, housing developers, or subdivisions to launch multiple SmarterMeter units at scale to produce localized communities of Smarter consumers, which then yields a culture of energy efficiency,鈥� he added.

SmarterMeter won the competition last year, which provided the company enough funding to have it incorporated in the Securities and Exchange Commission in November 2020.

Three- to 12-month subscription plans, starting at P375 per month, are available. A bond fee is collected at the start of subscription as insurance for the device installed in the subscriber鈥檚 home, which will be returned in full upon device retrieval at the end of subscription.听

SmarterMeter participated in QBO Innovation Hub鈥檚 incubation program. Launched in 2020 in partnership with the US Embassy in the Philippines, the program provides financial support in the form of grants, loans, and fundraising opportunities, and mentorship to startups. 鈥� Patricia B. Mirasol

“With the rising demand for cryptocurrency trading and investment, we aim to facilitate P2 billion worth of transaction volume in 2021. To serve more customers, we’re also looking at opening more outlets in malls around the Philippines and partnering with major market players in the remittance and money exchange industry. We target to open 100 outlets by the end of the year,” said Paulo E. Del Puerto, Moneybees chief executive officer, in a statement.听

Its other outlets are Monteal Money Changer in Venice Grand Canal Mall, Psulit Money Changer in Intrepid Plaza, Willyn Villarica Jewelry in Market Market, and Erus Maerd Pawnshop and Money Exchange in Resorts World Manila.听

In an interview with 大象传媒, he added that more institutions will embrace cryptocurrency, bitcoin, and blockchain by adding them as part of their assets or using them as part of their technology stack.

鈥淲e will see some big companies supporting or even issuing out their own cryptocurrencies,鈥� Mr. Del Puerto said. 鈥淭his, in turn, can give the general public more access and more confidence in cryptocurrency, making it more acceptable.鈥�

Founded in 2017, the local company provides the technology to make the exchange between currencies and digital currencies accessible to government-licensed money changers with physical outlets. This technology makes it possible for money changers to accept and facilitate cryptocurrency transactions without the risk of market volatility.

Almost all cryptocurrency users with Binance, Bitmex, and other exchange wallets are supported by the platform. Users can transact as much as P5 million in one day. They can also cash out their trading gains from exchanges that don鈥檛 have peso cashouts like Binance, Bittrex, and Bitstamp.听

The most popular cryptocurrencies in the Philippines are Bitcoin and Ethereum, according to Moneybees, with Bitcoin accounting for the most transactions on its platform.听听

Moneybees is registered with the Banko Sentral ng Pilipinas (BSP) and with the Anti-Money Laundering Council (AMLC) as a remittance agent with Virtual Currency Exchange (VCE) service. 鈥� Patricia B. Mirasol

Launched on March 1, the app offers the convenience of local market selections with affordable fees. The app鈥檚 convenience fee is 8% for cashless transactions and 15% for cash transactions. Its share in delivery fees is 10%.听

鈥淲e created an app that caters to a different client base,鈥� said Mark Ryan T. Penafiel, PalengkeLink programming and accounting officer. 鈥淥ur goal is to serve the other sectors: palengkes and home-based food sellers that have no available platform to sell their products.鈥澨�

The PalengkeLink team visited wet markets and taught vendors how to use the platform. They were soon trying to outdo each other in photographing their items and writing product descriptions. 鈥淭hey are empowered to upload their items themselves on the app,鈥� said Mr. Penafiel.听

There are more than 150 merchants on the app. A five-star rating system weeds out merchants with consistently low ratings (or those with fewer than three stars). The platform has 15 rider partners, with more than 100 others waiting for their applications to be approved. The company said they do not overhire to ensure that all rider partners registered have enough bookings.听

Customers can pay with cash, debit or credit card, or GCash. Only one fee is necessary for transactions, including multi-stall transactions.

PalengkiLink serves Quezon City, Marikina City, and the City of Manila, through stall owners in Farmers Market Cubao, Mega Q Mart, Altura Bagsakan Market, Guadalupe Commercial Complex, Marikina Public Market, Maypajo Public Market, and Choice Market Ortigas.听

It is in talks with areas such as Davao, Cebu, and Tarlac that are interested in the app.

鈥淲e鈥檙e trying to compete with giants in the market but [we will do it] slowly but surely,鈥� Mr. Penafiel said. 鈥淲e鈥檙e Philippine-based and we have low funding.鈥�

PalengkeLink is available on Android phones at the moment. 鈥� Patricia B. Mirasol

Born at the beginning of the community quarantine and patterned after Udemy, an American online course provider, the platform has thus far attracted 21,000 students. A majority of the learners are between the ages of 20 to 40 years old, according to the company, and reflects the Filipino workforce鈥檚 demand to upskill for jobs in the digital space.

Course Belt founder Paolo R. Isyasa started as a one-man team with a one-page website offering a single course. The founder realized the potential of e-learning when the website got 1,000 paying students after a month of pre-selling.听

鈥淲hen I launched Course Belt, I only spent P1,000,鈥� he said. 鈥淚 used it to buy the domain name and run paid ads. I then used all the revenues I got at the beginning to reinvest on the business and allot more budget on marketing to scale the business faster.鈥�

, a multimedia arts school, has since invested and contributed to Course Belt鈥檚 initial fund of P2 million for setting up the business.

鈥淓ight months ago, I was severely burdened to see some of my friends lose their jobs because of the pandemic. So I asked myself, how can I help? That鈥檚 how Course Belt was born,鈥� Mr.听 Isyasa. 鈥淚t鈥檚 a platform for learning new skills at one鈥檚 own pace. Filipinos have the guts and skills. We just need to empower them.鈥澨�

The learning platform has self-paced courses in copywriting, digital marketing, web development, SEO (search engine optimization) writing, Facebook Ads, graphic design, and social media management, among others. The price of each ranges from P199 to P499.

鈥淭wo of our most popular courses are the WordPress and marketing course, which teaches students to develop websites with a marketing touch, and the social media management course, which enables them to manage social media for personal brands or businesses,鈥� Mr. Isyasa said.

鈥淲e currently don鈥檛 have partnerships with other businesses yet since most of the students who complete our courses apply to foreign companies,鈥� he added, 鈥渟o from our end, we make sure they have the skills foreign employers need in their businesses.鈥�

According to the International Labor Organization, the economic recession due to the pandemic has led to 81 million jobs lost in the Asia Pacific region. Meanwhile, the Asian Development Bank听 estimated that at least 2.1 million Filipino workers may have lost their jobs in 2020 due to the pandemic. 鈥� Patricia B. Mirasol

, an artificial intelligence (AI)-powered supply-chain startup, raised $4 million in its seed round and closed an enterprise deal with LBC Express.听

The startup will use its AI technology to automate the booking process between containers and carriers in order to expedite the movement of international goods.听

These developments follow a $2.5 million investment led by Ali Partovi, chief executive of 鈥渃ommunal鈥� venture fund Neo, who has previously backed Airbnb, Dropbox, Facebook, and Uber.听

Expedock is also backed by executives at eBay, Foodpanda, coins.ph, Salesforce, Facebook, LinkedIn, and Instagram. The funding will be used for expansion and for product development to accommodate its growing number of international clients.听

鈥淲e鈥檝e seen firsthand how the errors in the first mile of shipping lead to costly corrections amounting up to $25,000. Freight forwarders have had to manually encode and process significant amounts of paperwork which, with one mistake, could cost a company thousands of dollars to correct,鈥� said co-founder King Alandy C. Dy in a press statement. 鈥淥ur technology comes in to convert any paper-based documents or scans into structured data for their freight systems. Our software provides the infrastructure for their data, thereby eliminating unwanted costs due to manual errors.鈥�

Its system, Expedock Nuance Technology, performs tasks by simulating human intelligence and removing the need for manual data entry and processing via workflow automation. The huge volume of data and documentation needed to move products from Point A to B previously made manual data entry and extraction cumbersome for businesses in the supply chain industry. Expedock鈥檚 technology eliminates the need for data extraction and data entry work, decreases turnaround time by up to ten times, and improves data accuracy.听

Co-founded in 2019 by Filipinos Dy and Jeff Tan, together with AI specialist Rui Aguiar, the company moves thousands of freight containers a week and counts a.hartrodt, Rose Containerline, Premier Services Italia, Andalin, Fremura, CNT and MHM Global among its international clients. 鈥� Patricia B. Mirasol

鈥淚 don鈥檛 think I can speak for Gen Z as a whole, but I personally save and invest so I won鈥檛 be trapped in a 9鈥�5 job in the future,鈥� she said.听

The political science student had little background in personal finance growing up. A dilemma on which course to take in college led her to online resources on ways to earn money and start preparing for the future. In the beginning, she followed the advice she read about buying blue-chip stocks in the market and invested in Jollibee.听

For financial advice, she now consults , , and 大象传媒, as well as personal finance YouTubers like , who became a millionaire by the time he turned 26; , who became a millionaire in one year; , a 28-year-old real estate broker and investor; and , who posts videos on productivity and minimalism aside from personal finance. These YouTubers have a wide audience, with subscribers in the millions.

鈥淔or the most part, I don鈥檛 monitor what happens in the markets on a regular basis. I prefer to keep my investments simple, boring, and mostly automated,鈥� said Ms. Alba, 鈥渟o I can focus my time doing other things, like making videos for my YouTube channel and finding other ways to increase my income.鈥�

Many who belong to her cohort (those born between 1996 and 2010), she added, are 鈥渋nterested in starting their own businesses online to leverage the power of Internet platforms.鈥�

Ms. Alba鈥檚 entrepreneurial bent is representative of that say members of Generation Z want to .

, meanwhile, found that while long-term finances are a top cause of stress, more than half of millennials, and nearly half of Gen Zs, are saving money and could cope if they unexpectedly received a large bill. The said survey also found that family, financial future, and job prospects remain the primary sources of stress of both millennials and Gen Zs, with Gen Zs being more concerned about longer-term money issues.

GET-RICH-QUICK?

Among the specific funds Ms. Alba invests in are , a local exchange-traded fund, and , a savings facility with a five-year maturity designed for Home Development Mutual Fund (HDMF, or more popularly known as the Pag-IBIG Fund) members.听

鈥淏efore I decide what to invest in or what action to take, I always identify my goal first. Since I鈥檓 mostly investing for the long-term (10鈥�15+ years), I鈥檓 able to be more aggressive in my investments and take on more risk when it comes to investing,鈥� said Ms. Alba.听

Her YouTube subscribers who are around her age, she noted, are interested in investing and trading because they are seen as viable paths 鈥渢o get rich.鈥� Those who are new to personal finance are vulnerable to scams. 鈥淧eople comment on my videos and ask if [this or that business] is legit or not. I see that as a problem,鈥� she said.

A self-learner, Ms. Alba turns to finance education websites like Investopedia, which tells you that if an advisor guarantees returns higher than 12鈥�15%, it is likely a scam. She also warned against chain referral schemes and Ponzi schemes. 鈥淎t the end of the day, it鈥檚 also a business, so ask: how do they generate revenue? How do they give back money to their investors?,鈥� said Ms. Alba.

Customers can book immediate or scheduled parcel delivery, and can pay a priority fee if no rider accepts their booking. Up to 20 drop-off locations can be placed for a single booking, with a route optimization feature created for such multiple drop-offs.听

Each merchant partner, meanwhile, can expect a weekly analytics report as well as a dedicated account manager to cater to their business needs and concerns. Available too is package insurance with guidelines on possible scenarios like product damage, rider cancellations, and mishandling.

Partner riders similarly have the benefit of advanced analytics plus job cards containing details such as earnings and parcel details to improve their personal delivery business. Riders are not required to sign exclusivity agreements, and are supported through onboarding and training.

鈥淩iders are their own bosses. Everyone is accountable for their own time,鈥� said Kimberly Siy, Amigo鈥檚 co-founder and managing director.听

To ensure privacy, riders are required to encode a one-time password (OTP) at each pick-up and drop-off location. A number masking feature will additionally be rolled out in the coming months to hide contact numbers from app users.

鈥淚 don鈥檛 think it鈥檚 bad timing to launch at the tail end of the pandemic,鈥� said founder and president Matthew Siy Cha, replying to a question regarding the app鈥檚 unveiling. 鈥淭he pandemic sped up the projection the Philippines is headed towards. What sets us apart is that Amigo recognizes every delivery should be [a happy experience] for all stakeholders, and not just for customers. We want to live up to our name and really be an amigo.鈥�

The app will initially be available in Metro Manila, Rizal, and some parts of Cavite. 鈥� Patricia B. Mirasol

(OrbitX), the country鈥檚 first commercial space venture, is targeting 2023鈥�2024 for its first launch. Its rocket, the Haribon SLS-1, will be propelled by two of the company鈥檚 other innovations: the Tamaraw Rocket Engine and RP-2 fuel, a renewable rocket fuel derived from plastics.听

Haribon SLS-1 is in , or the level in which components are validated in a laboratory environment, and can carry approximately 200 kilograms in low earth orbit (an orbit with altitude ranging from 200鈥�300 kilometers to 1,600 kilometers).

SPACE ACCESS BENEFITS LIFE ON EARTH

Sustaining earth and accessing space are two of the problems OrbitX tackles. Founded in 2019, the venture aims to be a major provider of affordable, green, and sustainable space access to developing countries while taking care of the environment. Its founder and chief executive officer, Dexter Ba帽o Jr., said that the benefits of outer space ventures are here on terra firma.听

鈥淭he real benefit of having access to space is all on earth. Having access to space would allow us to attain better telecommunications, defense technologies, geopositioning services, and meteorological technologies,鈥� he said in an interview with 大象传媒. 鈥淔or example, cancer research and farming could be improved if we have access to space. We can also protect our security as a nation because of better defense infrastructures that are only possible in space.鈥�

Space science can help by allowing researchers to study cell behavior that鈥檚 normally masked by responses to gravity. The gravity experienced in low-earth orbit, for instance, is 10,000 to one million times less powerful than that felt on earth鈥檚 surface. In microgravity, cells can be studied

Other applications of space technology include: earth observation satellites that monitor greenhouse gases and possible natural calamities such as typhoons; global positioning system (GPS) navigation tools that allow for better mobility and prompt response during search and rescue missions; and microwaves and solar panels that started out as part of space projects but are now part of everyday living.

SEEKING SUPPORT AND COLLABORATION听

Funders of the deep-tech startup鈥檚 project include several private individuals and Genix Ventures, a firm focused on investing and accelerating early-stage technology companies in Southeast Asia. Amazon Web Services has also given it a product grant for research worth $6,500 for two years of use.听

is underway too for those who want to pitch in their support; the general public can choose among packages that include incentives such as a space ticket and an exclusive Haribon SLS-1 launch day seat.

While seeking support, OrbitX discovered that most of the interest came from Indians across Europe and Asia. One such supporter, Abhishek Raju, himself a space industry professional, paved the way for connecting the company with the Indian Space Research Organization. Mr. Ba帽o Jr. said he will be meeting the Indian ambassador to the Philippines soon to discuss a possible diplomatic collaboration between the Philippines and India.听

鈥淚ndia is the most logical ally because, like the Philippines, they started at a very minimal budget to establish an extremely reliable space agency,鈥� he added. 鈥淲e have similarities in our socio-economic status as countries. We also have a knowledge economy like India, but we are not yet utilizing it properly.鈥�

OrbitX sends the Philippine Space Agency regular updates on its project developments, although it is not affiliated with鈥攏or has it received any funding from鈥攖he said agency.

鈥淲e launched this franchising option to open opportunities for aspiring entrepreneurs who are looking for a business model that is proven to work even during a crisis. For the brand, this is the biggest change we will be doing,鈥� said Ferdinand Obuyes, senior sales area manager of Leslie Corporation.听

The company surpassed last year鈥檚 sales as of September 2020. Network revenues have also grown by 57% as compared to 2019, with a 20% increase in sales across all stores from June to September.听

BBQ Bob鈥檚 franchise system is buttressed by the over 35-year franchising experience of its sister brand, Minute Burger, which has more than 700 stores in the Philippines. Like Minute Burger, BBQ Bob鈥檚 return on investment is estimated to be 18 to 24 months.听

There are six BBQ Bob stores as of the fourth quarter of this year.

Navigating the various lockdown restrictions was the greatest challenge BBQ Bob had to overcome this year. The brand was able to overcome these by leveraging Minute Burger鈥檚 experience, committing to the safety of both crew and customers, and focusing on food quality.听

鈥淲e have found a way to consistently serve ulam (viands) and barbecues that are always soft and juicy, with a very short preparation time at the store so our customers are sure it鈥檚 freshly prepared shortly before they order,鈥� said Mr. Obuyes

BBQ Bob accepts contactless payments by being an active merchant on FoodPanda, GrabFood, and LalaFood, as well as MenuGo for customers in Cavite.听

FRANCHISE DETAILS

A BBQ Bob franchise needs an initial investment of around P115,000. It includes franchise fees for two stores, initial payments for site processing, and application and documentation processing. The term is for four years and is renewable on a per-store basis. Franchisees can expect to shell out a royalty fee and advertising and marketing fees; BBQ Bob does not take a percentage of sales.

Stores are entirely on a take-out format sans dine-in space. The approximate cost of store construction, based on standard design, is pegged at P14,000 per square meter. Support for growth, operations, and expansion is provided to franchisees through a sales team. The company said the model works when a franchisee is able to oversee more stores.听

Based on their experience with Minute Burger, Mr. Obuyes said that franchisees should aim for three stores.

鈥淲e monitor the news and development about the pandemic almost daily,鈥� said Mr. Obuyes. 鈥淲e feel that 鈥榩ost-pandemic鈥� is still quite a way to go, although we hope it will truly end very soon. While we hope for the best, we are also planning for every worst-case scenario to make sure we are ready for whatever lies ahead of us in 2021 and beyond.鈥� 鈥� Patricia B. Mirasol

, a San Francisco-based healthtech company innovating on early cancer detection, was co-founded by Filipino , who previously founded digital media platform Jukin Media and blockchain payment system Veem.听

InterVenn recently raised US$34 million in Series B funding, led by Anzu Partners and participated in by Genoa Ventures, Amplify Partners, True Ventures, Xeraya Capital, and the Ojjeh family (of McLaren Group fame).听听

This funding will go toward commercializing the company鈥檚 minimally invasive blood test for the early detection of ovarian cancer. The test is undergoing analytical and clinical validation through the (V.O.C.A.L.) trial. Initial results show a more than 90% accuracy rate.听

鈥淧eople always call me a serial entrepreneur because I started four companies in the past twenty years. I鈥檓 actually not a serial entrepreneur. I am a serial problem target. Problems keep finding me and I keep getting super frustrated. I just happen to find the best teammates to join me in solving very hard endeavors,鈥� said Mr. Carrascoso.

InterVenn has one mission: to create a world where no one is blindsided by disease.听

鈥淲henever I start a company, it鈥檚 always five to seven years before they become mainstream,鈥� Mr. Carrascoso told 大象传媒.听

His track record bears this out: Jukin, founded in 2009, licensed viral videos before 鈥渋nfluencers鈥� invaded social media. Veem, meanwhile, was an early proponent of the bitcoin blockchain. 鈥淪o I hope we are the first of many companies doing many wonderful things with this new science,鈥� he said, referring to his healthtech venture.

DETECTING CANCER EARLY AND ACCURATELY
There is no minimally invasive test at present that can accurately detect ovarian cancer in its early stages, when it is most curable.听

InterVenn鈥檚 blood test could change that with next-generation glycobiology (or the study of the structure, biosynthesis, and biology of glycans or carbohydrates), instrumentation, and deep machine learning to change the way people diagnose cancer, all with the aim of furthering research towards curing it.

Early detection generally results in a better outlook. , the five-year relative survival rate is 92%鈥攜et only about 15% of ovarian cancers are diagnosed in stage 1.听

Most ovarian cancer cases now are diagnosed at stage 4, where the survival rate is less than 20%. Adding to the difficulty of the early diagnosis is that the disease鈥檚 鈥攂loating and back pain鈥攃ould also indicate a myriad of other health conditions.

The clinical trial for InterVenn鈥檚 ovarian cancer鈥揹etecting blood test, which will be available early next year in the US, is ongoing with participants from the US, Australia, Malaysia, and the Philippines. The clinical validation of the V.O.C.A.L. biopsy is modeled after an early model built on a Caucasian population sample.听

鈥淓veryone thought I was crazy鈥� because we鈥檙e different genetically,鈥� Mr. Carrascoso said. 鈥淲hen we tested the Caucasian-framed algorithm on Filipinos and Malaysians, the performance increased. The conclusion is: we鈥檙e not all that different. We鈥檙e all just the same in the eyes of disease.鈥�

鈥楾HE TINDER OF DRUGS鈥�
Immuno-oncology, or the study and development of treatments that take advantage of the body鈥檚 immune system to fight cancer, is next in the pipeline for InterVenn.听

The biosciences company envisions a world where individuals can be triaged and routed to the right drug, where the right therapy selection tool has the ability to have a nearly 100% predictive value for people who are going to respond to certain drugs.听

鈥淲e want to be the Tinder of drugs,鈥� said Mr. Carrascoso. 鈥淲e can match your phenotype to the right drug and technically direct you to the cure.鈥�

This endeavor is a personal one for Mr. Carrascoso, whose mother died of breast cancer in the 1990s. Another close relative was diagnosed with stage 2 breast cancer in 2016; a cousin died from triple-negative breast cancer from the wrong immunotherapy regimen this year.

鈥淲hen people ask me, what is InterVenn for you? It is not a business,鈥� he said.

When Mr. Carrascoso had a related diagnostic test done at the laboratory of his co-founder and fellow Filipino Carlito Lebrilla, a Distinguished Professor at the University of California, Davis, and a fellow at the听 American Association for the Advancement of Science, Mr. Carrascoso discovered it took 12 months and a roomful of people with PhDs to check one person鈥檚 blood sample.听

With his experience in software and neural networks, Mr. Carrascoso created a technology for InterVenn that marries mass spectrometry, the only tool precise enough to measure the composition and location of post-translational modifications (or the alteration in the amino acid sequence of the protein after its synthesis), with artificial intelligence powered by large, human-curated datasets.听听

鈥淟iterally, this is a blue-sky opportunity,鈥� said Mr. Carrascoso of the AI that of mass spectrometry from 12 months to 12 minutes鈥攁 10,000% increase in throughput.听

With this technology, a blood test will be able to tell patients鈥攅arly and accurately鈥攊f they will develop a certain type of cancer.听

SAVING MILLIONS OF LIVES
The same technology and science used for the ovarian cancer detection test was applied to nearly two other dozen indications鈥攊ncluding renal cancer, liver cancer, pancreatic cancer, nasopharyngeal cancer, thyroid cancer, melanoma鈥攚ith reportedly similarly promising detection results.听

If the test lives up to its expectations, Mr. Carrascoso said that cancer may eventually become 鈥渓ike a headache.鈥� That鈥檚 the dream.

InterVenn has teams in Silicon Valley, California, and Ortigas Center, Pasig, dedicated to its mission of creating a world where no one is blindsided by disease.听

The Ortigas-based group is in charge of information technology-related tasks such as engineering, information security, development and operations, and server system administration.听

鈥淲hen someone tells you they鈥檇 rather work than sleep because they don鈥檛 want to add another moment of misery into another person鈥檚 life and family, you know you鈥檝e got a really good team,鈥� said Mr. Carrascoso听

鈥淚 need this to be successful,鈥� he continued. 鈥淚 couldn鈥檛 help my mom. I wanted to become a doctor. But then someone told me, tumulong ka na lang ng duktor [why not just help doctors]. People need to know what InterVenn is doing because when we become successful, the amount of lives we are going to save will be in the millions of people. I don鈥檛 say that lightly.鈥�

Local startup ecosystem ranks 53rd in the world, up 17 places from three years ago

By Patricia B. Mirasol

The first half of 2020 saw total investments in Philippine startups reach an estimated $183.8 million, a 384% increase from the 2019 year-round estimated value of $37.9 million, according to the Philippine Venture Capital Report released by Foxmont Capital Partners, a venture capital fund.听听

The first half of 2020 raised this record capital with a little over half the number of deals (14) versus the same period last year (24), the report added.

Fintech, information technology (IT) and software, and transport and logistics grabbed the most investment capital, with COVID-19 accelerating growth of the top sector. Fintech has transaction values forecasted to increase by 24% at the end of 2020.

The Philippine startup ecosystem currently ranks at 53^rd in the world鈥�17 positions up from its ranking three years ago. It has more than 400 startups, 50 angel investors, 40 venture capitalists, and 35 incubators and accelerators.听

TOP SECTORS
The fintech sector accounted for over 80% of the total announced invested capital in startups, signaling a听 pivot from traditional financial services toward tech-driven platforms. The report noted the Philippines鈥� strong English language skills and its established outsourcing industries as creating a favorable environment for these startups.

IT and software is the second biggest startup sector, accounting for 8% of total deal value for the same period. Most of the IT and software activities related to telecommunications and business-to-business (B2B) software development as corporate entities opened up to technology that startups built. Transport and logistics comes in third, comprising 3% of the total deal value. Investment activity in this sector is driven by rising e-commerce demands鈥攁 sector with 2% of total deal value.听

E-commerce gross merchandise value (or the total value of merchandise sold over a period of time through a customer-to-customer exchange site) is projected to reach $12 billion by 2025, on track to becoming one of the fastest-growing sectors in Southeast Asia.

Despite the spread of COVID-19 in the Philippines, the report said that the country鈥檚 startup activity matured in a short period of time due to access to more mentors, the entry of new funds and investors, and the rising number of successes.听

CHALLENGES TO A PROMISING FUTURE
This year鈥檚 Philippine Startup Survey revealed that both founders and investors expect a promising future. Ninety-six percent of founders are confident about their prospects for revenue growth over the next two years, with 95% aiming to enter new territories in the next five years.听

Seventy-eight percent of investors, meanwhile, are confident about their prospects for revenue growth over the next two years, with 73% wanting to inject up to $5 million in Philippine startups in the next three years.

鈥淭oday, capital is not only flowing into businesses with the purpose of regional expansion鈥攊t鈥檚 pouring into original ideas and energetic founders,鈥� Franco Varona, managing partner of Foxmont Capital Partners, said in a statement. 鈥淚t鈥檚 an exciting time to be a problem solver in the Philippines.鈥�

To capitalize on future prospects, the country needs to overcome a set of challenges, among them a lack of external funding and a scarcity of initiatives to boost startups in the growth stage toward becoming unicorns (as the majority of support systems such as government legislation and incubators are focused on early-stage efforts).听

Promising startups remain under the radar of offshore capital, the report added. Further challenges include the need to match the technical talent pool of neighboring regions like Singapore, traditional career aspirations hindering entrepreneurship, and the persistence of brain drain.

Only 14% of plastic packaging is recycled, said Nanotronics founder and Chief Executive Officer Jerome Palaganas, who pitched a solution that turns renewable indigenous plants into sustainable nanomaterials called cellulose nanocrystals for use in industrial applications, including three-dimensional (3D) printing resin, lubricant additives, biodegradable packaging, specialty coatings, and water filtration materials.听

Nanotronics has eight intellectual properties, seven business-to-business (B2B) clients with earned revenues, and at least five company pilot projects. A total of US $100,000 in grant funding and US$45,000 in angel investments have been awarded to the tech startup. Its revenue streams come from plant productions, licensing agreements, and client joint venture partnerships.听

鈥淲e are committed to making a significant difference in the environment and community, leveraging on our natural resources here in the Philippines. We see a good synergy with our products and the Shell ecosystem,鈥� Mr. Palaganas said.听

Shell鈥檚 LiveWIRE program launched this September in collaboration with the Philippine government. It provides innovators with opportunities for mentorship, financial assistance, technical expertise, and a chance to be part of Shell鈥檚 supply chain.

Apart from Nanotronics, two other local tech companies were chosen out of 155 candidates to participate in a start-up bootcamp: , which measures air quality to safeguard and enhance people鈥檚 health; and , a digital banking platform aimed for small and medium-sized business owners.

Shell LiveWIRE also tapped three community enterprises to join its program, and each took home a cash grant of Php 75,000. These enterprises are MagzWheel Furniture, which transforms used rubber tires into furniture and apparel; Green Factory by Oro Handmade Innovations Inc., which produces handmade paper products; and Revolve Eco. Logical, which recycles used polyethylene terephthalate (PET) bottles to create new products.

鈥淢ost entrepreneurs still lack the resources to reach their full potential, especially as they adapt to a digital world. We bridge that gap by connecting them with government and fintech institutions as part of our LiveWIRE program. This is our contribution to nation-building,鈥� said Cesar Romero, president and CEO of Pilipinas Shell, in a statement. 鈥� Patricia B. Mirasol

The company plans all purchases upon subscription in its bid to be completely zero-waste, although subscriptions are not necessary to avail of the service. Customers get discounts for returned containers; and reward campaigns further encourage the recycling practice.听

EveGrocer, which is part of the incubation program of innovation hub QBO, was conceived last year by four co-founders. Two have a background in customized packaging and manufacturing of marketing materials. After realizing that plastic packaging was being thrown every day by customers who were not aware of how these contributed to landfill problems, they decided to collaborate with two other co-founders with design expertise, and pivoted to a solution that involved refilling.

The zero-waste approach of EveGrocer is timely given the 鈥減lastic pandemic鈥� due to the global rise in demand for face shields, gloves, protective personal equipment, and takeaway food containers because of the novel coronavirus. In the Philippines, Vietnam, and India, as much as 80% of the recycling industry was not operating during the height of the pandemic. Short-term thinking about excessive plastic waste during the pandemic could lead to , said Jacob Duer, president and CEO of Alliance to End Plastic Waste.

ZERO-WASTE SHOPPING听

The online grocery鈥檚 early adopters were composed of zero-waste advocates, and working moms and dads who were active in supporting the sustainability campaign, said Ma. Leonelle Sandoval, Eve Grocer co-founder and chief executive officer.

When strict lockdowns in early March prompted panic-buying at groceries, EveGrocer launched the Necessity Bundle, which includes 3 kilos of chicken leg quarters, 5 kilos of rice, 100 grams of vegan pasta, and a liter cooking oil or dishwashing liquid. The bundle was delivered to quarantined families, who have since become loyal EveGrocer customers.

The platform will launch its pilot multi-vendor website before the end of 2020, with the grand launch slated on February 14, EveGrocer鈥檚 first year anniversary. Merchants nationwide and in select countries who register will have their own dashboards, as well as access to payment gateways and automated logistics.听

鈥淲e want to encourage brands to shift their packaging to a more sustainable material,鈥� said Ms. Sandoval. 鈥淭he goal is to create a new sustainable supply chain system that is scalable and easy to use.鈥澨� 鈥� Patricia B. Mirasol

鈥淭his new normal means new products, new services, new processes,鈥� said Rowena Cristina Guevara, Undersecretary for Research and Development at the Department of Science and Technology (DOST). 鈥淲ho are the ones who can do it fastest? Startups.鈥� , for example, developed the first local COVID-19 RT-PCR detection kit in 21 days.听

E-commerce is a fertile field for startups, as they can also take on related needs such as transportation, logistics, and fintech. 鈥淭here are additional opportunities with respect to tech solutions like artificial intelligence, robotics, drones, 3D printers, and animation,鈥� said Rafaelita Aldaba, Undersecretary of the Competitiveness and Innovation Group of the Department of Trade and Industry (DTI), at the same event. 鈥淭o survive this pandemic, we need to apply all these new technologies.鈥�

Edtech and entertainment are other avenues in the digital economy that Filipino startups should explore. Among the top 10 rising Google search topics in the Philippines were queries on the Philippine Basketball Association, the Miami Heat basketball team, and the education company Brainly. An October 2020 report by Fitch Ratings further said that Filipinos are expected to spend more in 2021 especially on recreation, and that household spending on recreation and culture is expected to grow by 15.3% next year鈥攖he fastest among all sectors鈥攁fter shrinking by 17.8% this year.

鈥淭hese are strong indicators of changes that are happening in terms of our consumer behavior,鈥� added Ms. Aldaba. 鈥淭hese are signals as to where we can go.鈥�

FUNDING FOR STARTUPS

The government offers several funding facilities to support the startup ecosystem. Representatives from DTI, DOST, and the Department of Information and Communications Technology (DICT) shared the programs they have in place.

• SB Corp., the DTI鈥檚 financing arm, of Php 10,000 for businesses with a minimum asset size of Php 50,000; a Php 20,000 loan for businesses with a Php 100,000 minimum asset; Php 40,000 for those with a minimum asset of Php 200,000; Php 60,000 for those with a minimum asset of Php 300,000; Php 80,000 for those with a minimum asset of Php 400,000; and Php 100,000 for businesses with minimum assets amounting to Php 500,000. Another funding resource startups can tap is the of the DTI.听
• DOST has a Startup Grant Program through the Philippine Council for Industry, Energy and Emerging Technology Research and Development (PCIEERD). Among received funding last year is EduSuite, an artificial intelligence-powered management system that automates campus administration.
• The DICT鈥檚 ICT Industry Development Bureau aims to implement its Innovative and Startups and Acceleration Program in 2021 next year. Its four components are: 1) the creation of an Innovation Network for Filipino innovators and startups; 2) the establishment of Innovation Studios in strategic areas nationwide; 3) the setting up of the DICT Philippine Startup Grant; and 4) the development of the Philippine Startup Portal, which will serve as a repository of all Philippine startup-related information.

鈥淚 am excited to hear proposals and get to know new ventures that would like to take a crack at our startup fund,鈥� said Emmanuel Rey Caintic, Assistant Secretary of the DICT. 鈥淲e鈥檒l make sure we鈥檒l select the right startup to fund. Even if they don鈥檛 qualify, we can tie them up with government projects. Even if we don’t give them money, we can give them opportunities to make money.鈥�

The pandemic has forced more than 1,600 local government units and 300 agencies to go online and digitize their processes, which Mr. Caintic said is a galaxy of opportunities that startups can tap. 鈥淚t may not be as lucrative as building solutions for the private [sector], but this is a sure need. It鈥檚 like a multiplier: times 1,600.鈥澨�

鈥淚 pray you have perseverance and grit to make your enterprises thrive,鈥� he added. 鈥�Panimula pa lang ang and . Kayong mga digital entrepreneurs ang magbabago ng ating lipunan. [The Philippine Innovation Act and the Innovation Startup Act are just the beginning. All you digital entrepreneurs will be a force of change for our nation.]鈥� 鈥� Patricia B. Mirasol

Passive engagement is defined as a consumer鈥檚 consumption of online content, such as reading a post or watching a video. Metrics for this form of engagement include video completion rates, link clicks, and website traffic. Active engagement, on the other hand, is often more popular among marketers, who measure success by the number of a post鈥檚 likes, shares, and comments.听

鈥淸Marketers are] still chasing virality and vanity metrics like retweets, comments, and shares, when the data tells us that the majority of online content is consumed passively,鈥� said Sarah Dawley, content manager at Hootsuite.听

Ms. Dawley cited Hootsuite鈥檚 digital data for, which found that the average Facebook user shared only one post a month and that Twitter鈥檚 unique website traffic was three times larger than its monthly active users鈥攎eaning there are a lot of people who passively consume content on these platforms (sometimes without even signing up).听

To engage this large but silent audience, marketers should explore the lighter side of their brand, said Ms. Dawley, who cited a by Global Web Index which found that finding funny or entertaining content is one of the top reasons people use social media.听

鈥淚鈥檓 not saying you desperately have to be funny鈥� or go against your brand tone or personality鈥� Just remember that creativity, fun, and lightheartedness is what will help your content really break through that wall of indifference that people have towards brands on social media,鈥� she said.

In the United States, for example, Coors鈥� Light to nominate someone who #CouldUseABeer to cope with the 鈥渟ucky, suck, suck, suckiness鈥� of the pandemic. At the end of the social media campaign, they sent 500,000 beers to customers.

鈥淵ou鈥檙e asking people to go out of their way to engage with your brand鈥� You really need to give them a reason to engage with you if you are asking them to do that,鈥� said Ms. Dawley.

is a webinar hosted by Hootsuite on November 19. 鈥� Mariel Alison L. Aguinaldo

Canva for Negosyo has free resources鈥攊ncluding branding video tutorials, informational blogs, and customizable marketing templates鈥攗seful for designing and managing a small online business. Fashion and food images, curated based on the common needs of MSMEs, are available too for those with a limited budget for photography.

Creating an account is not necessary to access these resources.听

鈥淲e want to be the Filipino entrepreneurs鈥� ally and give them a headstart as they take their businesses online,鈥� said Maisie Littaua, head of growth for Canva Philippines. Many micro, small, and medium enterprises (MSMEs) are transitioning their businesses digitally to keep up with the times, but find themselves in an unfamiliar environment where they have little to no experience.听

大象传媒 reported that 鈥渢he Department of Trade and Industry tallied 839,444 business registrations between January and early November, outpacing the 2019 full year by 32%. 鈥� Online business registrations totaled 82,870 from the start of the lockdown in March to Nov. 4. There were only 1,753 registrations for online businesses in January.鈥�

Five toolkits available on the Canva for Negosyo page represent businesses that are among the most popular with entrepreneurs: lutong bahay (home-cooked meals); manufactured skincare products; DIY laundry shops; electronics; and cafes.

鈥淭hese are the types of businesses that can also scale up so there鈥檚 a need for consistent branding to grow their business, so these toolkits are made for that,鈥� said Ms. Littaua.

Canva for Negosyo has where entrepreneurs can interact and collaborate with fellow users. Some of the most common queries asked in the group include those in relation to design improvement plus requests for specific business templates. Canva is open to expanding its collection based on the needs of Filipino business owners.听

Apart from Canva for Negosyo, the design and publishing platform also offers , a creativity and collaboration tool with education-specific content for teachers. A series of webinars acquainting Filipino teachers with the tool led to the creation of . 鈥� Patricia B. Mirasol

Approved nano-sized loans鈥攖ypically between US$1 and US$5 or the market currency equivalent鈥攃an be used 鈥渟ame as cash鈥� within the Venio Marketplace to purchase goods and services such as food, communication, transportation, and medicine from partner merchants.

Included in its retail network are a growing number of Philippine sari-sari stores as well as international retailers such as Grab and McDonald鈥檚.

鈥淲e focus on these small 鈥榥ano鈥� sized loans as it is a unique offering and other players are not offering credit facilities of this size,鈥� said founder and CEO Warren Platt. 鈥淭he fact that Venio is offering loans of these sizes means that we can reach customers no one else is and people that have been excluded by the financial system.鈥澨�

Of the nearly 400 million adults in Southeast Asia, 198 million remain unbanked and do not own a bank account. In the Philippines, the number stands at 44 million, , 52 million people, or nearly 80% of adults, are ineligible for bank loans. Many end up borrowing money from acquaintances or loan sharks to cover unforeseen expenses.听

Venio鈥檚 mobile application is designed to encourage responsible lending and borrowing as well as allow customers to build their own credit history. Loans are available without any upfront collateral provided on the part of the customer. Each transaction is charged with a 15% convenience fee.

A proprietary scoring algorithm takes over 60 data points from the user鈥檚 handset, details on the user鈥檚 profile, and further user application data. According to Venio:

鈥� 鈥淕eolocation data showing the person goes to the same place five days a week for eight hours would suggest they have a job;

鈥� A download in English could suggest higher education and so earnings potential (the app can be accessed in either English or Filipino);

鈥� Educated users are likely to store contacts with capital letters at the start of their names; and

鈥� Customers having a lot of contacts with post-paid phone numbers would suggest they move in a relatively better-off circle.鈥�

鈥淲hen done responsibly, nano-credit can really work for people,鈥� said Mr. Platt, who added that initial repayments and secondary loan repayments continue to be greater than expected.听

Venio, which means 鈥渃ome鈥� in Latin, has expanded its services nationwide across the Philippines on the back of launches across Manila, Cebu, and Davao. It has also launched operations in Mexico on the back of an oversubscribed debut in the Philippines. 鈥� Patricia B. Mirasol

鈥淏ecause of the pandemic, we are perfectly poised to build our world anew,鈥� said incoming Ashoka Philippines country director Abby Mapua-Cabanilla during the virtual induction on Oct. 30.

Founded in 1981, is a non-governmental organization (NGO) that supports and enables more than 3,500 social innovators worldwide.听

Mr. Gervasa, whose dream of becoming a physician was dashed when he couldn鈥檛 get a job after he tested positive for Hepatitis B, created the Davao-based , a virtual school that employs cost-effective social technology to help scholars from socially excluded populations access work in the global digital economy. As a result of the program, 42% of the school鈥檚 350 graduates saw their income increase threefold.

Mr. Abadiano established the in 2006 after spending time with the Manobo tribe in Bukidnon, the Mangyan tribe in Oriental Mindoro, and other indigenous peoples (IP). The first tertiary-level program for IPs, has a curriculum that integrates indigenous knowledge and culture with standard collegiate course material. Pamulaan counts teachers, anthropologists, agriculturists, community facilitators, and youth leaders among its alumni.

Mr. Stiles, meanwhile, co-founded the after seeing the plight of Hong Kong鈥檚 migrant workers during his summer internship there. Unlike exploitative recruitment agencies, the Fair Employment Agency promises transparent pricing and ethical practices. Within four years of launching in 2014, the agency placed over 3,000 Filipino workers without charging them recruitment fees, helping workers avoid almost US$4.5 million in recruitment debt.

To create change, Mr. Stiles advised innovators to develop a well thought-out plan to get funding support. 鈥淓mbrace the power of storytelling,鈥� Mr. Gervasa said. 鈥淭hat was a transformational moment that really helped us shape our narrative and attract mentors who believed in us.鈥� Added Mr. Abadiano: 鈥淭he resources will come. It is the easiest to happen if people see [your] sincerity.鈥� 鈥� Patricia B. Mirasol