Venture capital fund Gobi-Core Philippine Fund emphasized the need for increased government funding and tax incentives to propel the Philippine startup ecosystem. During the Philippine Startup Week 2024, they highlighted laws supporting startups but stressed improved implementation. Recommendations included grants for research, a Fund of Funds to attract private investors, and a specialized startup tax program. The Philippines can learn from neighboring countries like Singapore, Malaysia, and Vietnam, which provide robust support for startups. Additional measures include streamlining business registration and promoting innovation beyond Manila.
PHILIPPINE STARTUPS URGED TO BOOST FUNDING AND TAX SUPPORT
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