Cebu in the Philippines is looking to give local tech startups and entrepreneurs a boost, with a new council to help them grow.
The Innovation Council of Cebu set up last month will be the “bigger voice” of smaller firms in the ICT industry in the city, the Cebu Daily News reported.
The council will focus on developing local business process outsourcing firms, freelancers, animators, tech startups and digital entrepreneurs, according to the report.
The council aims to create a conducive ecosystem for homegrown companies to grow, protecting them from large multinationals. “Those at the base of the pyramid are what the ICC wants to help,” Michael Cubos, the council’s president, said last week.
Cebu is a hub for tech and business process outsourcing in the Philippines. The sector brought in over $25 billion in revenue last year, and employs 250,000 people in Cebu alone. It has been dominated by large multinational players, with no support for smaller local companies: “These are the ones that don’t even last for one year,” Cubos said.
The council, which was set up by the Cebu Chamber of Commerce and Industry, will help these startups get access to the market and develop partnerships with global clients and venture capitalists. 76-80% of the council’s members are SMEs.