GS1 Philippines kicks off landmark shift from barcode to QR code to bolster local retail industry’s digital transformation

GS1 Philippines kicks off landmark shift from barcode to QR code to bolster local retail industry’s digital transformation

Tuesday, March 26, 2024

In an era where consumers demand instant, transparent information about their purchases, the supply chain industry is undergoing a transformative shift. The 2023 Global Shopper Study by Zebra Technologies revealed that 77% of retail associates confirm that today's shoppers are more informed than ever, highlighting a well-connected, discerning consumer base.

In light of these evolving consumer expectations, businesses are revamping their products and supply chains to offer greater transparency, resilience, and sustainability. The study further reveals that approximately 7% of companies are incorporating or planning to incorporate business intelligence and analytics into their supply chain management strategies.

Responding to these industry challenges, GS1 Philippines, the leading organization on local barcode standards, has announced the start of the adoption of the 2D barcode in the Philippines aimed at further enhancing operational efficiency in the supply chain industry and bridging better product engagement between businesses and consumers with the advent of digital labeling.

The 2D barcode, most popularly known as “QR code,” leverages web technologies and the current barcode system to store extensive product information in just one scan. Through the QR codes, brand owners and retailers can easily interact with consumers and shoppers by providing in-depth information on their physical products. By scanning the QR code with a smartphone, buyers can instantly see ingredients, allergens, recipes, rewards, and promotions, as well as brand-authorized details about where the item was manufactured, facts about sustainable sourcing, guidance on recycling, easy ways to re-order, and other kinds of information.

The QR code also allows retailers and supermarkets to ensure product safety, guarantee product freshness, and reduce food waste. Additionally, it enables regulators to check a product's sustainable characteristics. 

Moreover, the migration to 2D barcodes improves operational efficiency in the supply chain industries. In addition to holding GS1's global trade item number found in the traditional 1D barcodes, the QR codes can now store essential information, such as a product's batch or lot number, serial number, and expiry date. With access to crucial data, all stakeholders in the supply chain can boost transparency, improve inventory management, enable traceability and sustainability initiatives, and simplify recall and return processes.

"In the face of rapid technological advancements, it's critical that we adapt to empower the supply chain industry further. The introduction of QR code technology serves as Pandora's box, opening infinite possibilities for brands and retailers to make their operations more efficient and improve customer engagement. GS1 Philippines members pave the way in this groundbreaking transition to more efficient and robust supply chain operations," GS1 Philippines President Roberto "Bobby" Claudio said. 

The announcement aligns with the global commemoration of GS1 Global's 50th anniversary of the barcode's invention, celebrating a legacy of innovation in business solutions through web technologies and GS1 Standards.

GS1 Philippines is eyeing to prepare industries for the shift to the 2D barcode by 2027. By then, all retail POS scanners globally are capable of reading and processing 2D barcodes powered by GS1 and there is broad, global brand owner implementation of the same.

Currently serving more than 5,000 retailers, GS1 Philippines targets to reach 30,000 businesses nationwide by the end of 2024.

To explore the infinite possibilities of one scan with GS1’s 2D barcode technology, you may visit https://www.gs1ph.org/ or their Facebook page.

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The changing face of insurance: How tailored microinsurance products are key to relevance and adoption in the Philippines

The changing face of insurance: How tailored microinsurance products are key to relevance and adoption in the Philippines

For most people, understanding insurance boils down to the four most common types: life, health, auto, and long-term disability. While awareness of insurance importance is increasing, the aforementioned traditional insurance products are failing to resonate with many people due to various reasons including affordability, accessibility, and relevance. These factors have largely contributed to the low insurance penetration in the Philippines, which stands at 1.68% as of September 2023. 

This is where microinsurance is changing the game as insurtechs and insurance companies have introduced personalized microinsurance products that cater directly to the unique lifestyles and needs of Filipinos as they go through various stages of their lives. As an insurtech, Igloo and its partners have been instrumental in facilitating a wide array of microinsurance products that safeguard the unique needs of digital natives and underserved sectors. These products run the gamut from travel insurance, to electronics protection, e-commerce purchase protection, and even protection for the gamers’ health.

“While traditional insurance products may come with high premiums and broad coverage, microinsurance products are designed to provide targeted protection against specific risks that are relevant to our daily lives. By offering affordable products that address immediate needs, microinsurance can serve as the gateway to broader insurance protection and may be key to boosting insurance penetration,” said Roberto Vea, Commercial Lead at Igloo Philippines. 

Among the most popular insurance products Igloo PH and its partners facilitated are Gadget Protection and Online Shopping Protection. In 2023, Gadget Protection sold 10.3 million policies while Online Shopping Protection sold 1.98 million policies highlighting strong customer demand for coverage against electronic device damages and online purchase risks.

“Microinsurance empowers individuals to protect themselves against risks they face today, whether it's safeguarding their electronics from liquid damage or ensuring affordable coverage for spontaneous travel adventures. At Igloo, we believe it’s important for insurers and insurtechs like ourselves to continuously develop relevant products and make sense for our customers,” Mario added.

As of September 2023, microinsurance premiums in the Philippines have increased by 19.6% to P10.16 billion, and over 56 million Filipinos are now insured under microinsurance policies. 

“The growth of the microinsurance industry underscores how the approach to insurance awareness is no longer one size fits all–it must evolve alongside our digital-first lifestyles, safeguarding our ever-expanding virtual assets and providing peace of mind in the face of modern risks,” Vea explained. “This also means ensuring that the products are where our consumers are–online, thus making sure that the entire buyer’s journey from consideration, to purchase, and claims must be easy, accessible, and uncomplicated.”

According to a recent study conducted by Manulife, 41% of Gen Z individuals (aged 18-24 years old, according to McKinsey) plan to purchase insurance online in the next 12 months. Furthermore, the study found that 33% of millennials (aged 25-44 years old) have already bought insurance online. This indicates that younger generations are increasingly preferring and adopting online channels for purchasing insurance.

This is where the availability of embedded insurance was able to expand the channels of distribution, providing consumers with a convenient way to discover, evaluate, and purchase products in just a few clicks. Igloo does this through partnerships with major e-commerce platforms like Lazada and Shopee, leading payment platforms such as DANA in Indonesia and GCash in the Philippines, and retail chains like Circle K in Vietnam.

“As Igloo continues to play a vital role in making microinsurance accessible to millions of Filipinos, we remain committed to prioritizing products that not only raise insurance awareness and adoption but are also relevant, innovative, and customer-centric,” Vea ended.

Learn more about how Igloo’s tailored microinsurance solutions by visiting iglooinsure.com.

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Zed launches first credit card created for Filipino young professionals

Zed launches first credit card created for Filipino young professionals

Sunday, March 24, 2024

Tailored for the Gen Z lifestyle, the new credit card offers no annual, interest, or foreign transaction fees

In the Philippines, despite the financial industry’s recent attempts at digitalization, customers still face significant hurdles when it comes to accessing credit products. A recent study by TransUnion Philippines showed that 94% of Filipino Gen Zs see the importance of credit and lending products to reach their financial goals. Still, only 35% report having sufficient access to such products. 

“If you talk to any Filipino, there’s still significant frustration with the complexity, lack of transparency, and bureaucracy embedded in financial services. Only 8% of Filipinos own a credit card, largely because it is incredibly difficult to get one if you don’t already have one,” said Danielle Cojuangco Abraham, Zed co-founder. 

Complicated application processes, tedious documentation, and arbitrary underwriting methods are among the challenges that disproportionately impact young people when applying for their first credit card accounts. Those lucky to get approved face astronomical APRs, punitive fees, and a broken customer experience. These observations led to the creation of Zed, the first credit card for young Filipino professionals.

“We founded Zed on the belief that young people in the Philippines and Southeast Asia deserve better financial products, better technology, and ultimately better service tailored to their lifestyles and exceeding their expectations,” Danielle added.

Created by two Stanford engineers and Y-Combinator alumni, Zed is a credit-led neobank regulated by the Bangko Sentral ng Pilipinas (BSP). Its first offering is a Mastercard Titanium credit card that boasts no interest, no foreign transaction fees, no annual fees and is backed by a groundbreaking app – all of which makes it the ideal credit card for everyday spending, travel, utilities, and everything in between.

“As a technology company from day one, we don’t have to pay for costly overhead like physical branches or bloated headcounts for manual, back office processes. We’re able to pass these savings on to customers in the form of no revolving interest, no fees, and excellent customer service. We started Zed on the premise that you could build financial services where a customer’s success was a core value,” said Steve Abraham, Zed co-founder. 

“Our proprietary technology platform allows us to remove the pain in traditional banking, deliver powerful first-to-market features, and provide a fair and transparent cost structure where both Zed and the customer could win,” he added.

This sentiment and Zed's mission resonated with many Filipinos. The waitlist received almost 25,000 sign-ups within the first three weeks.

“Our business model is simple and purposely built to succeed only if our customers do. Our revenue comes from the interchange fee, a standard fee that gets charged to merchants by all banks for transactions that flow over the Mastercard network,” Steve explained.

First-in-market features tailored to the Gen Z lifestyle

Beyond no interest and no fees, the Zed card is backed by a robust and secure app that ensures that customers always have full and instant control of their expenses by giving them a real-time view of their transactions, the ability to set spending limits and access to fraud controls like the ability to lock/freeze a compromised card in the app.

Zed also puts a premium on user privacy and security by offering unlimited virtual cards: Users can generate unique credit card numbers to use with merchants so they never have to worry about their primary card details being exposed. Zed also provides zero liability for all unauthorized transactions and protects customers from paying for charges made without their permission.

In addition to these features, customers enjoy an effortless payment experience facilitated through the app, where they can generate an InstaPay QR code to instantly settle their monthly bill from any bank app or e-wallet, ensuring stress-free on-time payments. 

The streamlined application process also allows customers to complete the entire card application within minutes through the app, eliminating the need for cumbersome documentation or in-person visits to bank branches. 

Zed determines smart credit limits based on current and future income, rather than outdated credit scores, traditional career profiling, or existing card limits. This approach caters to young professionals with high incomes but limited credit histories.

“At Zed, we’re reimagining what a credit card could be – smarter underwriting, groundbreaking features, no fees, and a revenue model that doesn’t rely on a customer’s failure to pay down their balance,” said Danielle.

Learn more about Zed and hop on the waitlist by visiting zed.co.

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The New Architects of Tech: Three Female Leaders Creating a More Inclusive Industry

The New Architects of Tech: Three Female Leaders Creating a More Inclusive Industry

In an era of rapid technological advancement, women are challenging the status quo, redefining innovation, and promoting inclusivity in the industry. Their contributions, from research and development to leadership, demonstrate that women are essential drivers of technological progress and diversity.

According to a Boston Consulting Group study, only 35% of the tech workforce in the Philippines comprises women, despite having the highest number of women technology graduates in the Southeast Asia region (48%). The disparity of opportunity and gender-based discrimination in the workforce is still prevalent despite years of advancing the rights and welfare of women in a male-dominated sector—or perhaps in society. 

Amidst the challenges, these three leading ladies are helping forge a path for future female innovators to make their mark in the technology landscape.

Progression Towards a Digital Philippines

Emmy Lou Versoza-Delfin, Director IV for ICT Industry Development Bureau at the Department of Information and Communications Technology, brings a fresh perspective on the role of government in accelerating the country's digital transformation. With 25 years of forwarding the local ICT industry, Delfin is at the forefront of initiatives to ensure that technology serves as a catalyst for empowerment and equal opportunity for all Filipinos, especially women in the tech sector. Some of these initiatives include promoting diversity in leadership, creating safe and inclusive workplaces, offering training and skill development programs, and opportunities for networking and community-building.

"As a woman leader supporting the tech industry, my motivation stems from the belief that diversity in leadership drives innovation and inclusivity in the digitalization process. The DICT and the local tech industry are actively taking steps to create a more inclusive environment for women. Overall, these efforts contribute to creating a more inclusive and supportive environment where women can thrive and contribute meaningfully to the advancement of technology and innovation," Delfin emphasized.

“Remember, you have the power to shape the future of technology and make a positive impact in the world. Keep pushing forward with determination, resilience, and confidence,” she added.

Leading in Innovation: The Path Forward

This evolving narrative of female leadership in technology serves as a bridge to similar progressions in adjacent sectors, illustrating that the momentum of change can happen anywhere. We witness a parallel beacon of female leadership in Rosemarie Ong, Senior Executive Vice President and Chief Operating Officer of Wilcon Depot Inc. Under Ong's stewardship, Wilcon Depot Inc. has embarked on an ambitious digital transformation journey, setting new standards in the retail and construction supply industry.

Recognizing the critical importance of keeping pace with technological trends, Ong has spearheaded initiatives such as the VR Store Experience and the development of MyWilconApp, which have revolutionized customers' interactions with Wilcon's vast product offerings. Ong's vision extends beyond enhancing customer experience; it's about creating a ripple effect of empowerment and inclusivity. "By investing in women, we foster an inclusive society—transforming the landscape of business competitiveness and productivity," she asserts.

An Inclusive and Thriving Workplace for Women

Historically dominated by male leadership, the tech sector is witnessing a remarkable shift towards gender inclusivity and diversity, thanks to visionaries like Atty. Aileen Regio, co-coordinator of Eastern Communications. With a steadfast belief in the power of innovation and the vital role of women in tech, Regio has been at the forefront of Eastern Communications' transformation. 

Her leadership during the challenging pandemic has not only steered the company towards embracing ICT solutions but has also showcased the indispensability of female leadership in driving technological advancement and organizational change. “Time has truly changed for the better. I want to encourage more women to take the lead and showcase their talents and capabilities,” she highlighted. 

At Eastern, Atty. Regio commits to be a transformative force not just in breaking barriers for women tech innovators, but also in spearheading innovation and adapting to the evolving digital era, “I firmly believed that embracing innovation was best for the company and would benefit our people.” Her seven years of visionary leadership have not only advanced Eastern Communications' position in the telecommunications industry but have also exemplified a broader movement towards inclusivity and progress.

Looking towards the future, Regio envisions a tech industry where women are not just well-represented but are steering the path toward innovation. "I dream that women in tech will thrive, driving innovation and leading change," she stated. With initiatives focused on diversity and gender equality, such as the full implementation of the Anti-Sexual Harassment Act and Safe Spaces Act in the workplace and equal capacity-building opportunities, Eastern Communications is committed to making this vision a reality, paving the way for a more inclusive and equitable tech landscape.

The technology industry is changing. Despite the challenges, there's a growing recognition of the need for gender equality and the invaluable contributions women bring to the tech scene. From leadership roles to groundbreaking innovations, women are proving indispensable in pushing the boundaries of what's possible in tech.

The message is clear: the future of technology is not just digital—it is unequivocally inclusive. As we navigate the complexities and competitive tech scene, women will thrive and leave their mark in the world. 

To learn more about Eastern Communications’ women-led programs and services, contact 5300-7000 or visit www.eastern.com.ph.

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Genteel Home ushers in a new era of Filipino furnishings, unveils Heart Evangelista as newest brand ambassador

Genteel Home ushers in a new era of Filipino furnishings, unveils Heart Evangelista as newest brand ambassador

Friday, March 22, 2024

Genteel Home, one of the country’s leading manufacturers of bespoke furniture, is on a mission to help uplift the Philippines’ home furnishing industry and put the spotlight on the exceptional talent and ingenuity of Filipino craftsmen. To pave the way, they've partnered with Heart Evangelista, the country’s top international fashion and style icon.

On March 14, Genteel Home's Founder and Principal Designer, IDr. Katrina Blanca de Leon, proudly announced Heart Evangelista as the brand's newest ambassador. She sees Heart Evangelista as a symbol of their brand's growth and evolution. "We've been crafting beautiful furniture for over a decade, and now, with Heart on board, we're blooming like never before," Katrina said. She added that Heart Evangelista embodies everything Genteel Home stands for – passion, pride in Filipino roots, and a belief in making a mark on the world.

Looking ahead, Genteel Home is set on expanding its reach to international markets, showcasing the Philippines' rich talent in home furnishings. Heart Evangelista’s global recognition, not only for her fashion sense but also her social media influence, makes her an ideal representative for the Genteel Home's global aspirations. "Heart's involvement with Genteel Home signifies our readiness to make our mark on the international stage," Katrina emphasized.

Heart Evangelista, known for her global acclaim in the world of fashion and beauty, affirmed and expressed her admiration for the international quality of Genteel Home pieces, “Genteel Home is super at par with international furniture. Not a lot of people talk about it, that's why it’s so nice that Kat and Genteel Home are here to show the world what we’ve got. Most furniture suppliers that you see in the global scene are actually from the Philippines. We are world class. It’s important that we’re trying to celebrate that,” she said.

Genteel Home's journey began in 2013, when Katrina received a special commission that ignited her passion for furniture design. Since then, the brand has been dedicated to crafting pieces that inspire beauty and creativity in every home.

Beyond aesthetics, Genteel Home is committed to sustainability and community engagement. By investing in a Mahogany farm, they're not only ensuring a steady supply of materials but also contributing to environmental preservation and providing livelihood opportunities for local communities.

For Genteel Home, every piece of furniture is crafted with love and purpose. Their collaboration with Heart Evangelista represents a shared commitment to excellence, sustainability, and Filipino craftsmanship, setting the stage for an exciting future ahead.

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Celebrating digital champions in the 3rd Digital Financial Inclusion Awards

Celebrating digital champions in the 3rd Digital Financial Inclusion Awards

Thursday, March 21, 2024

As digitalization in the business sector remains a major strategy for growth and financial inclusion in the Philippines, the Digital Financial Inclusion Awards (DFIA) returns on its third year to recognize the achievements in digital transformation of the country’s most outstanding microfinance institutions (MFIs) and microentrepreneurs. The financial inclusion awards program is made possible by Citi Foundation, in partnership with the Microfinance Council of the Philippines, Inc. (MCPI) and supported by the Bangko ng Sentral ng Pilipinas (BSP).

More than just honoring the excellent efforts of MFIs to adopt digital transformation, the DFIA also aims to highlight efforts on expanding digital financial services to poor households by incorporating digital solutions in the products or services offered. It includes customer-centric solutions, business and technology agility, and product and service innovation, while inspiring other microentrepreneurs and MFIs to embark on their own digitalization journey leading to business growth and livelihood opportunities for many Filipinos.

The program launch was led by BSP Governor Eli M. Remolona Jr., MCPI Chairperson Gilbert Maramba, Citi Philippines CEO Paul Favila, together with the first DFIA Digital Champion on Microentrepreneur Category, Ms. Phoebe Borce.

BSP Governor Remolona said, “Digitalization serves as a bridge that connects the financially underserved segments of the population to providers of formal financial services. It does so in a manner that allows greater efficiency of financial transactions that fuel and accelerate economic growth. Let us therefore build more digital bridges so that everyone may enjoy the benefits of financial inclusion.” 

MFI winners will be chosen based on the types of adopted digital solutions, measurable outcomes on digital solutions, and institutional/client benefits of digitalization. Meanwhile, microentrepreneurs will be nominated by the MFIs based on success stories, types of digital solutions used, and measurable results on digital solutions. The National Selection Committee is composed of representatives from the government, business sector, media, and academia, and is co-chaired by heads of the BSP and Citi Philippines. Four MFIs and fifteen microentrepreneur winners will be selected as digital champions for the third DFIA. 

The program includes learning exchanges and technical assistance for MFIs as part of MCPI’s awareness and readiness campaign. An awarding ceremony will be held to recognize the winners on November 8, 2024.

The winners will be awarded cash incentives (PHP100,000 for each winner) and provided laptops that can be used to enhance their digital financial services program.

“Citi Foundation invests in efforts that increase financial inclusion, economic opportunities for the youth, and develop community solutions because it leads to economic empowerment and opportunities for low-income communities and individuals around the world. With the DFIA, we are able to support the nation’s pursuit of financial inclusion through digitalization. We hope that this will serve as inspiration for the microfinance industry and MSME sector to continue innovating their services for Filipinos and help transform the country into a more financially inclusive and resilient society,” said Citi Philippines CEO Paul Favila.

“The impact of digitalization is seen everywhere around the world. This transformation not only allowed MFIs to help clients thrive, especially during crucial times, but most importantly, it has helped the institution in bringing more transformative change to businesses and help them succeed in today’s challenging business world,” said MCPI Chairperson Gilbert Maramba.

Aligned with the central bank’s push to promote financial inclusion nationwide, the DFIA program is an evolution of the Citi Microentrepreneurship Awards that enables Citi Foundation and MCPI to continue raising awareness about the importance of microentrepreneurship and microfinance in supporting digitalization and economic empowerment of low-income individuals.

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How local chocolate producer Kakaw Galleon made business sweeter with help from PLDT and Smart

How local chocolate producer Kakaw Galleon made business sweeter with help from PLDT and Smart

The famous line from the 1994 hit movie Forrest Gump, “Life is like a box of chocolates. You never know what you're gonna get” has been true so far for Isagani de Ocampo, owner and chocolatier of Kakaw Galleon.

De Ocampo began his career as a seafarer in 2009 and was trained as a Pastry Chef aboard cruise ships. This was followed by a chance to train under the esteemed Jean-Philippe Maury’s chocolate shop, honing Isagani’s skills under the guidance of masters.

But fate had different plans for the chocolatier. When the pandemic hit in 2020, Isagani belonged to the first batch of repatriated overseas Filipino workers. It was also this time when he started creating his own chocolate formula, dreaming of launching his own chocolate line in the Philippines. 

“It was hard at first because our taste for chocolate is quite different. Filipinos prefer the “stateside” chocolate. So, I thought of making a local version of chocolate that tastes like it’s imported,” he shared. “I wanted to bring the technology and the taste that I learned from abroad closer to chocolate lovers here,” he added.

But starting the business in a pandemic was not easy. For one, he had to rent a separate place for his chocolate factory – which was not possible during the lockdown. De Ocampo had to put his business on hold for a year before he was able to launch his first product in November of 2021.

“It became a hit, and the Department of Trade and Industry (DTI) heard about it. They approached me and offered me help. I held my first bazaar with them in January of the next year and I introduced my product as a local ‘imported’ chocolate. And the rest is history,” he recalled.

To scale his business even further, Isagani saw the value of upskilling and learning how to employ digital tools to boost micro, small, and medium enterprises (MSME) like Kakaw Galleon. When the invitation to attend the eBizNovation program under the livelihood advocacy of PLDT and Smart Communications, Inc. (Smart) came, he did not hesitate to join.

“I’m a non-tech savvy person. Technology and I don’t get along. But I saw the invite to the eBizNovation workshop of DTI and PLDT and Smart, so I attended the event. Then, when I returned home, I told my wife about it, and she volunteered to implement it,” de Ocampo said.

The eBizNovation program is a digital upskilling-to-ecommerce program that aims to provide local entrepreneurs, cooperatives, and MSMEs like Kakaw Galleon the right digital tools to help them grow their businesses online.

Together with government partners such as the DTI, LGUs, local chambers of commerce, and ecommerce platforms like TikTok Shop, eBizNovation trains local business owners like Isagani how to maximize digital commerce to boost their livelihood.

“The skills and knowledge we gained from PLDT and Smart’s eBizNovation training have helped us build our digital platforms and online payment system, and ultimately helped boost our online presence and sales. We are thankful for this opportunity,” the chocolatier shared.

PLDT and Smart are committed to uplifting the lives of Filipinos through livelihood and entrepreneurship opportunities made possible by technology. These initiatives also support the UN SDGs #1 No Poverty and #8 Decent Work and Economic Growth.

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Startup visionaries and a new ED take the stage at the IdeaSpace Accelerator Program Cohort 11 Demo Day

Startup visionaries and a new ED take the stage at the IdeaSpace Accelerator Program Cohort 11 Demo Day

IdeaSpace presents Cohort 11 Demo Day, where visionary techpreneurs showcased their groundbreaking ventures.

Celebrating the spirit of innovation and entrepreneurship, IdeaSpace, a startup enabler supported by the MVP or PLDT and Metro Pacific group of companies, recently hosted a demo day for Cohort 11 of the IdeaSpace Accelerator Program.

Showcasing six startups, the event provided a platform for visionary techpreneurs to pitch their ventures and showcase their journey towards reaching their growth targets and milestones throughout the program to investors, partners, and key ecosystem stakeholders. They were introduced to the community by IdeaSpace’s new Executive Director Jay Fajardo, one of the pioneers of the Philippine startup ecosystem.

The six groundbreaking startups that pitched at the IdeaSpace Accelerator Program Cohort 11 Demo Day are:

Hey Roomie - a community engagement app propelling how people can connect and monetize their interests and passions online.

ITOOH Homestyle - a digital platform that aggregates the finest local furniture and art.

kazam - a platform that aims to directly connect kasambahays and homeowners, presenting safer and smarter online interactions.

Kintab - a mobile car care platform designed to cater to car owners with packed schedules.

Kippap Learning Corporation - an education tech startup focused on empowering students and regulated professionals to prepare for board exams.

Molinos de la Especia - a consumer packaged goods provider aiming to bring premium spices globally.

Each startup brought something unique to the table, demonstrating their significant growth, market traction, and bold visions for the future with innovative technologies and robust business models. 

Throughout the 5-month IdeaSpace Accelerator Program, the startups had the opportunity to gain valuable insights into best practices for business operations, fundraising, marketing, and sales. They were guided by seasoned mentors with prominent roles in the local and global startup ecosystem, enriching their knowledge and capacities for success.

“Our latest cohort demonstrates the spirit of innovation and creativity that define the Philippine startup landscape. Through our Accelerator Program, we've not only provided them with the tools and guidance to thrive but also built a community where fresh ideas flourish. I am confident that these visionary entrepreneurs will continue to make waves, driving our nation towards a future brimming with opportunity and prosperity," said Butch Meily, President of IdeaSpace.

Following the theme “Prope11ing Filipino Startups”, the IdeaSpace Accelerator Program continues to serve as an avenue for high-growth potential startups to reach the next step in their ventures. Committed to nurturing the next generation of Filipino entrepreneurs, IdeaSpace enables them to create positive change in society through innovative ideas.

Jay Fajardo, IdeaSpace’s new Executive Director, also brings a fresh perspective and strategic vision to the forefront of the organization. Fajardo's leadership heralds an exciting new chapter for the accelerator program, allowing a booming landscape where Filipino entrepreneurs can thrive.

“Cohort 11 represents an emerging breed of robust startups focused on practical fundamentals and sound unit economics. The founders have placed great emphasis on generating sustainable revenues and maintaining profitability while delivering tech-enabled innovation. This trend is particularly common with resilient startups during economic downturns in the past and is typical of the winners when economic cycles resume their upward trend. We’re glad to have played a role in strengthening Cohort 11’s best practices, business models, and value proposition—increasing their chances for success,” shared Jay Fajardo, IdeaSpace’s new Executive Director.

To know more about the IdeaSpace Accelerator Program Cohort 11 startup participants, view the online magazine here. Don’t miss your chance to join the ranks of innovators and changemakers—stay tuned for updates on the launch of Cohort 12, happening soon.

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BDO Foundation Delivers Swift Relief to Over 8,000 Families Affected by Davao Flooding

BDO Foundation Delivers Swift Relief to Over 8,000 Families Affected by Davao Flooding

Tuesday, March 19, 2024

In the wake of the recent massive flooding in Davao, BDO Foundation, the corporate social responsibility arm of BDO Unibank, immediately sprang into action to support affected communities. With a strong commitment to humanitarian efforts, the foundation launched rapid relief operations that brought vital assistance to flood victims across the region.

Demonstrating the spirit of Bayanihan, volunteers from BDO Network Bank branches in Davao teamed up with local parishes to distribute relief goods to 8,600 families across seven flood-hit municipalities. Their joint efforts ensured that families staying in evacuation centers received much-needed aid during this critical time.

Each relief pack distributed by the BDO Foundation contained essential items such as food, rice, and clean drinking water, helping displaced families meet their basic needs and recover from the immediate aftermath of the disaster.

Beyond emergency response, BDO Foundation is committed to long-term recovery and rehabilitation. The organization actively supports rebuilding projects and resilience programs aimed at empowering communities and helping them better withstand future natural disasters.

This initiative reflects the foundation’s ongoing mission to uplift lives and build more resilient Filipino communities—especially in times of crisis.

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PLDT, Smart, ATRIEV hold digital training for persons with disabilities in Cebu

PLDT, Smart, ATRIEV hold digital training for persons with disabilities in Cebu

Monday, March 18, 2024

PLDT Inc. and its wireless unit Smart Communications, Inc. (Smart) conducted an eight-day Digital Business Basics Training (DBBT) for persons with disabilities in Mandaue City, Cebu. The training was done in collaboration with non-profit organization ATRIEV, Voice Philippines, and the Mandaue City Persons with Disability Affairs Office (PDAO).

Under their Inclusion, Diversity, Equity, Advocacy through Technology (IDEATe) program, PLDT and Smart partnered with ATRIEV, or Adaptive Technology for Rehabilitation Integration and Empowerment of the Visually Impaired, to expand the reach of this digital training across the country and upskill more entrepreneurs with disabilities, enabling them to participate in and benefit from the digital economy.

“In a world full of judgment, it may be challenging for persons with disabilities to establish their own businesses, but I salute our DBBT graduates’ willingness to learn and improve their livelihood. Through IDEATe, PLDT and Smart ensure to support persons with disabilities in navigating through the world of business enabled by technology,” said Lailane H. Go, Senior Manager, Regional Customer Development at Smart.

Helen Ortega, a tuberculosis survivor, expressed her gratitude for being part of this initiative. “As someone who is unfamiliar with online selling and digital tools, this training undoubtedly equipped me with skills to improve my small business. This is a great opportunity for us, and I thank ATRIEV and its partners for making this happen,” she said.

A total of 27 participants, who included individuals with physical and psychosocial impairments, learned about various digital tools and applications that they can use in growing their businesses online. Additionally, the training also covered e-commerce platforms, social media marketing, content creation, internet safety, and an introduction to the Maya Business App, helping them fully embrace digitalization in their businesses.

“LGU Mandaue City values the welfare of its people, especially those from vulnerable groups. We thank our partners for helping us reach our goal of capacitating persons with disabilities in our city and helping them become productive individuals,” said Dr. Michael Allan O. Pielago, Mandaue City PDAO Head.

This initiative under PLDT Group’s pioneering inclusion program, IDEATe, aligns with its commitment to helping the country achieve UNSDG No. 8: Decent Work and Economic Growth and UNSDG No. 10: Reduced Inequalities by empowering and promoting the social, economic and political inclusion of all, including persons with disabilities. IDEATe was a finalist at the 2024 Global Mobile (GLOMO) Awards, the connectivity industry’s most prestigious accolade, judged by the telco sector’s most prominent experts.

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