SlingshotMNL aims to push MSMEs forward
IT WAS A call to action that drew an immediate response.
When the Philippines assumed the chairmanship of the Asia Pacific Economic Cooperation (Apec) meetings this year, the government decided to put a special emphasis on the micro, small and medium sized enterprises (MSMEs) agenda—a move that saw, in recent meetings, the endorsement of position papers and recommendations, all championing the cause of these small companies.
And while the Apec meetings have yet to conclude, the Philippine government, through the Department of Trade and Industry, has already sprung into action, implementing concrete measures that are expected to help boost the bottom line of MSMEs.
One of these initiatives is the setting up of a platform that will help Philippine startup companies forge partnerships with potential angel investors, and address other concerns that will boost their ability to be part of global and regional trade.
Through the conference this week called SlingshotMNL 2015, which will be participated in by key international experts, the DTI will provide an avenue for local start up companies, investment firms, and government officials to network and establish ties to move forward the MSME agenda.
EXPECTED ATTENDEES. RICHARD DASHER, Ph.D., director, Stanford University
SlingshotMNL, which will run from July 6 to 8, is also named the official startup event of Asia Pacific Economic Cooperation 2015.
Organizers said the name of the conference was taken from the biblical story of David, who used a slingshot to defeat the giant, Goliath.
“In the case of SlingshotMNL, we will see the Davids of the business world—startups and MSMEs—become close allies of the giants of industry, working together to build stronger, more inclusive economies throughout Asia-Pacific. SlingshotMNL also refers to using innovative technologies to launch startups and MSMEs to new heights of achievement and business success,” the DTI explained.
According to trade officials, the DTI’s hosting of SlingshotMNL 2015 formed part of the Philippines’ initiatives under the “Boracay Action Agenda to Globalize Micro, Small and Medium Enterprises,” as local startups are also considered small businesses facing the same challenges as the MSMEs.
Raymond Albert Batac, executive director for the Foreign Trade Service Corps of the Philippines, explained that SlingshotMNL 2015 was one of the initiatives that would enable the DTI to put at the front and center the concerns of MSMEs, the most pressing of which are financing and promotions.
Batac noted that given the large number of startups providing various goods and services, the DTI hoped to create and provide a more conducive environment for them to participate in global commerce. Through this Apec mechanism, the DTI is looking to contribute to the existing regional network of innovators and accelerators, he added.
MICHAEL BROWN, Regional general manager, UBER
SlingshotMNL is a tech startup conference that will demonstrate not just how big the community is in the region, but also how high the level of innovation in Asia-Pacific is.
It will be an avenue where startup companies, investment firms, and representatives of government can network and share best practices on how a startup model can drive economies in the Asia-Pacific region and around the world.
The objectives behind SlingshotMNL are seen to dovetail with the theme of Apec 2015, which was all about building more inclusive economies, and in so doing, building a better world.
In creating an arena for the exchange of ideas, knowledge, plans, and concerns, economic growth that benefits all segments of society is expected to be achieved.
JIA JIH CHAI, managing director, Southeast Asia and India, AirBnb
Apec maintains a three-pronged approach to encouraging and empowering SMEs to engage in trade.
The approach covers building management capability, entrepreneurship, and innovation; improving SME’s access to financing; and creating a healthy business environment for enterprises.
Under this approach, Apec has piloted a number of programs, including setting up an innovation center for SMEs, providing access to mentorship through the Start-Up Accelerator Initiative, and helping startups secure funding through participation in international summits.
Apart from plenary sessions, workshops, and fireside chats, the two-day SlingshotMNL conference will also feature a pitching competition and exhibits from local startup companies.
It is expected to be attended by heads of the startup industry, startup incubators, business accelerators, investment and venture capital firms from the United States, Latin America, and Asia, as well as successful startup businesses such as Uber, GrabTaxi, Ashoka, Rags2Riches and AirBnb.
SlingshotMNL will cover a variety of topics including understanding hubs of innovation, opportunities in tech startup investing, redefining scale in the global market place, impact entrepreneurship; and startup ecosystem support.
“At the heart of every successful startup is a great idea. Slingshot MNL will be a showcase of the greatest of those ideas—a showcase of the incredible things that have already been achieved by startups, and of all that we can still achieve together,” said Earl Martin Valencia, president of IdeaSpace Foundation, an accelerator for Philippine tech startups.
