DTI inks pact with IdeaSpace

The Department of Trade and Industry signed on Monday an agreement with non profit group IdeaSpace Foundation to launch an innovation hub aimed at helping set up the technology startup ecosystem in the country.

Called the QBO Innovation Hub, it is envisioned to provide a platform that will “link innovators, explorers, investors, academic institutions, startup mentors, funders and enablers as well as a broad spectrum of partners and stakeholders from both public and private sectors to convene in constructive interaction.”

It is also DTI’s support to the startup community, particularly targeting startups with viable business propositions.

“This initiative is the DTI’s way of providing relational form of assistance that boosts the climate of collaboration within the startup community, private sector, the academe and the government,” explained Senen M. Perlada, director of the DTI Export Marketing Bureau (EMB).

It is hoped that the QBO Innovation Hub will open more opportunities for market access and capital, and mentorship for Philippine startups, on the back of the growing number of young entrepreneurs in the country.