Photo from La French Tech Philippines/Facebook Page
Digital Pilipinas, the largest private sector-led movement to tech up the country, and the French Chamber of Commerce in the Philippines, in partnership with La French Tech, kicked off 2022 with a Startup Pitch Competition featuring nine Filipino and French startup companies.
The early-stage startups presented their innovative ideas from health, fitness and real estate to machine-learning solutions to potential investors at the recent Startup Pitch Competition launch.
The virtual pitching tournament aims to provide an avenue for French and Filipino tech startups to present their proposed solutions to many of the major issues currently faced by the country.
Continuous action
“This pitching contest is an illustration of a continuous action of the French Chamber to link Filipino, and French businesses,” French Ambassador to the Philippines Michèle Boccoz said in her opening remarks. “Amid the COVID-19 pandemic, it is the best time for us to see what needs our attention and how businesses can help. Innovation and creativity brought by startups are crucial.”
The French Ambassador also cited a study by Core Venture Capital, which showed massive growth in the Philippines startup ecosystem, raising $858 million in the first 10 months of 2021, or 97.83 percent of the total equity raised from 2017 to 2020.
Internet economy
“The Philippines ended 2021 as the fastest-growing internet economy in Southeast Asia, posting a gain of 93 percent from 2020,” she added.
Marie-Maylis Charlat, managing director of CCIFP, expressed hope that the competition could provide a platform for early-stage startups to network with investors.
“We hope to create a platform for startups and investors to meet, and the audience can also engage themselves by meeting each other,” she said.
During the competition, startups were given time to pitch to multiple investors, allow them valuable exposure and get invaluable feedback. They can also expand their network and potentially build partnerships.