The Packworks has obtained P3.5 million in research funding from the DOST’s Philippine Council for Industry, Energy and Emerging Technology Research and Development. (Contributed photo)
Local startup Packworks has partnered with the Department of Science and Technology (DOST) to develop a new artificial intelligence (AI)-powered program to help “sari-sari” stores boost sales.
The company has obtained P3.5 million in research funding from the DOST’s Philippine Council for Industry, Energy and Emerging Technology Research and Development (PCIEERD).
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Packworks says P1.5 million will be allocated to develop a machine learning-powered precision marketing model that will offer small neighborhood stores customized recommendations on sellable items and promotions from their fast-moving consumer goods (FMCG) partners.
“[W]e aim to equip small entrepreneurs with data-driven insights and targeted strategies for enhanced business success and expansion,” Packworks chief data officer and project lead Andoy Montiel says in a statement.
The solution will be launched as an in-app service on Packworks’ Sari.PH Pro app and is expected to benefit its network of over 270,000 sari-sari stores across the Philippines.
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“This collaboration exemplifies the government’s commitment to fostering technological advancement and economic growth through strategic public-private partnerships, as outlined in the Innovative Startup Act,” PCIEERD executive director Enrico Paringit says.
“We look forward to witnessing the transformative impact of this partnership on the grassroots retail industry towards driving inclusive growth and innovation across the Philippines,” he adds.
Launched in 2018, Packworks aimed to provide a solution for multinational FMCG companies that only have a handful of sari-sari store partners. It has since rapidly expanded as a business-to-business platform that enables growth for all stakeholders in the supply chain ecosystem.