BIZ BUZZ: Making an impact in Sicogon

Feature film “Asog” has garnered considerable international acclaim and elicited sympathy for families affected by the development of Sicogon island into a world-class tourism destination.

Property giant Ayala Land Inc. was not exactly cast in a good light in the story, to put it mildly.

But rather than expending energy on addressing “external narratives,” the Ayala-led company believes it can better serve the communities affected by its multibillion-peso development by focusing on fulfilling its commitments.

According to ALI, since it started developing the island as a tourism destination, it has made serious headway into fulfilling its resettlement, livelihood and infrastructure commitments under the amended 2021 Comprehensive Framework Agreement with the Federation of Sicogon Island Farmers and Fisherfolk Association (Fesiffa).

To date, 81 percent of the pledged P294 million—equivalent to P239 million—has been released for land development, housing construction and livelihood support since 2021.

According to ALI, long-term employment and economic prospects on the island used to be limited. But with the continuing development, over 400 residents have since been employed in tourism, construction and estate operations.

While most commitments have been met, the remaining 19 percent of funds will be released once the community completes necessary construction permits and agreed milestones.

ALI also says it remains engaged in finalizing the turnover of residential and agricultural titles to Fesiffa.

Significant progress has been made on the deed of donation, but further steps depend on Fesiffa’s final decision moving forward, it adds.

Here’s hoping that commitments will be fulfilled as soon as possible in the name of making sure that the majority of the parties will benefit, not just the big and the powerful. —Tina Arceo-Dumlao

From heels to high-tech

Marikina, the city that put Filipino shoemaking on the map, is stepping into a whole new kind of hustle—and this time, it’s not about leather soles, but Silicon Valley goals.

Enter the Philippine Innovation Hub-Marikina Enterprise Center, or iHub-MEC.

This five-story powerhouse in the NACIDA Compound is set to be launched later this month, and let’s just say it’s giving “startup chic” vibes.

Backed by the Department of Trade and Industry (DTI) and its investment arm, the National Development Co. (NDC), this isn’t just another government building with bland lighting and even blander coffee.

Nope, this is the Philippines’ fresh new flex in the innovation scene.

Think coworking spaces, funding support, mentorship and all the resources a scrappy founder could ever dream of.

For the longest time, if you wanted to build the next big app or pitch to a VC in a hoodie, you had to hustle your way to Makati or BGC.

But now? Marikina is sliding into the chat, and it’s coming in hot.

The iHub-MEC is the government’s big bet that the next tech unicorn can come from the same streets that once produced the finest handmade shoes in Asia.

And honestly, the timing couldn’t be better.

The hub was born from two big-deal policies: the Innovative Startup Act, aka Republic Act (RA) No. 11337, and the Philippine Creative Industries Act, or RA 11904.

The government’s not just giving good vibes with the hub—they’re actually giving venture capital.

Through their P500-million Startup Venture Fund, the DTI and NDC are putting actual pesos where their mouth is, investing in local startups that could be the country’s next breakout story.

Soon, somewhere in Marikina, a fresh founder will be able to pitch their app to a room full of mentors.

Once known for crafting the perfect pair of heels, Marikina’s now lacing up for the startup race, and it’s not planning to trip. —Alden M. Monzon