Manila’s startup ecosystem value rose 259 percent to $2.1 billion in 2022 from $584 million last year, a global report showed.
Manila also landed in the top 20 global systems and top 10 in affordable talent in Asian ecosystem.
The Startup Genome’s Global Startup Ecosystem Report (GSER) 2022 released at the London Tech Week yesterday showed total early-stage funding in Manila increased to $292 million this year from $101 million last year.
The report said fintech and e-commerce also remain the country’s top-performing sectors due to their density of talent, support resources, and startup activity.
The report attributed the country’s strong startup ecosystem to the emergence of innovative and enterprising talent, complemented by enabling laws, and the development of high-impact policies, creating a more conducive business environment where our startups can thrive.
Tax incentives and support for foreigners were cited as reasons a startup should move to Manila.
Other citations for Manila are top 25 Asian ecosystem and top 15 Asian emerging ecosystem in funding; top 30 Asian ecosystem in bang for buck; top 30 Asian ecosystem and top 20 Asian emerging ecosystem in Performance and; top 30 Asian ecosystem and top 20 Asian emerging ecosystem in talent and experience
GSER is the world’s most comprehensive research on startups. – Irma Isip
