News » PH startup investments reached $547M

PH startup investments reached $547M

A total of US$547 million was invested in Philippine startups as of 2020, according to Department of Trade and Industry (DTI) Secretary Ramon M. Lopez.

During the virtual Manufacturing Summit 2021, Lopez said that over US$50 million in investments were made to our local startups that include Kumu, Paymongo, Plentina, Great Deals Ecommerce, GrowSari, and NextPay, among others.

The trade secretary added in his keynote speech that “despite the struggle of traditional businesses, tech startups have continued to emerge and provide solutions and services to the public amidst the pandemic.” 

With the implementation of the Innovative Startup Act, Lopez expects to see the emergence of new businesses that will address “future societal problems and challenges of the country.”

The Philippines currently has over 700 startups, more than 200 co-working spaces, and over 35 incubators and accelerators, and numerous potential investors and venture capitalists nationwide.

Read more here.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.