Department of Trade and Industry (DTI) Secretary Adrian Cristobal Jr will launch “Slingshot Philippines” (SlingshotPH), a national summit on Startups and Innovation, on 21-22 April at the Philippine Trade Training Center (PTTC) in Pasay City. SlingshotPH will gather over 500 participants from various government agencies, local startups, and investors or venture capitalists.

“MSMEs are the new technology trading multinationals. Our role as government is to create an enabling environment for startups to create new products, develop new service categories, and even business modules” Cristobal said.

“Startups” are often associated with micro, small, and medium enterprises (MSMEs) or small companies creating new technology-based products and services such as mobile apps or software. The worldwide web is a virtual market of approximately 3.37 billion internet users worldwide, 1.62 billion in Asia, and 47.13 million in the Philippines.

SlingshotPH will feature speakers from various government agencies including DTI and the Department of Science and Technology (DOST), successful startup founders, and panelists who will discuss funding, incubation, accelerators, and mentoring.

This year’s theme “Accelerating the Innovation Economy” captures DTI’s thrust focusing on speeding up the building of the country’s startup ecosystem.

​DTI Undersecretary Nora K. Terrado said that SlingshotPH will address specific challenges identified in building the Philippine startup ecosystem. She said that the event also supports the DOST’s digital startup vision which aims to develop a national innovation system.

DTI support for startups include the establishment of co-working spaces in Metro Manila and key cities of the country. These shared service facilities include office space as well as equipment and in some cases, highly specialized technology such as a Fabrication Laboratories (FabLab). “Co-working spaces would especially be useful outside Metro Manila, where MSMEs can’t afford to have their own offices and equipment. In most cases, the equipment is integral to getting access to the technology they might require and accessing foreign clients or buyers,” said Cristobal.

Fablabs provide state of the art technology and equipment such as laser cutting, computer numerical control, rapid prototyping, haptic interface modeling, and virtual reality modeling. The Bohol Island State University hosts the first Fablab in the country. DTI plans to launch at least six (6) more Fablabs by end of the year.

In 2015, the Philippines took a dramatic jump from 100th to the 83rd spot in the Global Innovation Index (GII).

For more information about SlingShot Philippines, please visit www.slingshotph.com or contact the Secretariat (632) 926.0224, and 0917.8274518.