Developing the next generation of ‘Filipinnovators’

Based on a recent study by Shikhar Ghosh of the Harvard Business School, “75% of all start-ups fail” because launching a new enterprise has always been a “hit-or-miss” proposition. Steve Blank of Stanford University further states that the decades-old formula of “writing a business plan, pitching it to investors, assembling a team, introducing a product, and start selling as hard as one can” is risky because setbacks are expected and the odds are always against the entrepreneur.

Thus, a methodology known as “lean start-up” has been introduced that favors “experimentation over elaborate planning, customer feedback over intuition, and iterative design over traditional big design up front development,” and has proven to be a quicker, better, and more efficient alternative when starting a business.

It is with this scenario that a variety of organizations worked together to provide lean start-up techniques to ten groups from all over the Philippines that already have ideas but need to level up to bring their products and services. These groups — the Department of Science and Technology’s Philippine Council for Industry,