QBO celebrates 4 years, ₧167 million in funding assistance for start-ups
AUGUST marks the fourth anniversary since QBO Innovation Hub first opened its doors in 2016. As the country’s first publicprivate initiative created through a partnership between Ideaspace, J.P. Morgan, Department of Science and Technology, and the Department of Trade and Industry, QBO has significantly contributed to the growth of the Philippine start-up ecosystem by serving as a platform for the startup community to collaborate, develop talent, and grow. Although a lot has changed, one thing remains true: QBO remains fiercely committed to their mission of creating a globally competitive startup ecosystem in the Philippines through championing innovation.
Nobody could have imagined how far QBO would go, or that it would foster such an incredible community. In sharing their pride in all that they’ve accomplished, QBO organized a simple yet meaningful virtual birthday celebration to thank everyone for their support as well as look back at some amazing milestones.
Of course, QBO would not have been possible without the incredible support of PLDT and Metro Pacific Chairman Manuel “Manny” V. Pangilinan who also took part in celebrating the fourth anniversary of QBO. In his message, Manny Pangilinan stated that “everyone—business, government, communities, families, and individuals—has to change the way they do things to survive and prosper. This simply means going digital. But that’s precisely up [QBO’S] alley—digital innovation is in your genes; it is actually what defines you.”
High-impact tech startups gathered during the INQBATION Startup Showcase, an initiative of QBO Innovation Hub in partnership with J.P. Morgan that aims to put a spotlight on 15 scalable startups and help them connect with potential investors and partners.
Indeed, QBO has raised over P167 million in funding assistance and successfully incubated many techenabled start-ups including Kumu, a Filipino-centric live streaming social app; Payo, a gateway that simplifies cash on delivery transactions; Senti, a customer-centric AI solutions startup that’s been actively supporting the Department of Health in the Covid-19 fight; Cropital, a crowdfunding platform connecting anyone to finance local farmers; Mad Travel, a social tourism platform that supports marginalized communities in the Philippines; among others. With over 205 partners and collaborators, it also continues to assist start-ups across all stages and sectors in the different parts of their venture’s journey. QBO currently supports a total of 7,700 members and 421 start-ups in the QMMUNITY by providing a full range of free programs and services including introductory classes, workshops, feedback and consultation sessions, mentorship, and investment support and other growth opportunities.
With Science Secretary Fortunato de la Peña’s relentless pursuit of innovation, he believes that in tandem with various government initiatives, QBO will continue to push the boundaries of tech despite the challenges posed by the pandemic through “[supporting] more startups that will meet the demands of the new normal.” He is optimistic and confident that QBO will create waves that will propel “the Philippines to be [the] top in the region for having the best and the biggest number of start-ups.”