DOST targets at least 500 startups by 2018

The Department of Science and Technology-Information and Communications Office has set goals under the Philippine startup roadmap -- one of which is to establish at least 500 startups by 2018.

Rik Amores, director of DOST-ICTO's Visayas cluster, said the startup roadmap which is being crafted with the help of various private groups is set to be released within the year.

One of 2018 goals set in the roadmap, Amores noted, is to be able to rake in total funding of $200 million from private investors and reach a cumulative valuation of $2 billion for the country's startup sector.

"Part of our goal is to have job generation of 8,500 high-skilled jobs," the official said. "Also, we want to create startup funders of at least 1,250."

The tech roadmap is also aimed at boosting technopreneurship in the country especially in information and communications technology (ICT) hubs.

The roadmap will serve as a framework for both the government and the industry in developing the startup ecosystem.

When asked whether the goals are doable, Amores said these can be realistic if "we put this framework forward."

Tech startup advocates have been pushing for a roadmap that sets a priority in helping technology-powered enterprises achieve its potential.

A startup can refer to a growing Internet-based business that offers innovative solutions to an existing problem.

The DOST says helping the startup community grow will also heighten the growth of the information technologybusiness process management (IT-BPM) industry.

Amores urged Filipinos to see the available opportunities in technopreneurship and not just rely on employment.

The launch of the Philippine Startup Challenge, for instance, is one way to encourage the youth to create innovative technology ideas that address relevant societal issues. —