DTI-7 Launches Startup Mentoring Program

The Department of Trade and Industry (DTI-7) launched a mentoring program for the Cebu tech startup community on July 14 at Quest Hotel, this city.

DTI-7 Provincial Director Maria Elena Arbon said that Launchpad coaches will assist startup founders to gain traction and prepare for funding.

She said that the goal of the Launchpad program is to help startups transform into “investable, sustainable, and rapid-growth businesses”

“We look at startups as potential small and medium-sized enterprises (SMEs) that we can help develop,” she said.

Arbon said that funding is not a problem among startups, but rather the mentoring.

“We found out that the problem among startups is the mentoring, which is also the problem among SMEs,” she said.

Sen. Paolo Benigno “Bam” Aquino IV, author of the Go Negosyo bill and the Startup Business Bill, said that the difference between the traditional SMEs and tech startups is the ability to scale at a faster rate.

“We are putting our effort to really support tech startups. As they scale, hopefully, they won’t only bring in more income to the country but they’ll create more jobs,” he said.

Aquino also said that there will be 11 Negosyo Centers in Cebu by the end of the year.

“There is so much effort to really push Negosyo Centers and make it relevant to entrepreneurs,” he said.

DTI is collaborating with the Department of Science and Technology (DOST), Philippine Software Industry Association (PSIA), and TechTalks for the startup mentoring program.

Also present in the press conference are Cebu Educational Development Foundation for Information Technology (CEDFIT) managing director Wilfredo Saa Jr., Spring.ph co-founder Arup Maity, and Symph Studios founder Dave Overton. (rmn/mjpap/PIA7-Cebu)