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Paolo Villonco – Government Support for the Startup Community

 

Derek is joined by Paolo in the third and final installment of their three-part interview. They will talk about the government support for the startup community in the Philippines.

 

Summary

  • Paolo is an advocate of trying to expose the Philippine Government to invest in technology or startups so that the Philippines will have a competitive advantage over others.
  • Paolo used a sports analogy to point out that sometimes we are focusing on funding projects that will not showcase our strengths as a country.
  • Also, Paolo appreciates the fact that startups are picking up here but the pace is still much slower than in other innovation hubs.
  • According to Derek, there are a lot of government initiatives to support startups which is very much present in hackathons and pitch fest.
  • According to Paolo, there was a discussion with some government agencies and he was told that they give up to $100,000 in grant money which will go far in the Philippines.
  • Every day, more freelancers are working on projects in Estonia, in London, in New York.
  • The Philippines’ exposure to global trends is much quicker now. Education is so much quicker and opportunities really have been democratized.
  • One of the advantages of the Philippines is that it is a low salary country. However, nowadays there is potential for Filipinos to earn as much as candidates from other countries if they are as good because of meritocracy.
  • Nowadays there is no need to go through traditional channels or come from a particular University or go through HR companies.

 

Key Points

  • Paolo and Derek both agreed that the Philippines has a competitive advantage over other countries in when it comes to biotech because of the flora and fauna in the Philippines.
  • According to Derek, U.S. borders are becoming less relevant and the spread of knowledge is happening so fast nowadays. If it was 30 years ago it would take cryptocurrency a decade to get to the Philippines whereas now it’s instantaneous.
  • One of the advantages of the Philippines is that it is a low salary country. However, nowadays there is potential for Filipinos to earn as much as candidates from other countries if they are as good because of meritocracy.
  • People can now find jobs on LinkedIn and other social media platforms.

 

Resources

 

Transcript

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