DTI launches program to help tech startups

The Department of Trade and Industry (DTI) has launched a program to help technology startup companies, a report by Lei Alviz on "Balitanghali' said Tuesday.

The QBO Innovation Hub located in DTI International's office in Makati is a program established to support entrepreneurs engaged in making mobile applications, online platforms, and games.

QBO (pronounced "kubo") is a collaboration between the  DTI, Department of Science and Technology, IdeaSpace Foundation, and JP Morgan.

"The purpose of this is to provide better opportunities for our micro, small, and medium enterprises who are very focused on innovative ideas and using technology," Trade Undersecretary for Industry Promotions Group Norra Terrado said.

Among the usual challenges tech-startups face is the lack of funding. At the QBO Innovation Hub, entrepreneurs get help in finding capital and also undergo mentoring and workshops to improve their products.

"We link them up to partners, venture capitalists, even angel entrepreneurs," Terrado said.

The DTI is aiming that around 500 tech startups will be established in the Philippines by the year 2020, in the hope that they will provide innovative solutions and open more opportunities. — John Ted Cordero/BM, GMA News