Silicon Valley startup opens Manila office

Silicon Valley startup Wave Computing on Wednesday announced that it will start operations in the Philippines through an office in Bonifacio Global City.

"Our doors are open, we're actively working right now, and we're hoping to get our first employees in a few weeks," CEO Derek Meyer told reporters on the sidelines of The Chamber connects with Silicon Valley event in Makati City.

Meyer declined to disclose the artificial intelligence company's initial investment amount for its Philippine operations but said investing in an office in the country fit the company's budget allocations.

"We think this is a great opportunity from a budget standpoint," Meyer said, noting that the company initially plans to hire a core team of 15 to 20 people and grow the company from there.

"Everything from meeting with government and industry, a broad collection of interactions three to four years now. It seemed like a natural transition for us," he said.

Wave Computing's Philippine operations will be headed by vice president Rufino Olay III, who said he is now working to hire Filipino scientists.

"I'm going to look not just for data scientists but also seek programmers, mathematicians, people that are in science in general," he said, noting that he is also coordinating with local schools for the possible employment of their students.

"The enthusiasm of the Filipinos is that they want to stay in the country and I think what we're going to do is provide that, instead of them having a brain drain and go overseas," he added.

Olay said he is now in talks with schools such as the University of the Philippines (UP), the Ateneo de Manila University (ADMU), and the Asian Institute of Management (AIM), and could possibly send the students abroad for proper training on artificial intelligence. — BM, GMA News