Innovative Start Up Act’s IRR to raise PHL startups to world class level —Trade chief Lopez

The Implementing Rules and Regulations of the “Innovative Start Up Act” was signed on Friday, December 6, 2019 in Quezon City. In photo from left are QBO Innovation Hub president Rene “Butch” Meily, Science and Technology Undersecretary Rowena Cristina L. Guevara, Science and Technology Secretary Fortunato T. Dela Peña, Trade and Industry Secretary Ramon M. Lopez, Information and Communications Secretary Gregorio B. Honasan II, DTI-Competitiveness and Innovation Group Undersecretary Rafaelita M. Aldaba, Information and Communications Assistant Secretary Emmanuel Rey Caintic, and DICT-Legal Affairs Policy, Planning and Finance Undersecretary Jose Arturo C. De Castro. QBO Innovation

The Implementing Rules and Regulations of the “Innovative Start Up Act,” which aims to “strengthen, promote, and develop” the country’s startup ecosystem, was signed on Friday during the Philippine Startup Week (PHSW19) in Quezon City.

This development made it easy for “investors to see potential in the country,” said Trade Secretary Ramon Lopez said in a statement.

“Events like these will enable the Philippines to become home to world-class startups,” said Lopez who was at the signing ceremony.

Signed by President Rodrigo Duterte on April 26, Republic Act No. 11337 offers “programs, benefits, and incentives” to startups and enablers.

Also at the IRR signing at the Crowne Plaza, Manila Galleria were Science and Technology Secretary Fortunato dela Peña, Information and Communications Technology Secretary Gregorio Honasan II, and QBO Innovation Hub resident Rene Meily.

PHSW19 is a “multi-city, simultaneous gathering of the Filipino startup community which aims to solidify their commitment to raise the level of the industry.”

“The Filipino startup community has been thriving and has shown great promise in recent years ... By coming together these startups are able to support one another towards better chances of success,” Dela Peña said.

“I am confident that under the one government approach we can accelerate the growth of the number of successful startups in our country,” he added.

Startups in other areas including Albay, Bohol, Butuan, Pampanga, Baguio, Iloilo, Cagayan, Davao, Dumaguete, and Laguna held simultaneous activities which highlighted the growth of the industry and its potential in the future. —Joahna Lei Casilao/VDS, GMA News