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Startup Ecosystem Development Program
The Startup Ecosystem Development Program (SEDP) is a five-point program developed by the Department of Trade and Industry or (“DTI”) as the the industry cluster program to foster inter-enterprise linkages among MSMEs and strengthen collaborative networks.
With this action plan, the Philippine Government aims to create high-growth and high-impact startups that will nurture innovation, sustain economic growth and generate large-scale employment opportunities.
The Five-Point Program is divided across the following areas of development:
- Action No. 1: Increase culture and collaboration
- Action No. 2: Address legal and regulatory barriers
- Action No. 3: Support through government services, capital and resources
- Action No. 4: Create a national startup business council
- Action No. 5: Establish a Philippine startup economic zone
Under the SEDP is the QBO Innovation Hub Project. QBO is a public private partnership with DTI, DOST, IdeaSpace and J.P.Morgan that is the country’s first venture at a hub to speed up growth and learning for startups and entrepreneurs. Together with its partner institutions and startups, the startup enabler provides an avenue for collaboration and innovation with the vision of helping Filipino startups change the world. Just like the humble one-room house or kubo |koo-bo| that inspired its name, QBO stands for bayanihan or teamwork. QBO is a place where the community can come together to help ideas flourish, showcase Filipino innovation and build great companies.