‘Startup Hub’ mulled to assist local startups

CEBU, Philippines —Cebu Chamber of Commerce and Industry (CCCI), ICT (Information and Communication Technology) may soon set up a “Startup Hub” in Cebu.

CCCI ICT committee in charge Michael Cubos announced yesterday that he is going to propose the installation of “Startup Hub” to support the budding startup community in Cebu.

In an interview yesterday, Cubos who is also the immediate past president of the Cebu Innovation Council, said the hub will serve as an “one-stop-shop” to cater the need of startup community in Cebu to promote growth for Cebuano startup companies, as well as linking them to market, venture capitalists, and other funding and technology assistance here and abroad.

This proposal followed after the Chamber announced the creation of “Cebu Investment Concierge” which is a partnership with Cebu City government.

According to Cubos, startup has to be given special focus, as their needs are different from the conventional industries.

Besides, providing this hub also gives easier access for investors, venture capitalists (VCs) to choose the right startup partners.

In cooperation with government agencies like Department of Trade and Industry (DTI), Department of Science and Technology (DOST), Department of Information and Communications Technology (DICT), startup entrepreneurs may avail of incentives and assistance from different programs from the government.

Earlier, DTI-7 assistant regional director Ma. Elena Arbon said the her office is connecting with people and institutions to help push innovation in Cebu.

DTI-7 launched the Startup Island Mentoring Program last year. The program is designed to assist local startups to learn entrepreneurial skills, at the same time strengthen their business models and scale-up.

Earlier, DTI-7 regional director Asteria Caberte said that the start-up community will also be given access to capital through adapting the venture capitalism concept.