PH startups 'center' of global attention with over $1-B investments in 2022: Digital Pilipinas


Posted at Mar 20 2023 10:01 AM

Watch more on iWantTFC

Philippine tech startups are getting global attention after earning over $1 billion in investments in 2022, Digital Pilipinas Convenor Amor Maclang said on Monday.

Philippine startups are made appealing due to the country's young ecosystem and its 70 million mobile phones which is at par with other bigger peers, among others, Maclang told ANC. 

"Last year, we experienced record highs when it comes to investments coming from all over the world. Winter is thawing especially in terms of investments. The Philippines appears to be at the center of these investments," she said. 

"For the first time, Philippine startups exceeded $1 billion in investments and some private equity and venture capital funds close to a quarter of a billion into one country," she added.

She said the government must support deep tech as well as basic tech startups that aim to solve the very basic problems.

Maclang said there could be 4 more Philippine unicorns to follow GCash, which achieved double unicorn status in 2021.