How changes to procurement law can help PH tech startups

ABS-CBN News

Posted at Nov 21 2023 11:22 AM

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Tech startups in Metro Manila now have a valuation of $3.5 billion, according to the Department of Trade and Industry, citing an industry report. 

The DTI is looking to grow the tech startup sector further to $10 billion in 5 years by expanding outside Manila. One way to help the sector is for the government to amend laws on procurement so that startups can take part in bidding for products and services. 

Trade Undersecretary Rafaelita Aldaba noted that it is difficult for startups to participate in government procurement because of the many requirements that smaller companies may not be able to fulfill easily. 

"Government should be the first one to procure these products and this is actually being done in other countries," Aldaba said. 

Some of the most promising new tech firms are taking part in the Philippine Startup Week being held in Makati this week. 

- Report from Jekki Pascual, ABS-CBN News