Secretary Ivan John Uy of the Department of Information and Communications Technology (DICT) inaugurated the two-day Geeks On A Beach (GOAB) 2023 international conference on Thursday, November 23-24, expressing confidence in the Philippines’ flourishing startup ecosystem. He highlighted the growth of over 1,100 startups, 60 incubators and accelerators, 50 venture capitalists, and 200+ co-working spaces nationwide, fostering collaboration.
“It is truly an honor to commence the sixth edition of Geeks on a Beach. As we assemble here, it’s heartening to witness our collective efforts transforming the Philippines into a pivotal regional hub for startups and digital innovation. Our vibrant startup ecosystem’s growth is a testament to this reality,” Secretary Yu affirmed.
He emphasized that Geeks on a Beach epitomizes the convergence of diverse minds, envisioning this year’s event as an arena brimming with limitless potential—a perfect setting for groundbreaking ideas to take flight.
Nearly 1,000 guests, including technopreneurs, investors, startup enthusiasts, venture capitalists, and angel investors, converged in Panglao for Geeks On A Beach 2023 after a five-year hiatus.
Secretary Uy pledged the DICT’s commitment to accelerating digital transformation and nurturing the country’s startup community. They aim to launch programs aligned with the Innovative Startup Act of 2019, offering funding, mentorship, and streamlined processes to support startups.
“This law outlines the blueprint for advancing the Philippine Startup Ecosystem, providing funding, mentorship mechanisms, and streamlined processes to empower our startups,” Uy emphasized.
The timing of GOAB during this year’s Philippine Startup Week highlights the boundless potential within Filipino technopreneurs. “Investing in Filipino Homegrown Heroes as Global Game Changers” reflects our steadfast dedication to empowering local startups, enabling their growth and success,” Secretary Uy concluded.
Founder’s panel discussion insights
Following the keynote address by the DICT secretary, a panel discussion featured prominent startup founders in the country, including Roland Ros, CEO and Founder of Kumu; ER Rollan, CEO and Founder of GrowSari; and Steve Sy, Founder of Great Deals E-commerce.
All three founders unanimously identified the greatest challenge in the startup industry as understanding the “whys” and cultivating the right mindset for initiating and developing a startup.
Roland Ros expressed that sacrificing everything for the motherland is worthwhile in making a significant impact on efficiently growing into a unicorn and establishing a sustainable business environment.
ER Rollan emphasized the importance of understanding the reasons and mindset behind starting a company, being prepared to be the ultimate beneficiary of the endeavor. He remarked, “The toughest part of a startup is being the last benefactor. The next unicorns of startups will come from the Philippines.”
Steve Sy of Great Deals E-Commerce highlighted that every challenge presents an opportunity, instilling values in individuals. In the fast-paced e-commerce sector, the challenge lies in adapting to evolving e-commerce technology. He emphasized the entrepreneurial mindset of consistently thinking about upscaling, growing revenue with minimal expenses, and efficient scaling as the key to startups.
Despite the challenges faced by these homegrown startups, which are prominent in the country, they recognize the Philippines as an emerging and the fastest-growing economy in Asia. They envision 2024 as the foundational year for the growth of the startup ecosystem in the Philippines.
