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Paolo Villonco – Government Support for the Startup Community

Ep 063 Paolo Villonco

 

 

 

 

 

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Derek is joined by Paolo in the third and final installment of their three-part interview. They will talk about the government support for the startup community in the Philippines.

Summary

  • Paolo is an advocate of trying to expose the Philippine Government to invest in technology or startups so that the Philippines will have a competitive advantage over others.
  • Paolo used a sports analogy to point out that sometimes we are focusing on funding projects that will not showcase our strengths as a country.
  • Also, Paolo appreciates the fact that startups are picking up here but the pace is still much slower than in other innovation hubs.
  • According to Derek, there are a lot of government initiatives to support startups which is very much present in hackathons and pitch fest.
  • According to Paolo, there was a discussion with some government agencies and he was told that they give up to $100,000 in grant money which will go far in the Philippines.
  • Every day, more freelancers are working on projects in Estonia, in London, in New York.
  • The Philippines’ exposure to global trends is much quicker now. Education is so much quicker and opportunities really have been democratized.
  • One of the advantages of the Philippines is that it is a low salary country. However, nowadays there is potential for Filipinos to earn as much as candidates from other countries if they are as good because of meritocracy.
  • Nowadays there is no need to go through traditional channels or come from a particular University or go through HR companies.

Key Points

  • Paolo and Derek both agreed that the Philippines has a competitive advantage over other countries in when it comes to biotech because of the flora and fauna in the Philippines.
  • According to Derek, U.S. borders are becoming less relevant and the spread of knowledge is happening so fast nowadays. If it was 30 years ago it would take cryptocurrency a decade to get to the Philippines whereas now it’s instantaneous.
  • One of the advantages of the Philippines is that it is a low salary country. However, nowadays there is potential for Filipinos to earn as much as candidates from other countries if they are as good because of meritocracy.
  • People can now find jobs on LinkedIn and other social media platforms.

Resources

Transcript

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About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.