DTI Invites Creative Startups to Jumpstart Businesses with IDEA, ADVanCE Programs

2 February 2024 Manila, Philippines - The Department of Trade and Industry, through the Competitiveness and Innovation Group (DTI-CIG), is looking for creative startup companies to onboard to their two programs designed to support and strengthen the creative industries in the Philippines.

The DTI-CIG, led by Undersecretary Rafaelita M. Aldaba, in partnership with startup accelerator Launchgarage, has launched the creatives edition of the Incubation, Development, and Entrepreneurial Assistance (IDEA) and Accelerating Development, Valuation, and Corporate Entrepreneurship (ADVanCE) programs aimed at providing customized support to creative startups in the Philippines to help them become market and investment-ready.

The application period is until 11 February 2024. To know more about the programs and submit applications, interested parties can visit the official websites of the IDEA program-creatives edition and the ADVanCE program, as well as the DTI-CIG Facebook page.

"The programs are a testament to the Philippine government's belief in the immense potential of Filipino creativity and entrepreneurship. By providing the much-needed support and platform, we are setting the stage for creative startups to not only thrive locally but also make a significant impact on the global stage. The creative sector is a vital component of our economy and cultural identity, and through initiatives like these, we aim to foster an environment where ideas can flourish, talents are honed, and success stories are born," Usec. Aldaba said.

The Philippine creative industries play a significant role in the national economy. Data from the Philippine Statistics Authority (PSA) revealed the creative economy amounted to P1.60 trillion in 2022, contributing 7.3% to the country’s gross domestic product (GDP). Furthermore, the sector was responsible for employing almost 7 million Filipinos that year.

The IDEA for Creatives edition will onboard 10 early-stage creative startups and enterprises to support and enhance their entrepreneurial capacity and readiness. Under the program, selected startups will participate in various educational workshops aimed at transforming their inventive business concepts into successful enterprises. Each will be paired with experienced mentors and coaches to guide them in their startup journey. The program culminates with a showcase event, where startups can present their ventures to program stakeholders, angel investors, venture capitalists, corporate representatives, and key figures in the ecosystem.

Early-stage startups that are operating in the Philippines with a minimum viable product, registered or in the process of registration to the Securities and Exchange Commission (SEC) or DTI, with 60% of its founders Filipino, and with at least two founders committed to the IDEA program, are eligible to apply.

Meanwhile, an initial pool of 10-15 startups will be chosen to participate in the ADVanCE for Creatives. After the preliminary screening, they will be assessed based on organizational capacity, business maturity, and readiness levels. From there, five participating startups will be selected to proceed to the acceleration phase and undergo intensive training based on the specific interventions identified from the needs assessment.

To be eligible, startups should be in their growth and expansion stage and are based in the country with at least two years of operations with revenue, SEC or DTI-registered, with 60% of its founders Filipino, and with at least two founders committed to the ADVanCE program.

DTI welcomes all creative startups within the domains of audiovisual media, digital interactive media, creative services, design, publishing and printed media, performing arts, visual arts, traditional cultural expressions, and cultural sites to apply to the programs.

"We call on all eligible creative startups to seize this unparalleled opportunity. Join us in this endeavor to transform your innovative ideas into successful enterprises and become part of a movement that celebrates and elevates Filipino talent and ingenuity," Aldaba shares.

The IDEA and ADVanCE programs are aligned with RA 11337, or the Innovative Startup Act, aimed at providing benefits and programs to strengthen, promote, and develop the Philippine startup ecosystem. Their latest cohorts will focus on the creative industries in accordance with Republic Act No. 11904 or the Philippine Creative Industries Development Act (PCIDA), which mandates the development of a vibrant and globally competitive Philippine creative sector by protecting and enhancing their rights and boosting economic capacities.

SM Prime’s Second Annual Integrated Report Receives Multiple Recognition from International Organizations

(May 22, 2023, Pasay City) SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property developers in Southeast Asia, has been recognized by three international award-giving bodies for excellence in transparent Environmental, social, and governance (ESG) reporting for its 2021 Annual Integrated Report entitled "Together, We Rise".

SM published its sustainability reports since 2013 even before the Securities and Exchange Commission (SEC) mandated sustainability reporting in the Philippines. SM Prime further promotes transparency and accountability by informing investors and stakeholders of its ESG performance and impacts, decision-making processes, and competitive positioning value in the sector.

“We are honored to receive these awards as a recognition of our commitment to provide transparent reporting in our sustainable practices. We value all our stakeholders, and we strive to enrich the quality of life of the Filipino people,” SM Prime President Mr. Jeffrey Lim said.

At the summit of international recognitions, SM Prime bagged accolades from the biggest and most coveted awards competition in the business world called Stevie® Awards. The Asia-Pacific Stevie Awards recognizes business innovation across the entire Asia-Pacific region, whereas IBAs is one of the first and most highly anticipated awards programs of the Stevie Awards that features a wide variety of categories relevant to every facet of the workplace that is open to all kinds and sizes of organizations globally. SM Prime was awarded the Bronze Stevie® Winner at the 2023 Asia-Pacific Stevie Awards program and Silver Stevie® Winner in the 2022 International Business Awards (IBAs).

Also, in the regional scene, the company won a Silver Rank in the Asia Sustainability Reporting Rating (ASRRAT) 2022, a sustainability report ranking by the National Center for Sustainability Reporting (NCSR). ASRRAT’s rating system employs criteria based on GRI Standards compliance, GHG disclosures transparency, and alignment with and support of the UN SDGs, among other factors.

The international recognitions are a testament to SM Prime’s active role in championing sustainability across its operations as it continues to be a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.

NOW AND THEN: Rural Improvement Club (RIC) Federation Citronella-based Products

In their aspiration to contribute in the industry sector in town, a group of women from Lal-lo, Cagayan formally registered the Rural Improvement Club (RIC) Federation a non-stock, non-profit federation with the Securities and Exchange Commission (SEC) on October 9, 2017.

In the year 2015, with the leadership of Board Member Hon. Maria Olivia Pascual, the club was duly organized in support to the Campaign Project of Lal-lo Local Government, in partnership with the Department of Science and Technology ((DOST), to fight and eradicate Dengue.

Realizing the benefits of citronella and adding their vision to make their community a green and healthy one for their constituents, the club came up with the idea to venture in Citronella Processing.

The Department of Trade and Industry (DTI) also played a big part in the success of Lal-lo RIC, as it gave the business a brand that is known in the national market. Since 2018, when Noemi Agcaoili, a representative of the club joined the Kapatid Mentor Me (KMME) Program of DTI and Go Negosyo, the market of the club expanded at its widest level. The citronella products of the federation never passed the opportunity to join all of the DTI-initiated activities like Padday na Lima Regional Trade Fair, National Trade Fair, Manila FAME, National Arts and Crafts Fair, and Mega Trade Fair that contributed to the exposure of the product for both local and international markets. As a testament to the club’s products, the Local Government of Tuguegarao City ordered 30 Liters of Citronella Oil in celebration for its Annual AFI Festival.