Philippines Becoming a Tech Startup Talent Hub

Less than two decades ago, Bonifacio Global City was nothing but a military base in the middle of the city. With an aggressive conversion program, the district is now a bustling financial hub filled with innovative skyscrapers, luxury shopping malls and residences.

The rapid growth that the Philippines is experiencing can be traced from so-called tech "unicorns". Unicorns are tech-startups that rapidly grew to a billion-dollar valuation and beyond. Philippines is the world’s second-fastest growing economy. It plays an important role in supporting tech companies accessing talent. The country has a huge business process outsourcing industry. Employing more than a million workers, it hit a $25 billion revenue last year. 

I believe that the Philippines has all the important key ingredients to be the next emerging tech tiger. A fast growing middle class with money to spend; a 100-million strong, largely English-speaking nation; a population that is addicted to social media. In addition to that, the country has a relative low labor and operating costs. Leading to what is known as endogenous growth theory – it essentially shows that technological innovation and economic growth are interactive and mutually reinforcing. 

We at Republisys have always believed in the Filipino talent. Emerging markets like the Philippines is a popular place for outsourcing cheap labor. But these talents can provide more than just cutting costs and offering skill work. Filipino workers provide themselves as valuable partners in the growing tech industry that startups should take notice. 

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Randy Prado is the Chief Executive Officer at Republisys. Together with his talented employees, Randy is working to transform and bring innovation in the tech industry in the Philippines.