Plug and Play demonstrated its growing interest in accelerating Asian technology companies by partnering with Globe Telecom’s Kickstart program. Globe, the second largest telecom company in the Philippines and part of the Ayala Group, will send five startups anually to Silicon Valley to take part in Plug and Play’s international accelerator program. The accelerator program offers working space, mentorship, training, business development leads, funding opportunities, and a chance to pitch at Plug and Play’s flagship quarterly startup competition, Expo.
The Philippines, sometimes referred to as the “baby tiger” in terms of Asian economic development, has been growing at a rate of 8% per year and is building its global reputation with 10 million Filipinos working abroad. Within its boundaries, an estimated 1 million outsourcing positions have developed within the last 10 years. The Ayala Group has been a pioneer in banking, real estate and telecommunications in the Philippines for more than 50 years and now aims to become a force in developing the technology ecosystem in Manila and the rest of the Philippines. The partnership between Globe and Plug and Play also offers Philippines tech companies a clear distribution path to the US market.
“It has been approximately one year since I last saw the new group of startups in Manila and I must say the quality and enthusiasm of the startups were as good as any startup I have seen in Silicon Valley,” said Plug and Play founder and CEO Saeed Amidi. “We really look forward to this relationship producing more than 100 companies in Manila.”
Only a month ago, Plug and Play announced a similar partnership with German publisher Axel Springer, suggesting that overseas expansion and investment remain a top priority for the Silicon Valley business accelerator.
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