THE Information and Communication Technology (ICT) committee of the Cebu Chamber of Commerce and Industry (CCCI) will propose the creation of a Startup Hub, a one-stop shop where Cebu’s startup community could be linked to mentors, money
and market.
Michael Cubos, CCCI’s ICT committee in-charge and past president of Cebu Innovation Council, said the Startup Hub, which will be under CCCI’s supervision, will further strengthen Cebu’s startup ecosystem as the hub will be a concierge that startups could tap.
“We will assign an officer that will walk our startups from A to Z, meaning someone will assist them,” he said.
Cubos said the framework for this project is already in place which the group will propose to the CCCI top leaders. This proposal came after CCCI announced the creation of a “Cebu Investment Concierge” in partnership with Cebu City government.
Cubos said he was approached by the startup community to also create a similar service for them to which he agreed knowing how different their needs are compared to the traditional industries.
“They are not seasoned entrepreneurs, so they badly need assistance and support,” he said.
Moreover, Cubos thinks the creation of the Startup Hub will also pave the way for these startups to be registered.
“We currently don’t have an official count of these startups in Cebu because for them, why would they register when they don’t get incentives or assistance. By creating such, we can address their concerns,” he said.
Cubos, who is also the Cebu Business Month 2020 chairman, said the Startup Hub will be the “go-to-place” for venture capitalists who are looking for projects to fund.
Cubos said the chamber has already an initial list of angel investors and venture capitalists that startups could approach. This way, linking both partners will now become easier.
Besides setting up the hub, Cubos will also tap the services of various government agencies like the Department of Trade and Industry (DTI) and the Department of Science and Technology.
Seeing the huge potential it could bring to Cebu’s economy, the DTI has been conducting various programs that would strengthen Cebu’s startup ecosystem.
Maria Elena Arbon, DTI 7’s assistant director, earlier said they are working on expanding the startup community.
She said there is a need for startups to grow for the private sector to respond to the call.
“The private sector is still observing. As of now, our startups are still in the early stage and we need more (of them). Once we hit the sweet spot, the private sector will put it up,” she said. KOC