A P10-MILLION worth of budget was approved for the establishment of an Innovation Hub along R. Magsaysay Avenue, Davao City intended for the promotion and investment connections of tech start-ups.
During the Icapehan conference of the University of Southeastern Philippines (USEP) Institute of Computing, Information and Communications Technology Davao Field Office director Alimbzar P. Asum said they are looking forward for the establishment of the hub within 2018. Currently, a government-owned facility is located along R. Magsaysay Avenue sandwiched between Vivaldi residences development and the Philippine Post Office. This, according to Asum, will be renovated to become the 2-storey innovation hub in Davao City.
"We are currently finalizing the processing of the papers and documents especially about the partnership of the Department of Information and Communications Technology (DICT) and ICT Davao," said Asum.
The innovation hub will have a co-working space where computers, a 24/7 internet access, and a space conducive for online work is available for anyone who would need the space.
However, according to ICT Davao president attorney Samuel Matunog, aside from this co-working space, the innovation hub will offer great opportunities for growth and business expansion for tech start-ups in Davao City.
Most importantly, these tech start-ups which had undergone basic training and incubation period in their respective universities and campuses, will be given the chance of upgraded training and exposure in the innovation hub.
"We will help them register as a company, meet investors, negotiate their term to their international and national market, and to help them promote their products and services to potential investors," said Matunog.
There will be pitching competitions to help assess the applying tech start-ups to see if they are ready to be in the innovation hub already. The hub will help them augment where the skills are lacking until they would be ready for commercialization.
This is not the first innovation hub as there had been innovation hubs previously established in the country. Matunog said all industries are currently in need of start-ups to help up their game.