Philippine tech start-ups success
By Juan Dela Cruz

Three small Philippine tech firms have broken a seemingly glass ceiling and are getting ready to hit the big time after winning  a pitch competition organized by Silicon Valley investment firm Plug N Play held in Feb, 2010. Now they can take their act to Silicon Valley and get much needed investment funding from venture Capitalists.

The Philippines has long been trailing Asian powerhouses India and China when it comes to technology prowess and exposure. There are just not a lot of super tech-savvy people here, and too little attention given to small tech companies to even attempt to break into the global market. As a result, in this country techies would give their sweat and blood just to get their projects off the ground. Things are changing for the better though.

Silicon Valley based  Plug and Play Tech Center is a community of over 280 technology startup companies in the areas of Web 2.0, software (SaaS), systems, semiconductor and telecomm verticals. Since its inception in January 2006 the center has helped the startups raise in excess of $400 million in venture funding. The start-up companies have created a cumulative value of 2 Billion Dollars.

Plug N Play, headed by Saeed Amidi, held a competition in February between 30 of the best tech start-ups, and things are looking up for 3 Philippines firms who presented the best investment pitches to their panel of international investors. The competition involved a 4-minute "elevator pitch" of their projects and only 3 best were chosen. The prize is a gamut of goods and services needed by every startup. The 3 winners will enjoy 3-months campaign assistance from Plug N Play to find venture capitalists in the US. They will each get ample face time in front of 10 top venture capitalists in the world. Each group will receive mentorship from Plug N Play's client management gurus. They will also get to participate in Plug N Play's EXPO events and learn in their entrepreneurship university.

The winners can't feel happier. Top prize tech firm winner Ayannah won for their money remittance application that not only allows Filipino overseas workers and expatriates to send money but also for paying utility bills and buying miscellaneous gifts. Runner-up Tao Solutions Inc. leveraged their wiki application that provides localized information utilizing their access to several high-traffic websites. Bronze-medal winner Ascendant Technologies Inc pitched their electronic medical records system that promises to improve patient care standards when implemented.

The 3 firms' bosses were extremely happy with their results and they are looking forward to the success of their pet projects once they get the nod of a venture capitalist or an angel investor. They hope that with their hard work and Plug N Play's help, the Philippines can finally catch up with the rest of the world in technology and help inspire other Filipinos to join them in raising the country's tech standards and global business success.

(Tips, comments or suggestions? Email me at 1delacruise at gmail dot com.)