Philippines Market Dive (Macros, Fintech, & Founders Outside Manila), Positives (Demand, Culture, Language) vs. Improvements (Talent Gap, Education, Food Security) Thanks To Foxmont Capital Partners & BCG - E265

"I fear brain drain. If you aren't optimistic about your country in the long term and want to move somewhere else, it creates a net outflow of talent that makes it hard for the ecosystem to build. There are very few countries in the world that actually have a net outflow. To have it continuously for so many years, especially when there's no war or push factor, is quite an interesting dynamic. This drives the FinTech sector. There's a self-perpetuating cycle here, where nobody wants to upset this flow. But from a tech ecosystem standpoint, there's so much more to build in the Philippines." - Jeremy Au

"I see a lot of my founders asking for support specifically for product manager and growth lead talents. We lack that a little bit because tech giants are all regional. So a lot of the positions are actually Singapore-based compared to being Manila-based, which is a bit of a lacking cohort of product managers and senior growth lead talents that some of our startups need, especially at Series B stages. I think that's the biggest gap." - Mark Sng

In this episode of the BRAVE, Jeremy Au, Mark Sng, and Shiyan Koh discussed the Philippines' current state and potential in terms of technology and startups. The conversation revolved around the country's young population, its highly skilled and English-speaking workforce, and its growing FinTech sector. The hosts also talked about the challenges faced by the Philippines, such as brain drain due to the lack of optimism about the country's long-term prospects. They also noted the fragmented nature of the country, with numerous islands and logistical challenges, as well as the effects of inflation on the economy. Despite these challenges, the hosts expressed optimism about the Philippines' potential for growth and innovation, citing the strong alumni networks of companies such as Rocket Internet and the country's openness to foreign businesses.

The hosts also highlighted various startups in the country, such as Locad, which offers software-driven, flexible solutions to e-commerce fulfillment and logistics, and Shipmates, a courier platform for e-commerce. They also mentioned the Philippines' burgeoning improv comedy scene, which speaks to the country's openness to new ideas and cultural influences. Overall, the hosts concluded that while the Philippines faces significant challenges, such as brain drain and logistical obstacles, it has the potential to be a major player in the global startup ecosystem, thanks to its young population, skilled workforce, and openness to innovation.

Read the transcript at https://www.bravesea.com/blog/philippines-market-dive

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