Features and Benefits of Innovative Startup Act

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The Business Class

Jeff of WB Training Consultancy

26 episodes

4 days ago

A podcast that explains and integrates business and culture. Hosted by Jeff, an entrepreneur and educator since 2001. Visit our website: www.businessclasstalks.com Join our FB group for discussion: https://www.facebook.com/groups/businessclasspodcast

Entrepreneurship

Business

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Entrepreneurship

Business

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Features and Benefits of Innovative Startup Act

The Business Class

7 minutes 49 seconds

4 years ago

Features and Benefits of Innovative Startup Act

In a survey commissioned by Linkedin in 2018, the results say that many Filipinos express their desire in entrepreneurial pursuits, but 46% said that their main barrier is their financial status followed by fear of failure. Economic progress according to Joseph Schumpeter are because of 2 factors: innovation and capitalists. If Filipinos remain to have these barriers, then it will be hard for the Philippines to have economic progress. But now, Filipinos without financial capacity, who wish to start an innovative business, may do so. This is because of Republic Act 11337,

The Philippine government has finally recognized the importance of innovation in driving national competitiveness. In April 2019, the President has signed the Innovative Startup Act, a law providing benefits and programs to strengthen, promote and develop the Philippine Startup Ecosystem. So, if you are an entrepreneur who has an innovative idea, this maybe the break you have been waiting for. In this podcast I will discuss the features and benefits of this act and hopefully by the end of the podcast, you will have greater desire to pursue your startup idea.