Technology startup incubator and accelerator IdeaSpace Foundation has observed a new investment trend in the Philippines — that of small and medium-size enterprises (SMEs) becoming startup investors.
“If you rate it at the core expertise, I think the white knight, the people that will be in our [portfolio’s] next round of funding is not even large companies or venture capital firms, and not even angel investors. I think it could be small and medium size enterprises that are found or led that will invest in a startup as an extension for the revenue,” Valencia said.
In an interaction with DEALSTREETASIA, Valencia gave further details on the country’s investment climate, updates on IdeaSpace’s startup portfolio, the technology and business gaps worth solving, and also his personal advices to startup founders and investors.
IdeaSpace is the tech incubator and accelerator arm of the MVP Group of Companies founded three years ago and has grown its portfolio to 38 startups. Among its popular ones are SAlt, MobKard, ZipMatch, PinoyTravel, TimeFree, PortfolioMNL, among others.