TRAVEL RESTRICTIONS

EXPERIENCE OUR CULTURE WITH CAUTION

PLAN AHEAD

Before traveling, prepare yourself for the new normal. Make sure to plan ahead and this applies to everyone, be it locals or foreign travelers. Always check the Flatten the Curve website for more information on travel restrictions to the Philippines. Stay informed and purchase essentials such as travel and health insurance from providers such as Safetywing Nomad and Safetywing Remote to protect yourself should there be the unfortunate situation where you’d need to undergo testing and treatment.

THE FAST-GROWING STARTUP ECOSYSTEMS

"Of all the cities in the Philippines, why Manila?" If you are curious to find out, our travel guide provides great insights to answer not only your questions or doubts, but also, providing heaps of essential tips and guides that will serve you with clear strategic direction critical for setting a business in Manila. Ready

to become a successful entrepreneur?

Our team at Draper Startup House Manila is here to support your entrepreneurial journey in what's nicknamed as "The Pearl of the Orient" and giving you the Filipino's renowned brand of hospitality."

WHY MANILA

Manila ranks 36th among the world’s top 100 emerging startup ecosystems, providing opportunities for early-stage startups to scale and go global.

According to the Startup Genome's 2019 Global Startup Ecosystem Report, local fintech transactions amounted to $5.7 billion and are expected to hit $10.5 billion by 2022. It ranks 5th in the activation ecosystem for connectedness, quality of local relationships, as well as in exit growth index. Moreover, Manila was 6th around the world in output growth and 9th in funding growth.

But there’s more! About 7-8% of the economy’s growth is generated from infrastructure projects. Setup and labor costs are also affordable, this is why companies in countries such as Canada, the United States, and Australia have set up offices in Manila, making it one of the global leaders in Business Process Outsourcing. Excited yet?

EASY START

TRAVEL, LIVE AND WORK SMART

Manila for you means: Ease of expansion with other potential businesses and collaborators Fast technological efficiency enabling creative solutions Diversity in human capital

Qualified workers at an affordable costHigh emphasis on building and empowering both global and local startup ecosystem Heighted manpower without compromising cost nor quality

Or, check out the Startup Genome for more information.

VISITING MANILA FOR THE FIRST TIME

The Philippines is a melting pot of cultures. They say Filipinos “party like Latins, do business like Americans, and have the entrepreneurial spirit of Asians!” And we 100% agree! Diversity is innate, but first things first, we need to understand the basics of setting up a business in Manila.

Metro Manila: What people commonly refer to as Manila is actually a metropolis consisting of 16 cities and 1 town. The City of Manila, the country’s capital, is one of those 16 cities. Language: The official languages are Filipino and English.

Currency: The local currency is called Philippine Peso. If you are visiting from outside the country, the best places for currency exchange are at Licensed Money Chargers since the rates are 10-20% lower than banks.

Climate: There are two seasons - dry and rainy. Dry season is from December - May while the rainy season is from June - November.

THE CITY FOR GAME CHANGERS

Payments: Credit cards are widely accepted and mobile payments are gaining traction. Therefore, you can choose from many popular payment gateways such as; Dragonpay,

Paymongo, Ipay88, Paynamics, Pesopay, Bancnet, and mobile wallets such as Gcash, Paymaya, and Coins.ph.

Banks: We suggest following banks; Unionbank, Security Bank, and BDO.

Tax and Legal Partners: When it comes to legal and tax help, it can be tough to find the right partners. It usually takes time to build trust and to know who can provide you with credible information for your business. But here are some of the country’s trusted organizations to help you with your legal concerns and tax filings; Taxumo, LexMeet, and Enter PH.

Startup Visa: The Department of Foreign Affairs in the Philippines (DFA) grants three types of startup visas as follows: Startup Owner Visa

Startup Employee Visa Startup Investor Visa

For foreign owners, you would be required to take an endorsement from a host agency. Then you can get the visa which is valid for 5 years which can be renewed or extended after 3 years. For more details check out here.

PROMINENT STARTUPS IN THE PHILIPPINES

The following Filipino startups will make you proud to be Pinoy!

Revolution Precrafted, is the Philippines’ first unicorn! An exclusive group of the world’s leading architects, artists, and designers who collectively pursue the desire to make high-design attainable for everyone.

Coins.PH, a financial services platform founded in 2014 by Silicon Valley entrepreneurs Ron Hose and Runar Petursson in Metro Manila, Philippines. Coins.ph accepts Bitcoin payments online, from anyone, anywhere- including who don't have access to credit cards or bank accounts.

PayMongo provides you a platform to manage and market your customer base. With a seamless interface you can create campaigns and target them to your customers. The First Filipino startup to be part of the exclusive Y Combinator accelerator program.

KUMU is a popular local live streaming app.

Cashalo, a fintech platform that delivers digital credit to Filipinos – helping them elevate their financial well-being.

Events & Communities

Draper Startup House (DSH) Manila is hosting regular events such as webinars, pitch nights,and artist meet-ups. Check out the DSH Manila socials here Facebook and Instagram for upcoming events.

As for the communities, Techstars, a global accelerator that also supports in building a vibrant startup ecosystem for entrepreneurs around the world, including Manila. Other communities of business, technology, and startup enthusiasts are TechTalks and Startup Grind Manila. Due to COVID, there are no upcoming events by Startup Grind Manila at the moment, but you can always look out for future events.