- Security Bank, DTI, and regional partners collaborate to boost cross-border growth for Philippine startups.
- Partnership facilitates business matching, trade missions, and access to ASEAN and Japan markets for startups.
- Strategic networks and innovation programs aim to help Filipino startups scale globally with commercial prospects.
Security Bank Corporation together with the Philippines Department of Trade and Industry (DTI) and multiple local banks have established a memorandum of understanding (MOU) to develop new market entry pathways for Philippine startups and medium-sized businesses to access ASEAN and Japanese markets.
The alliance unites banks with innovation partners such as MUFG Bank Ltd. and MUFG Innovation Partners Co., Ltd. and Krungsri Finnovate Company Limited (Bank of Ayudhya) and Krungsri Finnovate to establish better international partnerships which will help startups grow throughout the region.
The agreement creates organized pathways which enable Filipino innovators to obtain business matching services and exchange programs and trade missions and additional activities which support their market entrance efforts.
The collaboration focuses on establishing links between startups and strategic partners and corporate clients and industry networks throughout Southeast Asia and Japan instead of using funding rounds as its primary goal.
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Security Bank uses its extensive corporate connections in the Philippines while MUFG uses its broad international network and Krungsri shares its expertise in business-matching systems and ASEAN market development.
The partnership receives its foundation from DTI which provides policy assistance to support the initiative that works toward achieving the Philippines' national innovation objectives through Startup Pilipinas and Tatak Pinoy strategy programs that help local startups become internationally competitive.
The first activity under this framework will begin with participation in the Japan-ASEAN Startup Business Matching Fair which takes place in Bangkok.
The Philippine startup companies will use this event to present their business proposals to various corporate partners and buyers and ecosystem participants. Organisers believe this approach will help transform innovative ideas into commercially viable ventures which will drive economic growth through increased global startup engagement.