THE Implementing Rules and Regulations (IRR) of the “Innovative Start Up Act,” which aims to “strengthen, promote, and develop” the country’s startup ecosystem, was signed on Friday during the Philippine Startup Week (PHSW19) in Quezon City.
This development made it easy for “investors to see potential in the country,” said Trade secretary Ramon Lopez said in a statement.
“Events like these will enable the Philippines to become home to world-class startups,” said Lopez who was at the signing ceremony.
Signed by President Rodrigo Duterte on April 26, Republic Act No. 11337 offers “programs, benefits, and incentives” to startups and enablers.
PHSW19 is a “multi-city, simultaneous gathering of the Filipino startup community which aims to solidify their commitment to raise the level of the industry.”
Startups in other areas including Albay, Bohol, Butuan, Pampanga, Baguio, Iloilo, Cagayan, Davao, Dumaguete, and Laguna held simultaneous activities which highlighted the growth of the industry and its potential in the future. (GMA News)
