Angel investors, individuals who provide funding to early-stage businesses, are critical to the success of startups.
One of the largest and most active angel investors in the Philippines and Southeast Asia is the Manila Angel Investors Network (MAIN). Having reviewed over 100 members, 20 portfolio companies, and 500 startups, his vision for MAIN is to impact the Philippines “by fostering investment in startups and advocating for a startup-friendly business environment.” It’s about giving.
At Block Dojo Philippines Investor Night, CoinGeek Backstage interviewed Joseph De Leon, MAIN’s founding member and lead investor, to discuss what the organization does, its criteria for investing in startups, and its outlook on emerging technologies.
Unlike other angel networks around the world, MAIN works with developing markets. They are prioritizing startups that already have MVPs and paying clients, De Leon said.
Coin Geek backstage.
“What we’re looking for is making sure we’re investing in startups that are solving real problems. It’s a big enough problem that it’s worth our time and that we’re making changes. Another important factor is that working in a startup is difficult, so you have to find founders who you think have the drive to see it through. Over 90% of startups fail. So we’re looking for founders who have what it takes to succeed to the end,” he added.
Regarding the feedback on the companies led by Block Dojo Philippines Cohort 1, de Leon said, “We are cautiously optimistic about one of them.” He declined to say which startups he was interested in, but said they all tackle some big problems, some of which have already been solved, and could capture the market. Ta.
What is MAIN’s stance on emerging technologies? De Leon said they are always on the lookout for innovations across the country. However, this does not change the reality that most startups may not have breakthrough technology built in-house.
“Another thing that’s opening up is that the Philippines could take a big step because some of this technology is so new. So, for example, in the area of AI, the biggest gap in AI One of them is the lack of human resources,” he said.
“There is a wealth of talent in the Philippines. There are several industries that have access to talent that could be further leveraged…I am currently working to help develop venture builders who can leverage and upskill talent within the BPO industry. We’re talking to a lot of different people in the AI space. And maybe, just maybe, we’re going to be ahead of the curve and beat the rest of the world as well,” de Leon added.
Apart from its AI efforts, Block Dojo Philippines has achieved an important milestone in the Philippine startup ecosystem by incorporating blockchain technology into the process of early-stage startups.
In March, the first group of Block Dojo Philippines held an Investor’s Night to pitch projects aimed at solving some of the country’s key problems. If you want to know more about Block Dojo Philippines Cohort 1, check out our previous article here.
For artificial intelligence (AI) to function properly within the law and succeed in the face of growing challenges, it must integrate enterprise blockchain systems that ensure the quality and ownership of data input. This makes it possible to ensure data security while also guaranteeing immutability. of data. To learn more about why enterprise blockchain is the backbone of AI, check out CoinGeek’s coverage of this emerging technology.
Video: Block Dojo boosts blockchain for Filipino startups
New to blockchain? Check out CoinGeek’s Blockchain for Beginners section. This is the ultimate resource guide to learn more about blockchain technology.
