CDO, an Emerging Powerhouse in the PH Startup Scene

Post by Admin, June 13, 2024

 

In the Philippines, the city of Cagayan de Oro, which is affectionately referred to as the “City of Golden Friendship” by its inhabitants, is fast becoming a significant participant in the ecosystem of startups. As a result of Cagayan de Oro’s remarkable ascent of 47 positions on the 2023 Global Startup Ecosystem Index compiled by StartupBlink, the city has firmly established itself as the third-best startup cluster in the Philippines.

A Thriving Local Startup Community

In spite of the fact that Cagayan de Oro is now ranked 661st in the world, this huge increase in ranking is a reflection of the city’s rapidly developing startup sector. Cagayan de Oro, which has a population of almost half a million people, provides an atmosphere that is encouraging and conducive to collaboration for business owners. Clearly, this is shown by the fact that the sample database of StartupBlink already has twenty-three different firms. Many businesses, including KaHero, Wela School System, Infinitecare Technology, Jobbhy, Mobilegas, Learn at Fligno, MAN Pharma, Shiftech Marine, Brooky, Fella, and Hyperstacks Inc., are among those that have used this technology.

What Makes Cagayan de Oro a Startup Haven?

Cagayan de Oro’s ascent to prominence in the world of startups may be ascribed to a number of causes, including the following:

  • Initiatives of the Government That Are Supportive The municipal government takes an active role in fostering innovation and entrepreneurship via the implementation of various programs and policies.
  • A solid educational system in Cagayan de Oro produces a pool of bright and qualified people, which contributes to the city’s skilled labor force.
  • The cost of living in Cagayan de Oro is significantly cheaper when compared to the cost of living in other major cities in the Philippines, which makes it an appealing site for new businesses to establish themselves.
  • Investors are becoming more interested in the city, which is giving excellent financing options for new businesses. The city is getting the attention of several investors.

The Future is Bright for Cagayan de Oro’s Startups

It is a credit to the city’s growing entrepreneurial spirit that Cagayan de Oro has made such a remarkable leap in the Global Startup Ecosystem Index. Cagayan de Oro is well positioned to become a significant force in the Philippine startup landscape in the years to come because of its encouraging climate, bright workforce, and increased interest from investors.

Looking to Invest or Launch a Startup in Cagayan de Oro?

Cagayan de Oro City is a city that warrants your attention particularly if you are an entrepreneur or an investor looking for a startup environment that is both lively and exciting. Those who are interested in making their mark on the flourishing startup scene of the Philippines will find a multitude of chances available in the city itself.

 

Emmanuel Galleto

Project Manager, Innovuze Solutions Inc.

2024 May Article

Source: https://www.startupblink.com/startup-ecosystem/philippines