917Ventures established six startups to support micro, small, and medium enterprises in their digital transformation efforts.
The Philippine government has made the digitalization of micro, small, and medium enterprises (MSMEs) a top priority to prod the growth of the Philippine economy. In the 2023- 2028 Philippine Development Growth Plan, the National Economic Development Authority (NEDA) emphasized the need to give targeted reinforcement to MSMEs in fast- tracking technology adoption, digitalization, and automation, to lead to high productivity and major innovation.
“One of the most important things we learned in the past few years–and especially for MSMEs– is the importance of digitalization. It not only helps businesses keep up with the times but also ensures that they’re growing at pace with the digital economy,” said Natasha Bautista, 917Ventures’ Head of Growth and Programs.
“There is still a lot of room for growth when it comes to increasing digitalization in the Philippines. In contrast to countries in the region, the Philippines’ digital economy currently accounts for just 9.4% of our gross domestic product, whereas Vietnam stands at 14.26%, and Malaysia at 14%,” continued Bautista.
917Ventures, the largest venture builder in the Philippines, supports MSMEs by furnishing them with the instruments that they require at every stage of their journey so they can turn into digital-first firms and assure that they score long- term success and sustainability.
“Whether it’s providing them with initial capital, helping them get started online, or guiding their expansion to reach a wider audience, our comprehensive suite of solutions provides them with end-to-end support to take them where they want to go,” she added. “We have, to date, been able to support more than 10,000 MSMEs across our ventures and portfolio companies and we hope to expand our solutions to the 1 million MSMEs in the Philippines and help them with digitally transforming their businesses.”
Unlocking Capital with FundSpace
For entrepreneurs who desire to get started or scale up but lack the funds to do so, there is FundSpace, a loan platform offering financing options that cater to every business’ needs. On FundSpace, businesses of all sizes can loan for as little as ₱50,000 up to ₱100 million.
“Securing capital is often one of the biggest hurdles to starting a business, which is why we created FundSpace–an easy and convenient platform where businesses can get the funds they need at low and flexible interest rates. Through FundSpace, they get cash quickly with its processing time that’s 12 times faster and disbursement that is eight times quicker than usual methods,” Bautista explained.
Upskilling to Streamline Operations with KodeGo and MemoApp
As businesses expand, it’s vital to improve skills and streamline operations. Enter KodeGo, more than just a coding boot camp, to equip businesses with the knowledge and skills to thrive in a digital world. Beyond traditional coding, KodeGo offers numerous digital courses for firms looking to scale and optimize their processes. These courses cover many essential skills, including full-stack web development, virtual assistance, bookkeeping, and artificial intelligence.
For streamlining processes, MemoApp digitizes previously manual and paper-based processes to make them more intuitive, accessible, and efficient. With its quick workflow approval system, integrated e-signature feature, and easy access to fundamental document templates, MemoApp simplifies how enterprises handle their operations.
Getting Started Online Through RUSH
For businesses wanting to embrace digitalization, the initial step is to get the business online. RUSH is an all-in-one eCommerce platform that takes care of the whole purchase process – from discovery to delivery – letting merchants to easily launch, manage, and scale their online stores.
RUSH allows sellers to create their e-commerce platform, their mobile app, and access to the GCash GLife Marketplace. It also offers an end-to-end loyalty management platform so firms can continue to thrill their customers by creating relevant and rewarding experiences.
Accessing a Wider Audience Through m360 and Inquiro
Once businesses have established their online presence, they must strategically connect with their target audience and usher them to the point of purchase. To achieve this, companies can harness the power of m360‘s inventive multi-platform messaging solutions. These comprehensive tools enable businesses to effectively inform and engage their customers through a seamless mix of SMS and social media channels.
m360’s multi-platform messaging solutions are key to bringing vital information, timely updates, and alluring promotions to customers. By reaching customers where they are most active, businesses can nurture stronger connections and drive higher conversion rates.
Moreover, understanding customer behavior and preferences is utmost for the success of any marketing campaign. Inquiro’s data-driven solutions are an array of services designed to give deep insights into the current customer base and target audience. More than just analytics, Inquiro’s solutions permits businesses to comprehend their existing customer demographics and tap opportunities by revealing potential audiences beyond their current reach. Inquiro also provides Credibility Scoring that helps businesses examine the risk profile of customers by automating credit-related decision-making.
“Digitalization is not a destination; it’s a journey. It’s not just about going online; it’s about embracing processes that enable businesses to not only exist in the digital realm but thrive, compete, and innovate within it. That’s what we provide with 917Ventures–an MSME ecosystem that will handhold you through every step of every business’ digital journey,” Bautista added.
