Australian tech innovation finds warm welcome in the Philippines

Anticipation was high as 23 Australian technology companies landed in the Philippines to explore opportunities in the country’s dynamic digital economy. 

The delegation was part of Austrade’s Southeast Asia Business Exchange Technology Innovation mission to the Philippines in late February. The mission was co-designed with key industry partners in the Philippines including the Fintech Alliance, Women in Security Alliance, the Cybersecurity Council of the Philippines, and the Blockchain Council of the Philippines.

The Philippines is primed for digital exports. The country’s digital economy is valued at A$56 billion, contributing 8.4% to its GDP. Half of its population is under 25 years of age, and 87 million users have access to the internet. Now is the time to engage with the Philippines’ young, tech-savvy population and thriving service-based economy.

Led by Austrade’s General Manager for Southeast Asia Mukund Narayanamurti, the mission focused on opening doors for Australian cybersecurity, artificial intelligence, fintech and blockchain companies.   

‘One of the mission’s key aims was to raise awareness,’ says Narayanamurti. ‘This mission not only highlighted digital technology opportunities in the Philippines, it also showcased the value proposition of Australia’s tech sector.’

Getting to know the Philippines tech ecosystem 

Concurrent site visits and customer immersion gave delegates a deeper understanding of the Philippines’ rapidly growing tech industry and regulatory landscape.

The program included:

• video messages from Australia’s Business Champion to the Philippines, Shemara Wikramanayake, Australia’s Cyber and Critical Technologies Ambassador, Brendan Dowling, and briefings from Austrade and the Department of Foreign Affairs and Trade on the Philippine economy
• interactive presentations from key decision-makers in the Philippine Government such as the Department of Information and Communications Technology, the Board of Investments, the Cyber Battalion of the Army and Banko Sentral ng Pilipinas (Central Bank)
• pitching sessions and sector-based site visits (cybersecurity, AI, fintech and blockchain)
• targeted business-matching meetings attended by over 80 customers
• a networking reception at the Ambassador’s residence with C-level Filipino customers. 

The mission concluded at the Canva office in Manila, where delegates had exclusive access to key success stories. The Philippines was the first place outside of Australia that Canva put down roots. Its initial team of 7 has grown to 1,000 in 10 years.

Another highlight was hearing from Ezypay CEO James Foster, who spoke about their recent partnership with GCash, the leading digital wallet provider in the Philippines. Read Ezypay’s case study.

Foundations strengthened through partnership

The Philippines is making significant strides towards a fully digital economy, and it sees Australia as one of its key partners in this journey. Memorandums of understanding such as the one between Austrade and Fintech Alliance Philippines underscore deep-rooted engagement that will continue to complement opportunities for Australian tech expanding into the market.