The Philippines startup ecosystem is about to get the recognition that it deserves, which will ultimately open the potential to further the nation’s digital transformation,
with the launch of the incubator program Block Dojo Philippines.
The 12-week incubator program, powered by nChain, aims to support early-stage entrepreneurs and give them a platform to showcase and improve their services, get funding from venture capitalists (VCs), and explore what blockchain technology has to offer.
Speaking to CoinGeek Backstage on the sidelines of the Block Dojo Philippines launch in August, Block Dojo Executive Chairman James Marchant said it was Stefan Matthews‘ commitment to support the Philippines’ growth that pushed Block Dojo to bring the initiative to the country.
Marchant hopes that Block Dojo will be able to replicate what it successfully achieved in the United Kingdom.
“Block Dojo, being a subsidiary of nChain, we’re great to be able to…set up this type of incubator program to really help entrepreneurs in the country, to leverage our expertise [that] we’ve been building back in London,” he said.
Since January 2022, Block Dojo has incubated 41 companies, of which 90% remain operational to this day.
Following the launch on August 8, Block Dojo pooled early-stage startups to join the program, which is set to kick off on January 8 in the province of Bataan.
In a separate interview, Block Dojo co-founder Alexander Ball said they are eyeing to incubate eight to 10 entrepreneurs every three months and support them in developing solutions that would not only enable them to make money but create real impact.
Block Dojo aims to launch at least 30 ventures in 2024.
While Block Dojo typically offers its aid to early-stage firms, Ball noted that the program remains open to established firms that need additional support in improving their businesses.
“The startups might already have a prototype, or they might already have some traction, but if they want to look at implementing blockchain and utilizing that, that’s where we can see slightly later stage companies, but a lot of the companies we work with are really early stage,” Ball noted.
Since the launch, Block Dojo has been actively looking for the right people who will work on the ground when the program starts, noting that they prefer to have Filipinos onboard as they know more about the people and the culture than non-natives.
“We’re really going to be focusing on working with Filipino entrepreneurs, solving Filipino problems,” said Ball, adding that Block Dojo is also on the lookout for a new office in the Philippines for this initiative.
Watch Block Dojo Philippines: Pushing startup boundaries to create solutions
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