The Palawan State University has successfully launched a much anticipated project, the Palawan ICT Incubator.
Dr. Maria Josefina Abilay, Regional Director of DOST-MIMAROPA was present to open the event and more importantly, to provide context on what is expected to drive the evolution of Palawan as a critical area for ICT within the region in the near future.
“In light of the ASEAN Integration, with an incubator we can attract more investors. Palawan’s answer to this challenge is to provide a platform and ecosystem for innovation for the establishment of a technology business incubator, wherein ideas can be transformed into products and start-ups can be guided to become full-fledged entrepreneurs,” said Dr. Abilay as she highlighted the important implications of this latest PSU endeavor.
Business incubation is an up-and-coming business strategy that is gradually gaining ground in the economic scene. It is anchored on the principle of the incubator enabling start-up companies to develop their own individual business models that would allow them to practice successfully and independently, effectively becoming fully-fledged entrepreneurs.
One such company that has been in the business of successfully driving start-ups for the past several years is Make A Difference (MAD) a Malaysia based private incubator that has been in practice for the past several years, was represented by its CEO Mr. Andrew Wong.
“Palawan is the next step for our business incubator. It is part of the BIMP-EAGA initiative,” said Mr. Wong, pointing out the relevance of incubation at a time when region specific economic initiatives within the ASEAN are getting heightened attention.
To frame her talking points, Dr. Abilay made specific reference to the 4 Pillars in the ASEAN Economic Community, specifically laid out as: a single market and production base, a highly competitive economic region, a region of equitable economic development, and a region that is fully integrated with the global economy.
“We have plenty of human capital and we have plenty of intelligent people. Their ingenuity, creativity and imagination should be harnessed,” said Dr. Abilay.
Also present in the event were PSU President Dr. Jeter S. Sespeñe, VP for Research and Extension Dr. Michael D. Pido, City Councilor and ICT Committee Chairman Eleutherius Edualino, Mr. Jet Montablan of PICTA and Mr. Elliot Hsu of Taiwan-based Hand Link Corporation.
The designated incubator manager for the PSU TBI is Dr. Hanlie Taha, Director of the PSU Planning Office, who is freshly off a 6 week training on business incubator management.