Redefining Growth: The Philippine Startup Ecosystem's Journey Towards Sustainability ♻
In 2023, the Philippine startup ecosystem faced a significant shift. Total fundraising saw a 60% decline, and average deal sizes shrank by a stark 71.5% amidst challenging market conditions and a more cautious investor landscape. Despite these hurdles, our startups showed remarkable resilience, pivoting strategies to navigate the so-called "funding winter."
Startups have wisely tightened their belts, focusing on cash conservation, business model refinement, and securing bridge rounds to extend their operational runway. This strategic pivot is not just about survival; it's about building a foundation for sustainable growth.
Interestingly, while funding and deal sizes dipped, the number of deals in the Philippines rose by 55% in 2023, setting a new record. This surge is driven by an increase in bridge rounds, government grants, and a keen focus on seed and early-stage investments. While growth-stage deals faced a downturn, the enthusiasm for nurturing innovative, sustainable business ideas has never been higher.
This evolving landscape highlights a pivotal shift in investor priorities, with a growing emphasis on startups that promise sustainable growth rather than mere rapid expansion. The message is clear: resilience, adaptability, and sustainable planning are the keys to thriving in the current #ecosystem.
Our startup community—founders, enablers, and investors—is rallying around this new paradigm, championing sustainable growth and long-term viability over fleeting spikes in growth.
Want to learn more about the Philippine startup ecosystem? #Download our updated Philippine Startup Ecosystem Report here: https://lnkd.in/g42qnw75
#GobiCorePH #GobiPartners #Innovation #VentureCapital #PhilippineStartupWeek #Philippines #StartupEcosystemReport
Innovation Consultant | Vision Caster
10mo100% agree. Latvia needs to get into the game. Some universities are on board with this already...some are living in the stone age...but it starts even before university, or it COULD. I want to see Latvia become a powerhouse. 👨🚀