Consumer goods giant Procter & Gamble (P&G) Philippines has partnered with QBO Innovation, a leading Philippine startup accelerator, to launch vGrow SHOWQASE, an open innovation program aimed at empowering Filipino startups.
vGrow SHOWQASE is an extension of P&G’s global vGrow program, which has successfully fostered innovation and collaboration with startups in multiple countries, including India, Singapore, Malaysia, Australia, and New Zealand. The program connects startups with P&G’s resources and expertise to co-create solutions that address consumer needs and business challenges.
The inaugural vGrow SHOWQASE brought together 18 high-potential startups from various industries, including human resources, logistics, marketing, and customer service. Participating startups gained valuable exposure to P&G executives, received mentorship from industry experts, and potentially forged business partnerships with a global leader.
Participating companies included Amplify, Betterteem, Chamni’s Eye, CognitiveAI, DHL, Happy Benefits, LOCAD, Maya, MASA Inc., Margarrett Enterprises Inc., MobileOptima-Tarkie, Ninja Van, Pickaroo, POLKA.PH, Shuttlerock, Storewise, and Xeleqt AI. These startups presented their innovative solutions to P&G executives, with CognitiveAI, Betterteem, and DHL receiving special awards.
“We are excited to partner with QBO and all these companies to uncover innovative solutions to P&G’s biggest opportunities and toughest problems,” said Agraj Sharma, P&G Philippines General Manager. “This will enable us to serve more consumers with superior, value-creating brand experiences.”
Created in 2016 through a partnership with Ideaspace, J.P. Morgan, the Department of Science and Technology (DOST), and the Department of Trade and Industry (DTI), QBO has been an active player in creating a globally competitive tech startup ecosystem in the Philippines. This partnership leverages Ideaspace’s expertise in the startup ecosystem to identify and support promising businesses.
During the vGrow SHOWQASE launch event, Ideaspace | QBO Innovation Executive Director Jay Fajardo highlighted that the country’s startup ecosystem is poised to thrive in the growing digital economy, which was valued at $6.45 billion in 2023 and is expected to grow to $35 billion by 2025.
“The COVID-19 pandemic has led to a surge in tech-savvy consumers, “ said Jay Fajardo, Executive Director of Ideaspace | QBO Innovation. “With about 73% of the country’s population, or approximately 118 million Filipinos, whose average age is 25, the market is now more technologically inclined, presenting a significant opportunity for Filipino startups and businesses to maximize and explore.”
“While we need corporate support for startups, companies also stand to benefit greatly from this collaboration,” added Rene “Butch” Meily, Ideaspace | QBO Innovation President.