Venture capital accelerator firm Brinc recently signed a Memorandum of Understanding (MOU) with National Development Company (NDC), the Philippines’ leading state-owned enterprise investing in diverse industries.
The strategic partnership is poised to generate fresh avenues for technological and entrepreneurial advancement in the Philippines, echoing Brinc’s commitment to growing the progress of visionary entrepreneurs. It also underscores Brinc’s pivotal role in driving constructive transformation within emerging markets.
Founded in 2014 and headquartered in Hong Kong, Brinc has accelerated startups all over the world focusing on blockchain technology, artificial intelligence, connected hardware, robotics, climate tech, clean energy, food technology, and Internet of Things (IoT) technology. The firm’s accelerator programs are customized to furnish founders with essential support, curriculum, and mentorship aimed at fostering their success. Brinc has so far invested in 239 companies hailing from over 36 countries, with accelerator programs specifically targeting sectors such as artificial intelligence and climate tech.
Brinc also prioritizes working with governments to establish startup ecosystems capable of driving innovation and economic growth. Just last year, Brinc partnered with Singaporean government agency Enterprise Singapore to help Singapore-based food technology startups enter the mainland China market.
The partnership with Brinc fits in with NDC’s mission to develop, finance, and implement projects driving economic development. Since its establishment in 1919, NDC has played a pivotal part in the establishment of numerous industry-leading companies. Among these are Philippine Airlines, Philippine Electrical Manufacturing Company, National Power Corporation, Philippine Communication Satellite, Philippine National Lines, Manila Gas Corporation, National Housing Authority, Philippine Packing Corporation, and Dole Philippines.
“This alliance signifies a remarkable leap forward in innovation. Having Brinc on board as our knowledge partner opens up a world of possibilities,” states Jerahmeel Chen, Chief Innovation Officer at NDC. “We’re excited to facilitate access for Philippine startups to valuable resources and funding opportunities via Brinc’s extensive network. Additionally, this creates an avenue for the Philippine Innovation Hub to achieve the planned expansion in two strategic locations: Hong Kong and Dubai.”