With a population of nearly 100 million spread across more than 7,000 islands, the Philippines is the seventh most populous country in Asia and one of the most diverse. While the Philippine economy has grown at an average of 6% since 2012, according to the World Bank, over 20% of the population still lives in poverty. Supporting high-impact entrepreneurship in the country offers a critical opportunity to fuel economic growth at all levels. With an estimated 99% of Philippine enterprises considered small- or medium-sized businesses, many are facing the crucial scale-up stage that determines whether or not they can grow into impactful businesses that create thousands of jobs. Endeavor research found that just 5% of the country’s total number of firms are considered high-growth (with a minimum of 20% average annual growth), but created 75% of the net new jobs in the country.

The landscape of entrepreneurship in the Philippines continues to show much promise. The Global Entrepreneurship Monitor found that nearly half (48%) of all Filipinos have a very positive view of the entrepreneurial opportunities in their country; furthermore, 68% believe they have the capabilities needed to start a business. At the same time, many recognize the barriers to entrepreneurial development in the country, including a lack of access to financial support, government programming and guidance from role models.

This is where Endeavor’s model can make a difference. Established in 2015, Endeavor Philippines aims to build a strong entrepreneurial ecosystem in the country through High-Impact Entrepreneurship. We select and support entrepreneurs who will build great companies and serve as role models for the Philippine’s future generations by providing them with access to best-in class tools, knowledge and networks to help them scale-up.

The Philippine office is well on its way, with a pipeline of diverse entrepreneurs, a strong portfolio of mentors and board of directors who provide financial and strategic support, and a dynamic team of committed individuals ready to serve at the forefront of the country’s growing entrepreneurship space.