If you have a million-dollar idea for a software company, now is the time to get it started, according to the Philippine Software Industry Association (PSIA).
There are 300 software startups in the country at the moment, yet the public and private funds available to be used for these are so much more, said Joey Gurango, PSIA President, during a media briefing at the SOFTCON.PH conference, Thursday.
“There's probably more investment money out there than there are investible software companies. There's more money that can be deployed because ang kulang talaga dito is we don't have enough software startups for them to invest in,” he said.
The Philippines is still the leader in the voice business process outsourcing (BPO) sector, according to Gurango, but is only close second or third next to India when it comes to export revenues from software engineering services from the IT-BPO industry.
Making and selling Pinoy software
In order to “encourage, nurture, educate, and support” aspiring Filipino software entrepreneurs, PSIA started SPRING.PH (Software PRoducts Incubation Group) to help build and sell software products to the world.
“We (PSIA) are fostering a new generation of Filipino software entrepreneurs by helping support them in their aspirations to eventually become the next Facebook or the next Google or even the next Angry Birds that is based in the Philippines,” Gurango said.
Its goal is to have 50 product teams trained and supported by 2016, with at least 10 software products generating one million US dollars in annual revenues.
Every quarter of the year, PSIA conducts an event called Launchpad where aspiring candidates pitch their business models and product ideas to a jury. About 15 to 20 groups present to them, to which only half are chosen to be mentored by a group of coaches.
“We provide an access to knowledge, to networks, to contacts, to funding, access to experience that most business people would never have access to; or if they do it will cost them a lot of money.”
Teams on board
There are 14 product teams already on board, and PSIA aims to increase this number to 20 by the end of the year. All these teams presented their software products in an exhibit during SOFTCON.PH.
One of them is Tom Taps, a mobile app that contains activities and tools that aid and help encourage learning for children with special needs.
It contains a communication tool where a child can choose picture cards that say what he or she means to say. It also has a scheduler board, a theraputic tool, and a set of learning games.
Another is WaitLifter, a virtual queueing system that allows people to be wherever they want while waiting for their turn instead of staying in long queues.
Right now, the product is being tested in doctors' private clinics in a town near Gen. Santos City and in Makati Med in Metro Manila, said software developer Benjamin Jiao.
"Our main goal for this phase is just to get as much feedback as we can from the doctors as well as the patients and refine the app before we sell it," he said.
The hospital secretary only needs to enter the patient's name and mobile number into the system. The system then sends an automated SMS notification to the customer as his turn nears.
The system is also capable of estimating how long a certain appointment lasts based on its historical data.
“You could think (that we're making competitors) but the truth is, the market is so big. It's like saying you have the ocean and I'm not going to allow you to get any more water out of it because baka maubusan ako. The opportunity is so big, not just in the Philippines but globally,” said Gurango.
“The whole idea of a start up is to come up with something new. We're looking for new ideas: something that's disruptive, something that would change the landscape. Because the more disruptive it is, the better chance of its success.”
The next Launchpad event will be held on November 7 at the Asian Institute of Management. — TJD, GMA News
source: gmanetwork.com
