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| TechUp Tuesdays: How to Build a Startup Nation |
Israel has been tagged as the Startup Nation. Known as the Innovation Capital of the World, it has the highest number of startups per capita and the second highest number of registered patents per capita. In fact, according to World Bank, Israel spends 4.27% of their GDP on research and development – the highest in the world. In addition, almost every Forbes 500 company has an R&D team based in Israel, proving that it has trustworthy research and development industry.
With that, tech communities of the Philippines and Israel inked its partnership, which was principally led by the Israeli Chamber of Commerce in the Philippines and the Blockchain Association of the Philippines.
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"We have a tendency to play in our own sandbox and test and learn by ourselves. But we know that blockchain and other technology is moving very quickly and we need more innovation rather than less. We need to encourage the community to learn from the best practices happening in other countries and industry players and take inspiration from that," Justo Aboitiz, President of the Blockchain Association Philippines and Chairman of UnionBank, addressed.
The event discussed how quickly blockchain grows in the country,, and how Filipinos have a chance to be leaders in this field. It also explained how the community is formalizing and coordinating with the SEC and other regulators for the guidelines of this evolving economic financial tool.