The city of Cebu is home to a thriving innovation ecosystem, but many promising app startup ideas fail to take off due to lack of follow-through, mentorship, and funding support. Despite the abundance of creativity and technological know-how among students and young professionals, many projects never leave the prototype stage.
Grit and perseverance are essential for overcoming the inevitable setbacks that come with starting a new venture. "You will experience adversity in every startup journey," says Mark Ynoc, president of the Mandaue Chamber of Commerce and Industry. "You need the passion and grit to pick yourself up after every failure."
One major hurdle facing young innovators is the lack of seed funding and structured support for their projects. Neil Basabe, dean of the College of Computer Studies at the University of Cebu, notes that even student teams that win national competitions often fail to sustain their work due to a lack of follow-up funding.
Funding and Mentorship Key to Success
The Philippine Startup Development Program under the Startup Act aims to address this gap by providing grants for innovative ideas. However, funding alone is not enough – mentorship plays a critical role in turning an app startup idea into a successful business venture. As Department of Information and Communications Technology (DICT) Central Visayas Director Frederick Amores notes, "Beyond grants, we also need mentorship... The technology might be great, but the business case may not be strong."
Overcoming Corporate Resistance
Corporations often resist new ideas due to risk aversion, which can be a major obstacle for young innovators. According to Kim Getgen, a Silicon Valley-based founder of Innovation Force and global innovation mentor, "Good ideas often fail not for lack of creativity but because of corporate resistance to risk." To overcome this hurdle, innovators must be willing to collaborate across ecosystems and use design thinking.
Staying Open to Guidance
Young Cebuanos can learn from the experiences of successful entrepreneurs by staying open to guidance and valuing mentors who dedicate time to making them better. As Getgen notes, "Cebu has a unique advantage over more mature tech ecosystems – it has a strong sense of compassion and resilience." With the right mindset and support, Cebu's innovation ecosystem can thrive.
Validating App Startup Ideas
Before starting an app startup idea, innovators should validate their concept with real users. As investor April Presillas advises, "Talk to your potential users before you submit your entry. Ask if they would use your product." By refining their ideas through continuous iteration and improvement, young innovators can turn their app startup ideas into successful businesses.
By combining perseverance, mentorship, and sustained funding, Cebu's innovation ecosystem can overcome the challenges faced by young innovators and bring new app startup ideas to life.