The technopreneurship ecosystem in the software segment of the ICT industry in Metro Manila

Software technological ventures are emerging in Metro Manila, Philippines. However, little to no literature has been made to document their growth and the development of their support environment. This study is a pioneering research in documenting the current state of the technopreneurship ecosystem of the ICT software segment in Metro Manila. In an emerging economy like the Philippines (Larano, 2013), this study proves to be relevant, timely and nationally significant. The Domains of the Entrepreneurship Ecosystem framework (2011) developed by Dr. Daniel Isenberg from Babson University is used to document the ecosystem. The framework presents six domains namely: finance, markets, policies, human capital, supports and culture. In gathering data, in-depth interviews with key players from the six domains and a survey with 70software technopreneurs were conducted. Furthermore, this study presents each domains drivers and barriers that were consequently used as basis in creating recommendations to further support the growth of the technopreneurship ecosystem in Metro Manila. Findings show that the typical Filipino technopreneur appears to be male, aged 26 to 32, married, and has finished a college degree in the Philippines. His desire to solve a problem motivated him to create a technological venture, followed by his desire to earn profit and to change the world. In addition, his personal savings and contributions from family and friends helped him gather initial capital to start his venture. Most of them are still in the validation stage while most products of these technological ventures are web-based and mobile-based. Findings show that the technopreneurship ecosystem is still weak yet emerging - relative to other technopreneurship regions. Its strengths are the growing local and foreign market, the competence of Filipino software developers, the availability of physical infrastructure, the emergence of funding options and the emergence of support groups and support events. On the other hand, their weaknesses are the academe lack of support for technopreneurship, the lack of venture friendly legislation, the difficulty in doing business, risk affinity and the inability of Filipinos to accept failure and criticisms, the lack of support from mass media, and the incompetent Internet connection infrastructure in the country. The recommendations given by the research group include the strict compliance to the National Competitiveness Councils Gameplan in improving doing business in the country, the creation of a technopreneurship task force, the collaboration between DOST Filipinnovation program and mass media, the creation of corporation-supported incubators, the collaboration between incubators and local law and accounting firms, the creation of university-based incubators, the collaboration between CHED and the Philippine Software Industry Association and further research in specific topics that could also significantly benefit the technopreneurship ecosystem in Metro Manila