By Caesar Vallejos
Eagle News Service online correspondent
(Eagle News) — “The best ideas and the most innovative solutions to the problems that we face today may come from the smallest enterprises,” President Benigno S. Aquino III, the APEC 2015 Chair said as he showcased the potential of micro, small, and medium-sized enterprises (MSMEs) in the global stage at the APEC SME Summit 2015 held at the Green Sun, Makati City last November 17, 2015.
APEC SME Summit 2015 assembled a powerful gathering of speakers who have reached the boundaries in introducing innovation and disruptive technologies and solutions that address business needs and consumer demands all over the world.
Sharing of inspiring stories of success, innovation insights and experiences by renowned business leaders and experts; and an exhibition of game-changing and disruptive solutions successfully displayed the forum’s commitment to focus on MSMEs for the first time.
APEC Advisory Board (ABAC) Chairman Doris Magsaysay-Ho admits that despite the unprecedented growth in international trade, there is still a widening gap between those who have and those who have less.
“With the theme ‘Resilient, Inclusive Growth: A Fair Deal For All,’ we want to send the message that growth matters to all types of businesses, from small to big. Inclusive and sustainable growth means that MSMEs and start-ups are given the same opportunities and benefits,” Ho explained.
APEC’s focus on economic integration is to help remove barriers across the border, at the border and behind the border” Ho added.
Innovation that responds to new consumer demands
The talk of AirAsia CEO Tony Fernandes on “Response to New Consumer Demands” was tested immediately at the Q&A when a delegate raised his horrible experience with the airline and not getting the right customer service response. “Complaints are free market research,” Fernandes quipped. Declaring himself as a fan, the ‘complainant’ was promised instantaneously with free tickets for two bound for Cebu.
Fernandes revealed his 2016 roadmap in the Philippines and that is to be the most loved airline in the country. He stands firm that “the shining light of the ASEAN is the Philippines.”
President Barack Obama’s former senior adviser David Plouffe who now sits as Uber Chief Advisor shared the strategic and innovative thinking behind the disruptive ride-sharing company.
“The Philippines is the first country in the world to embrace a ride-sharing regulation,” Plouffe announced.
The order is an example of a collaboration between government and industry in advancing urban mobility, creating new economic opportunity and rider safety. The groundbreaking approach also recognizes that innovative technologies can upgrade the Philippine transport system.
Innovative ideas come at the crossroads of megatrends that drive new consumer demands. Some of these megatrends according to Asia Society President and CEO Josette Sheeran include the rise of self-empowerment or self-help, the rise of connectivity and the rise of cities. Citing a study made in 2014 that listed the next global hubs for innovation topped by Jakarta, she said that “Manila is predicted to be the next great global city at the center of innovation.”
With the rise of connectivity, Sheeran also said that the Philippines may produce the next Uber or Alibaba.
For her talk on “Building a Caring and Sharing Economy, Founder and CEO of Care.com Shiela Marcelo emphasized that care is no longer a soft issue. It is now an economic imperative. Care.com has more than 15.2 million members in 16 countries, connecting families and caregivers in a convenient and reliable way.
Sterling Filipino innovation at the Silicon Valley
Sharing his inspiring story on innovation and creation at the APEC SME Summit was Diosdado ‘Dado’ Banatao, Managing Partner of Tallwood Venture Capital. He is the only successful Filipino at the Silicon Valley who defeated computer giants including Intel with his re-architecture of the personal computer. Intel eventually bought one of his start-up companies for US$300 million.
Banatao was raised by a rice farmer and housekeeper in Cagayan, Philippines. As a young man, he walked barefoot on a dirt road just to reach a public school for his elementary education.
Banatao is credited for the dramatic improvement of the performance of graphics and sound in personal computers making it video-like in color and quality.
“To this day, that architecture inside PC is still there and no one has come up yet with something better. It would be a shame in my mind if there was no Filipino in Silicon Valley who has succeeded. Silicon Valley is composed of many nationalities and as a Filipino, I am proud to have competed against Americans, Indians, Chinese and many others. I wish there are more of us, we’ve got to put another Filipino name there,” Banatao said.
Unfortunately, in the Information Technology and Computer curriculum in the Philippines, Banatao said “they need to go back and re-do the whole thing. Sometimes, they have this Bachelor of Science in IT, but there is very little if any science in it.”
Another leg of entrepreneurship that needs to be developed in the Philippines is access to capital.
“Without investment money, any brilliant idea will not prosper,” Banatao explained.
Investors should establish (access to capital) as fast as the rise in the number of entrepreneurs. I believe that there’s enough money in the Philippines to spur the idea of inclusiveness to those who have less training.
“Providing scholarships is one formula,” Banatao suggested.
Reports indicate that Banatao annually awards five educational scholarships to intelligent Filipino students who have bright futures in the field of engineering and technology.
Filipino talents share stage with global visionaries
Sharing the same stage with Google Director of Strategy and Operations Barbara Navarro and renowned innovation guru Scott Anthony, Managing Partner of Innosight, are Filipino entrepreneurs who marveled the APEC SME audience with their powerful stories of hard work, perseverance and sheer talent.
Three of them included Dexter Ligot-Gordon, Co-Founder and COO of Kalibrr, Inc, one of the largest recruiting platforms; Angelo Umali, Co-Founder and CEO of Simple Wearables who first established his company that provides wearable tech with an emphasis on life-assisting and life-saving devices for the elderly in Hong Kong; and Nix Nolledo, Founder and CEO of Xurpas who was behind the first local standalone online message board.
Reacting to how the APEC SME 2015 impacted on the MSMEs, Liter of Light Executive Director Illac Diaz III said, “I want to see an array of innovation that address inclusiveness rather than the patented, expensive and proprietary business models.” Diaz’s Liter of Light has partnered with villages including refugee camps in 20 countries that have produced half a million solar lights in two years. With headquarters in Manila, Liter of Light is a global open source movement aiming to provide ecologically sustainable and cost-free lighting for simple dwellings with thin roofs.
Fast-rising young entrepreneur Joey Garcia, Vice President and COO of the Rairaiken Restaurant Group said that the “APEC SME Summit gave us a window of what’s happening globally including the megatrends that redefine consumer behavior.”
“Because customers are empowered by technology, they now want to solve problems on their own. Our challenge as entrepreneurs should be to take the risks and stay relevant in identifying new problems to solve for our customers using simple, enabling, disruptive and innovative ways,” Garcia noted.
Eagle Broadcasting Corporation is official broadcast partner of the APEC SME Summit 2015. (Eagle News Service)