Duterte signs law providing benefits for startups
Published: July 18, 2019
MANILA – President Rodrigo Duterte has signed into law an act meant to provide benefits and programs to further develop startups and startup enablers in the Philippines.
Duterte signed the “Innovative Startup Act” (RA 11337) on April 26 but a copy of the document was released to reporters on Thursday (July 18).
Under the law, Duterte recognizes the importance of creating new jobs and opportunities, improve production, and advance innovation and trade in the country through startups.
A startup refers to “any person or registered entity in the Philippines which aims to develop an innovative product, process or business model.”