Paymongo CEO Jojo Malolos describes the past year of local startups. #EsquirePHVideo #EsquirePHEvents
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00:00Well, it's both challenging and at the same time future-proofing.
00:06I think the overall environment about investing was also quite a challenge.
00:12So a lot of startup companies who were intending to raise money
00:16had some challenges in terms of pursuing their businesses.
00:22But I think that augurs well with the fact that a lot of investors
00:28have been expressing interest to come to the Philippines.
00:33And this Build Festival, for example, simply manifests that particular opportunity.
00:40Probably raising money is still going to be tough.
00:43There's going to be a lot of questions, a lot of testing,
00:46a lot of due diligence that the investors will do.
00:50I think they will just have to focus on their passion
00:53to really make a difference with their product.
00:56As I said earlier, don't fall in love with your product yet.
01:01Just make sure that you have a base of users who are adopting to your product
01:06and that you're really able to solve the problem differently from the rest.
01:10So if you have that and you have that passion,
01:12I think that will resonate with investors
01:16and they'll probably give you a shot in terms of testing during pre-seed or seed raise.
01:23That's right.
01:23So...