Last October 25 the founder of e-commerce giant Alibaba, Jack Ma, visited the Philippines for a day. Jack Ma’s visit was to accept DLSU’s honorary degree as a Doctor of Science in Technopreneurship. Ma accepted the honor and approved of the title ‘technopreneurship’. He said, “I’m not that technical a guy… I know very little about technology and I’ve never trained to be an entrepreneur.” Yet he is one of Asia’s richest men with an estimated gross of billions.
In his acceptance speech, Ma told his story of how failure and success go hand in hand to build a better business. In a panel discussion, Ma expressed disdain about the country’s poor internet connection. It could be so much better and solve many technical issues in the country. The digital business tycoon believes in the Philippines to rise and be better. Jack Ma mentioned his plans to make the digital landscape better for entrepreneurs.
1. Building up local digital marketplaces
The beauty of the internet is that anybody can connect with everybody. When businesses use digital marketplaces , these brands are able to do business abroad.
2. Establishing sophisticated mobile payment
Jack Ma believes that being a cashless society in the Philippines is a great way to end corruption. This new and improved payment form will also help the youth and small businesses to get money faster
With this in mind, Alibaba’s subsidiary Ant Financial has entered a joint venture with Globe Telecom and Ayala Corporation to strengthen Globe’s financial tech arm.
3. Investing in better logistics systems
Being an archipelago, the Philippines has yet to fix the country’s logistics system of delivering nationwide. The system is not that good yet, but with the continuous investment, it will be ready in about 3-5 years.
4. Train entrepreneurs about data and platforms
When digital marketplaces are booming with effective logistics and international partners, Filipinos will stop building infrastructures and start using e-commerce.When this happens, training centers will be available for entrepreneurs to maximize the data and platform.
With technopreneurs investing like Jack Ma, we are evolving into a digital-based country. This will make small businesses and their unique service shine brighter. If you want to be a step ahead, why not build a website or strengthen your social media presence to boost business. Always be one step ahead of your competitors.
For more information on how to launch your business online, message us at email@example.com.