Last October 25 the founder of e-commerce giant Alibaba, Jack Ma, visited the Philippines for a day and did his best to make the most out of his stay. One of the highlights of Ma’s visit was to accept De La Salle University’s honorary degree invitation as a Doctor of Science in Technoprenuership. Once Ma accepted the honor, he was extremely humbled by the gesture 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 failures and success, how they go hand in hand to build a better business. During a panel discussion, Ma expressed his disdain about the Philippines’ poor internet connection and how it could be better and solve many technical issues in the country. As a digital business tycoon who believes in the Philippines’ capability to rise and be better, Ma mentioned his plans on how to make the Philippines’ digital landscape better for small to big entrepreneurs.
1. Building up local digital marketplaces
The beauty of the internet is that anybody can connect with everybody. When businesses use local digital marketplaces like Lazada, these local brands can be able to do business abroad in Asia or Europe.
2. Establishing sophisticated mobile payment
Jack Ma believes that being a cashless society in the Philippines is a great way eliminate 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
Due to being an archipelago, the Philippines has yet to figure out how to fix the country’s logistics system of delivering items 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 these digital marketplaces are already booming with effective logistics and international partners, Filipinos will soon stop building up infrastructures and start getting used to e-commerce for all their needs. When this happens, training centers will be available to train entrepreneurs to maximize the data and the platform wisely.
With technopreneurs investing in the Philippines like Jack Ma, the country is slowly evolving into a strong digital-based country. This step will make small businesses and their unique service or product shine brighter on the internet. 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.
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